Former Minister of Power and Steel, Olu Agunloye, was granted bail in the amount of N50 million by Justice Jude Onwuegbuzie of the Federal Capital Territory (FCT) High Court in Apo on Thursday, January 11. Agunloye was charged on Wednesday with seven felonies related to contract fraud and government misconduct.
His confinement at Kuje Correctional Center was mandated by the judge awaiting a hearing and decision about his bail application.
It will be recalled that the EFCC arraigned the former minister of power and steel, over the $6 billion Mambilla hydropower contract.
Agunloye was brought before the federal high court in Abuja on Wednesday where he pleaded not guilty to the charges read against him.
