The Economic and Financial Crimes Commission (EFCC) has declared Dr. U Agunloye wanted, urging the public to report any information about his whereabouts to the EFCC or the nearest police station.

Agunloye, a former government official, is wanted for questioning regarding his involvement in the $6 billion Mambila hydropower contract.

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The invitation from the EFCC stems from accusations made by former President Chief Olusegun Obasanjo, who alleged that Agunloye mismanaged the power project during his tenure from 1999 to 2003 and failed to brief him on its status.

Obasanjo asserted that Agunloye unlawfully awarded the contract for the power project without the approval of the Federal Executive Council (FEC).

Agunloye, responding to the allegations, explained that the initial contract for the Mambilla Power Project was awarded as a Build, Operate, and Transfer contract in May 2003 under his watch.

He argued that the government was not obligated to pay anything under the Build, Operate, and Transfer (BOT) agreement as it was fully funded by the newly registered company, Sunrise Power and Transmission Ltd.

However, Agunloye remained silent on the authorization process for committing the government to a $6 billion project, especially considering the financial limits set for ministers during Obasanjo’s presidency.

The EFCC has been investigating the former minister over the controversy and a suspicious payment traced to his bank account.

The payment, described as “FRM LENO,” was allegedly linked to Agunloye’s account after committing the federal government to the disputed contract awarded to Sunrise Power Ltd.

The EFCC uncovered several transactions between Sunrise Power and government officials, which it considers inappropriate and potentially impacting the arbitration.

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Reports suggest that a transfer labeled “FRM LENO” made by a Sunrise Power official to Agunloye was explained by Sunrise as a cultural payment for the former minister’s medical expenses.

However, EFCC investigations revealed that Agunloye spent the funds on shopping and transportation around Orlando, Florida, in the United States, rather than on medical expenses.

This discovery has triggered a broader investigation dating back to the 2000s.