The Economic and Financial Crimes Commission (EFCC) has initiated an investigation into several high-profile individuals, including former Vice President Atiku Abubakar and ex-Attorney-General of the Federation, Abubakar Malami. This probe is related to alleged questionable transactions surrounding the long-running Mambilla Hydroelectric Power Project. According to sources, the EFCC has formed a special team to examine the allegations arising from an international arbitration award involving Sunrise Power and Transmission Company Limited and the Federal Government.
The investigation follows a recent ruling by an International Chamber of Commerce arbitration tribunal in Paris. The tribunal rejected claims brought by Sunrise and its promoter, Leno Adesanya, against Nigeria. Sunrise had sought $680 million from the Federal Government as a settlement sum and interest in connection with a separate arbitration claim. The claim demanded over $2.7 billion in compensation and interest over disputes relating to the 3,960-megawatt Mambilla hydroelectric project in Taraba State.
The tribunal ordered Sunrise and Adesanya to reimburse Nigeria $11.8 million in legal costs. It rejected the company’s request for an order directing Nigeria to pay $400 million in satisfaction of an alleged $200 million settlement sum and another $200 million in default charges. The tribunal also held that Adesanya was bound by an arbitration agreement with Nigeria and affirmed its jurisdiction over Nigeria’s counterclaim against him and his company.
The arbitration tribunal examined several transactions, including a $500,000 payment made by Adesanya on January 30, 2003, from the Swiss account of his offshore company, China Castle Investments Limited, into a United States bank account belonging to Jennifer Douglas, Atiku’s former wife. The tribunal found the explanation for the payment, provided by Adesanya, to be unsupported by documentary evidence. This has raised concerns about the possible use of Atiku's influence and the subsequent award of the contract to Sunrise.
The tribunal also scrutinized the relationship between Adesanya and Atiku, as well as Adesanya's efforts to secure the Mambilla project. Atiku has since denied being indicted by the tribunal, maintaining that he was not responsible for awarding the contract. Malami also featured prominently in the tribunal’s findings, with the former AGF being criticized over an "inappropriate relationship" with Adesanya and conduct considered contrary to Nigeria’s interests.
Several other individuals have been linked to the controversy, including former Minister of Power and Steel Olu Agunloye, former National Security Adviser Sambo Dasuki, his son Abubakar Dasuki, Abdullahi Yola, and Dere Awosika. Agunloye is currently facing a seven-count trial involving allegations of forgery, receiving gratification, and disobedience to presidential directives in connection with the Mambilla project. The EFCC could invite Atiku and others for questioning as the investigation progresses.
The development has generated significant political reactions, with the All Progressives Congress Presidential Campaign Council accusing Atiku of compromising Nigeria’s interests over the Mambilla project. Atiku's Senior Special Assistant on Public Communication, Phrank Shaibu, rejected the allegation and challenged the APC to identify any portion of the tribunal’s award in which Atiku was found to have received a bribe or abused his office.
Key points
- The EFCC is investigating several high-profile individuals over alleged irregularities in the Mambilla Hydroelectric Power Project.
- The investigation follows an international arbitration tribunal ruling that rejected claims by Sunrise Power and Transmission Company Limited against Nigeria.
- Atiku Abubakar and Abubakar Malami are among those being probed over their involvement in the project.
