A federal high court in Abuja on Wednesday remanded a former minister of power and steel, Olu Agunloye, over allegations of fraud.

Mr Agunloye was arrested last December and detained by the Economic and Financial Crimes Commission over alleged official corruption and forgery to the tune of N6 billion in connection with the Mambilla power project. 

According to insiders at the commission, the former minister skipped bail, which led to his detention and subsequent declaration as wanted for evading the EFCC’s numerous requests for an interview about the alleged corruption. 

Despite his denial of all charges, Mr Agunloye was arraigned before the Supreme Court on Wednesday. 

Mr Agunloye has entered a not guilty plea to the allegations, The Cable has reported. 

The former minister has been held in Kuje prison until bail can be granted. Mr Agunloye served as a minister in the administration of former President Olusegun Obasanjo (1999–2003). 

The EFCC in September announced that it traced monies linked to Mr Agunloye’s bank accounts for certain dubious payments that Sunrise Power and Transmission Ltd. made. 

Former president Olusegun Obasanjo also challenged Mr Agunloye asking him to explain to Nigerians how he got the right to give Sunrise a $6 billion contract for the Mambilla hydropower project in 2003. 

The project, initially given to Sunrise Power and Transmission Limited in 2003 by the Obasanjo administration, is the focus of a multi-decade legal battle currently being arbitrated internationally between the Federal Government and the firm.