Former Minister of Power and Steel, Dr. Olu Agunloye, has denied claims that he was charged with a $6 billion fraud by the Economic and Financial Crimes Commission (EFCC), insisting that the allegation is false and defamatory.
Agunloye made the declaration in a writ of summons in the defamation suit marked FCT/HC/CV/1199/2024, filed before a Federal Capital Territory High Court by his counsel, Adeola Adedipe (SAN).
The former minister alleged that the EFCC, through its social media posts, damaged his reputation by portraying him as corrupt and fraudulent. He is seeking a court declaration that the publication is false and defamatory, an order compelling the EFCC to retract the statement, issue a public apology, and pay him ₦1 billion in general and exemplary damages.
During the hearing, the EFCC’s sole witness, Assistant Commissioner of Police (ACP) Umar Babangida, who is also an investigator with the commission, was cross-examined by Agunloye’s counsel. Babangida testified that he was a witness in the criminal case involving Agunloye before Justice Jude Onwuegbuzie in Apo, Abuja, but confirmed that the matter had not yet been concluded.
When shown the criminal charge against Agunloye, Babangida admitted there was no mention of any $6 billion in the charge. He also acknowledged that the publication in question originated from the EFCC’s media department, not from the investigative unit. “I don’t know if Exhibit C (the publication) is an EFCC publication. I am an investigator, not in the media department,” he told the court.
Earlier, while being led in evidence by EFCC counsel O.S. Ajayi, Babangida adopted his written statement and asked the court to accept it as his oral testimony in the case.
Justice Peter Kekemeke subsequently adjourned the matter to February 2, 2026, for the adoption of the parties’ final written addresses.
Meanwhile, Agunloye is also standing trial on an amended seven-count charge marked FCT/HC/CR/617/2023, filed by the EFCC in connection with the Mambilla hydropower project in Taraba State.
The commission alleged that, as Minister of Power and Steel, Agunloye awarded the Mambilla project contract to Sunrise Power and Transmission Company Limited (SPTCL) on May 22, 2003, without budgetary provision, approval, or cash backing. It also accused him of receiving ₦5.2 million from SPTCL and its chairman, Leno Adesanya, through intermediaries.
Agunloye has, however, pleaded not guilty to all the charges.
