Justice Jude Onwuegbuzie of the Federal Capital Territory (FCT) High Court Apo granted bail to former Minister of Power and Steel, Olu Agunloye, on Thursday, in the sum of N50 million.
Agunloye faced seven counts related to fraudulent award of a contract and official corruption. Initially remanded in Kuje Correctional Centre, the judge approved bail, emphasizing that Agunloye is not a flight risk.
The bail conditions include N50 million and two reputable sureties residing in the FCT, each with properties worth N300 million and verifiable Certificates of Occupancy. The defendant must submit his passport and remain present for hearings.
The case is adjourned to February 12, and the Economic and Financial Crimes Commission (EFCC) is investigating Agunloye over the $6 billion Mambilla Hydropower Contract.
