Ex-Minister of Power, Agunloye granted ₦50m bail by FCT High Court

The bail comes after Agunloye was arraigned on Wednesday, January 10, 2024, on seven counts bordering on the fraudulent award of a contract and official corruption.

The charges against Agunloye relate to the $6 billion Mambilla Hydropower Contract, with the Economic and Financial Crimes Commission (EFCC) leading the investigation.

Following the arraignment, the judge had initially ordered Agunloye's remand in the Kuje Correctional Centre pending the hearing and ruling on the bail application.

However, during the bail hearing, Counsel for the former minister, Adeola Adedipe, moved the application, urging the court to grant bail to his client either by way of self-recognisance or in liberal terms.

Adedipe argued vehemently that Agunloye is not a flight risk and dismissed the prosecution's notion as "born out of misconception and communication barrier."

He further appealed to the court not to impose the use of a public servant as surety for his client, stating that such a requirement is unnecessary.

The senior lawyer also invoked Section 352(4) of the Administration of Criminal Justice Act (ACJA), stating that once a defendant is admitted to bail, even if he absconds, the trial will continue, and conviction can be secured where necessary.

However, the prosecution counsel opposed the bail application, presenting their counter-arguments.

In delivering the ruling, Justice Onwuegbuzie stated that the pendulum of the court swings in favor of granting bail to the defendant. The judge granted ₦50 million bail to Agunloye and ordered him to produce two sureties in the same sum.

The conditions set for the sureties are stringent; they must be "reputable" and "people of means" residing within the FCT.

Additionally, the sureties must possess properties worth ₦300 million, with a verifiable Certificate of Occupancy. They are also required to submit copies of their identity cards and photocopies of their international passports to the court.

The court further mandated Agunloye to surrender his passport and ordered his presence at all hearings. The case has been adjourned to February 12, allowing the legal proceedings to progress.