On his verified Facebook page, the commission implored Nigerians with information regarding Agunloye’s whereabouts to contact the EFCC or the nearest police station.
According to the EFCC, Dr. U. Agunloye is a sought-after individual. Are you aware of his current location? Kindly notify the EFCC or the nearest police station without delay."
Regarding his participation in the $6 billion Mambila hydropower contract, the EFCC had extended an invitation to Agunloye for interrogation.
Throughout his presidency from 1999 to 2003, former President Olusegun Obasanjo accused Agunloye of mismanaging the electricity project and failing to update him on its status.
Obasanjo asserted in an interview that Agunloye fraudulently granted the power project contract without the Federal Executive Council’s (FEC) sanction.
Obasanjo issued a challenge to Agunloye, requesting that he disclose to Nigerians the source of his authority to grant Sunrise Power and Transmission Ltd. a $6 billion contract for the project in 2003.
Agunloye responded that the initial contract for the Mambilla Power Project, which was awarded under his supervision in May 2003, was of the construct, operate, and transfer variety.
By the construct, operate, and transfer (BOT) agreement, the newly registered company, whose declared assets were less than $2,000 at the time, was exempt from the government’s obligation to pay Sunrise a kobo.
While Obasanjo claimed that ministers could not sanction more than N25 million during his presidency, Agunloye remained silent regarding how he obtained authorization to commit the government to a $6 billion project.
In connection with the controversy and a suspicious payment purportedly traced to the former minister’s bank account, the EFCC questioned him.
The payment labeled “FRM LENO” was purportedly rerouted to his account after his involvement in the federal government’s involvement in a disputed contract granted to Sunrise Power Ltd., which was under the promotion of Leno Adesanya.
The EFCC reportedly uncovered several “inappropriate” transactions involving Sunrise Power and government officials, which may have a significant bearing on the arbitration.
The former minister’s medical expenses allegedly financed a transfer to Agunloye bearing the inscription “FRM LENO,” according to reports. However, Sunrise Power denied this and referred to it as a “cultural payment.”
However, additional EFCC investigation appeared to indicate that Agunloye did not use the funds for medical expenses but rather for transportation and purchasing in and around Orlando, Florida, in the United States.
Another investigation, which originated in the 2000s, reportedly commenced in response to the revelation of the bank transfers.