• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Public Offer & Right Issues
      • Stock Market News
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Public Offer & Right Issues
      • Stock Market News
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Sectors Legal & Regulations

Court dismisses ex minister, Agunloye’s motion to stop prosecution by EFCC in alleged $6 billion fraud case

Cyrus Ademola by Cyrus Ademola
April 16, 2024
in Legal & Regulations, Sectors
Olu Agunloye, EFCC

Former Minister of Power and Steel, Dr Olu Agunloye

Share on FacebookShare on TwitterShare on Linkedin

Justice Jude Onwueguzie from the Federal High Court in Apo, Abuja, dismissed a legal challenge on Monday from Olu Agunloye, the ex-Minister of Power and Steel, regarding the EFCC’s right to bring charges against him for an alleged fraud of $6 billion.

Agunloye is on trial for allegedly fraudulently awarding the Mambilla power project contract worth $6 billion.

At the last adjournment, the former minister’s lawyer, Adeola Adedipe (SAN), submitted a motion claiming that the EFCC did not have the necessary investigative or prosecutorial authority to pursue the charges against him.

MoreStories

FG to subsidise agricultural inputs by 50% as dry season farming commences 

FG targets N160 billion outputs from 80,000 farmers in 2025/2026 wheat programme 

November 15, 2025
Top 10 families behind Nigeria’s popular manufacturing companies 

Top 10 families behind Nigeria’s popular manufacturing companies 

November 15, 2025

Agunloye further requested that the court permit the involvement of Amicus Curiae, or friends of the court, in the hearing of the preliminary motion.

However, at the Monday’s sitting, Justice Onwueguzie ruled that the basis for the application was not necessary, saying that the court was not a novice and the friends of the court were not parties in the matter.

Citing Section 177 of the 1999 Constitution of the Federal Republic of Nigeria, as amended, the judge also said that the law was clear on matters to be prosecuted by the EFCC.

  • “I have studied the issues to be considered in this matter by the defendant whether the motion ought to be charged by the EFCC. It is eminent to note that the learned counsels in this case before the court are seasoned counsels, issues of such should not arise.
  • “The court is not a novice, neither is it confused or in doubt on matters like this, so the intervention of friends of the court is not needed. Therefore the motion is hereby dismissed,” Justice Onwueguzie said.

The judge thereafter adjourned the matter to April 22 for hearing of preliminary motion.

Backstory

  • Nairametrics reported that a Former Minister of Power and Steel, Dr Olu Agunloye, under ex-President Olusegun Obasanjo’s government, lodged a lawsuit against the Economic and Financial Crimes Commission (EFCC), demanding N1 billion.
  • The lawsuit, filed under the case number FHC/ABJ/CS/167/2024 by Agunloye’s legal team led by Mr Adeola Adedipe, SAN, includes the Attorney-General of the Federation (AGF) as an additional defendant alongside the original filing.
  • Agunloye, former minister of power under President Olusegun Obasanjo, was at the centre of the $6 billion Mambilla hydropower contract controversy and had been quizzed by the Economic and Financial Crimes Commission (EFCC) over the affair over the years.

 


Follow us for Breaking News and Market Intelligence.
Tags: EFCCFederal High CourtfraudOlu Agunloye
Cyrus Ademola

Cyrus Ademola

  • Cyrus Ademola is an energy and economy analyst with over half a decade experience in journalism, research-based oped, economic reportage and energy analysis. His works have been featured on different media outlets, covering from oil and gas to business trends.

Related Posts

EFCC: Achimugu’s case unrelated to Atiku, Sanwo-Olu, agency says
Business News

EFCC recovers N364.5bn, $326.5m and secures 4,111 convictions in one year 

October 1, 2025
Federal High Court
Exclusives

Teleology regains assets as court faults EFCC over N55 billion case 

September 30, 2025
Proposed 5% levy on companies for community project might lead to exits – Afrexim Bank
Business News

Minister announces revocation of 1,263 mineral licences, defaulters to face EFCC 

September 21, 2025
AfriGO announces a groundbreaking “First” – Upgraded AfriGO settlement process for instant credit to POS Merchants
Business News

EFCC blames internet fraudsters for stricter visa restrictions against Nigerians   

September 17, 2025
FCT High Court, Benjamin Joseph, zinox
Financial Services

Court orders final forfeiture of $7 million found in Bank vault to Federal Government 

September 15, 2025
Mele kyari, NNPCL
Crime and Insecurity

Mele Kyari ‘honors’ EFCC ‘invitation’ over alleged fraud investigation at NNPCL

September 10, 2025
Next Post
Crude oil prices

Nigeria oil reserves rise to 37.50 billion barrels in January - NUPRC

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

tajbank
arco
access bank
nairametrics
first bank






DUNS

Recent News

  • Wale Edun reacts to S&P rating on Nigeria, vows to strengthen economy 
  • FIRS Chairman urges project selection based on economic returns to boost revenue 
  • CBN takes full control of government’s securities issuances 

Follow us on social media:

Recent News

CGT: How Nigeria compares with other African countries 

Wale Edun reacts to S&P rating on Nigeria, vows to strengthen economy 

November 15, 2025
Nigeria’s Capital Gains Tax risks stalling growth

FIRS Chairman urges project selection based on economic returns to boost revenue 

November 15, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Public Offer & Right Issues
      • Stock Market News
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics