GOV. SANWO-OLU IN LONDON SEEKS FOREIGN INVESTMENTS, PARTNERSHIPS.(PHOTOS). #PRESS RELEASE.

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SANWO-OLU IN LONDON SEEKS FOREIGN INVESTMENTS, PARTNERSHIPS   •Governor charges Commonwealth states to bring capital, technology, expertise to Lagos The Governor of Lagos State, Mr. Babajide Sanwo-Olu, on Monday charged the Commonwealth’s 56 member states to invest in Africa, particularly Lagos, by bringing their capital, technology and other expertise, promising that they will find not just market and opportunity but partner and relationship.   He said the Commonwealth's greatest advantage is not simply its shared language, shared laws or shared history but its people, noting that nowhere is that advantage more vivid, dynamic or consequential than in Africa.   Speaking as a Keynote Speaker at the opening ceremony of the Commonwealth Trade and Investment Summit held at Mansion House, London, on Monday, Governor Sanwo-Olu said Lagos is ready for partnerships and relationships with global investors.   The theme of the opening session is “The Commonwealth's Advantage". ...
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EFCC ARRAIGNS OLU AGUNLOYE FOR $6BILLION FRAUD.(PHOTO).#PRESS RELEASE

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EFCC Arraigns Olu Agunloye for  $6billion Fraud

The Economic and Financial Crimes Commission, EFCC, on Wednesday,  January 10,  2024 arraigned a former Minister of Power and Steel Development,  Olu Agunloye before Justice J.O Onwuegbuzie of the Federal Capital Territory, FCT,  High Court, Apo, Abuja.

He was arraigned on seven count charges bordering on fraudulent award of contract and official corruption.

One of the count reads: “That you, Olu Agunloye, whilst being the Minister of Power and Steel on or about the 22nd of May, 2003 in Abuja, within the jurisdiction of this honourable court awarded a contract, titled "Construction of 3,960mw Mambilla Hydroelectric Power Station on a Build, Operate and Transfer Basis" to Sunrise Power and Transmission Company Limited without any budgetary provision, approval and cash backing and you thereby committed an offence contrary to and punishable under Section 22(4) of the Corrupt Practices and other Related Offences Act, 2000.”
 
Another count reads: “That you, Olu Agunloye, on or about the 10th of August, 2019 in Abuja, within the jurisdiction of this honourable court, corruptly received the sum of Three Million Six Hundred Thousand Naira (N3,600,000.00) through your Guaranty Trust Bank account no.0022530926 from Sunrise Power and Transmission Company Limited (SPTCL) and Leno Adesanya for having conveyed the "approval of the Government of the Federal Republic of Nigeria for the construction of the 3,960 megawatts Mambilla Hydroelectric Power Station" in favour of SPTCL which you did whilst serving as the Minister of Power and Steel without the approval of the Federal Executive Council contrary to and punishable under Section 8(1)(a) and (b) of the Corrupt Practices and Other Related Offences Act, 2000.”

He pleaded “not guilty” to all the charges when they were read to them.

Thereafter, prosecution counsel, Abba Muhammed prayed the court for a trial date and to remand the defendant in a Correctional Centre. Defence counsel, Adola Adedipe, SAN, informed the court that he has filed a bail application for the defendant and prayed the court to grant him bail and commit him to the custody of the EFCC.

Justice Onwuegbuzie ruled that the defendant be remanded in Kuje Correctional Centre and set Thursday, January 11, 2024 for hearing on the bail application. 

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