Close Menu
Vardiafrica
  • Home
  • Politics
    • Africa
    • Asia
    • Europe
    • US & Canada
    • World
  • Lifestyle
    • Entertainment
    • Film & Drama
    • Ent & Arts
  • Science
    • Health Science
    • Luxury
  • Finance

Subscribe to Updates

Get the latest creative news from FooBar about art, design and business.

What's Hot

WhatsApp is rolling out a new stricter security setting to protect users from cyberattacks

January 29, 2026

Rivers Govt to Recruit 5000 Teachers to Boost Education Sector

January 29, 2026

Nigerian Army Warns Troops Against Selling Arms, Vows Strict Sanctions for Defaulters

January 29, 2026
Facebook X (Twitter) Instagram
Trending
  • WhatsApp is rolling out a new stricter security setting to protect users from cyberattacks
  • Rivers Govt to Recruit 5000 Teachers to Boost Education Sector
  • Nigerian Army Warns Troops Against Selling Arms, Vows Strict Sanctions for Defaulters
  • Meta to test premium subscriptions on Instagram, Facebook, and WhatsApp
  • Nigeria secures first-ever formal labour recruitment deal with Saudi Arabia
  • Ex-Petroleum Minister, Alison-Madueke appears before UK court; pleads not guilty to bribery allegations
  • NDDC to Automate Procurement Processes, Ogbuku Assures
  • Court Strikes Out Nnamdi Kanu’s Motion Seeking Transfer From Sokoto Prison
Facebook X (Twitter) Instagram
VardiafricaVardiafrica
Demo
  • Home
  • Politics
    • Africa
    • Asia
    • Europe
    • US & Canada
    • World
  • Lifestyle
    • Entertainment
    • Film & Drama
    • Ent & Arts
  • Science
    • Health Science
    • Luxury
  • Finance
Vardiafrica
Home»Legal»Alleged $6bn Fraud: Ex-Minister Olu Agunloye Loses Bid To Stop Trial
Legal

Alleged $6bn Fraud: Ex-Minister Olu Agunloye Loses Bid To Stop Trial

VardiafricaBy VardiafricaMay 15, 2024Updated:May 15, 2024No Comments1 Views
Facebook Twitter Pinterest LinkedIn WhatsApp Reddit Tumblr Email
Share
Facebook Twitter LinkedIn Pinterest Email

Justice Jude Onwueguzie of the Federal Capital Territory High, FCT, Court, sitting in Apo, Abuja on Wednesday, May 15, 2024 dismissed a preliminary objection brought by ex-minister of Power and Steel, Olu Agunloye challenging the powers of the Economic and Financial Crimes Commission, EFCC to prosecute him. 

Agunloye is facing prosecution by the EFCC on seven-count charges bordering on suspected fraudulent Mambilla Power Project contract award to the tune of $6billion (Six Billion US Dollars).

On February 8, 2024, Agunloye had through his counsel, Adeola Adedipe (SAN) filed a motion challenging the powers of the EFCC to investigate and prosecute him as well as that of the jurisdiction of the court to try him.

In response, prosecution counsel Abba Muhammed filed a counter affidavit, dated February 22, 2024, where he dismissed Agunloye’s motion as incompetent and offensive to the provisions of Section 115(2) of the Evidence Act.

Delivering ruling on Wednesday, Justice Onwuegbuzie struck out Agunloye’s motion for lack of merit and held that Section 6 and 7 of the EFCC Establishment Act, 2004 gave the Commission investigative and prosecutorial powers to cause investigation into any act of economic and financial crimes.

“On issues of whether the EFCC has the statutory power to investigate and prosecute before a court of  competent jurisdiction,  I have considered the application of the defence and the respondent, and I hold that the EFCC is charged with the investigation and prosecution of all economic and financial crimes including, contract scams, money laundering, advance fee fraud etc,   including the investigation and enforcement of all economic and financial crimes laws, also cause investigation to weather an individual or company, or anybody is likely to commit any crime. Since the instant charges brought against the defendant are economic and financial crimes in nature, the motion brought by the defendant lacks merit and is  hereby dismissed,” the judge ruled.

Regarding the legitimacy of the prosecution fiat the Commission obtained from the Office of the Auditor-General rather than that of the Attorney-General of the Federation (AGF),   the judge held that any other state, authority or person was eligible to institute criminal prosecution in the absence of the AGF.

“Even if the charge has no seal of the Attorney-General of the Federation,  that does not stop the potency of the charge, as the Attorney-General may decide on any member of his department he wishes to delegate his powers  to carry out his duties by law,” he said.

He adjourned the matter till May 30, 2024 for continuation of trial

Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email
Vardiafrica
  • Website
  • Facebook
  • X (Twitter)
  • Instagram

Related Posts

Ex-Petroleum Minister, Alison-Madueke appears before UK court; pleads not guilty to bribery allegations

January 29, 2026

Court Strikes Out Nnamdi Kanu’s Motion Seeking Transfer From Sokoto Prison

January 27, 2026

Tinubu Seeks Increase in Number of Judges, Sends Judicial Reform Bills to Senate

January 27, 2026

Leave A Reply Cancel Reply

Top Posts

FG exempts SMEs, farmers, manufacturers from paying withholding tax

July 2, 202495

Trump set for White House return, vows to sign 100 Executive Orders in ‘Hours’ 

January 20, 202549

You rejected party structure’ – PDP knocks Fubara, says Rivers Gov, Bala Mohammed may face disciplinary action

October 15, 202442

Nigeria Takes Over G-24 Leadership, Pledges Push For Global Economic Reforms

October 15, 202540
Don't Miss
Telecommunications
Telecommunications By VardiafricaJanuary 29, 20262 Mins Read0

WhatsApp is rolling out a new stricter security setting to protect users from cyberattacks

By VardiafricaJanuary 29, 20260 Telecommunications Updated:January 29, 202602 Mins Read

Meta’s WhatsApp messaging service is offering users an advanced security mode, joining a growing number…

Rivers Govt to Recruit 5000 Teachers to Boost Education Sector

January 29, 2026

Nigerian Army Warns Troops Against Selling Arms, Vows Strict Sanctions for Defaulters

January 29, 2026

Meta to test premium subscriptions on Instagram, Facebook, and WhatsApp

January 29, 2026
Stay In Touch
  • Facebook
  • Twitter
  • Pinterest
  • Instagram
  • YouTube
  • Vimeo

Subscribe to Updates

Get the latest creative news from SmartMag about art & design.

About Us
About Us

Your source for the verified news.

Email Us: info@vardiafrica.com
Contact: +234 905 338 5856

Facebook X (Twitter) Instagram YouTube WhatsApp
Our Picks

WhatsApp is rolling out a new stricter security setting to protect users from cyberattacks

January 29, 2026

Rivers Govt to Recruit 5000 Teachers to Boost Education Sector

January 29, 2026

Nigerian Army Warns Troops Against Selling Arms, Vows Strict Sanctions for Defaulters

January 29, 2026
Most Popular

FG exempts SMEs, farmers, manufacturers from paying withholding tax

July 2, 202495

Trump set for White House return, vows to sign 100 Executive Orders in ‘Hours’ 

January 20, 202549

You rejected party structure’ – PDP knocks Fubara, says Rivers Gov, Bala Mohammed may face disciplinary action

October 15, 202442

Type above and press Enter to search. Press Esc to cancel.