The International Chamber of Commerce (ICC) has dismissed a $2.35 billion claim by Sunrise Power Transition Company, a firm owned by Leno Adesanya, against the Nigerian government. The claim was related to the Mambila Hydro Electric Power Project. The ICC also rejected a $400 million settlement claim and instead ordered Sunrise and Adesanya to reimburse Nigeria approximately $11.82 million in legal and other expenses. This development has sparked celebrations across Nigeria.
According to sources, the Nigerian team, led by the Minister of Justice and Attorney General of the Federation, Lateef Fagbemi, SAN, played a crucial role in defending the country against the claim. The team included former Presidents Olusegun Obasanjo and Muhammadu Buhari, who featured as key witnesses in the case. Their testimonies helped to expose the alleged corruption, falsehood, deceit, and lies by Sunrise and its owners.
The Mambila Hydro Electric Power Project was initially considered by the Federal Executive Council (FEC) on May 21, 2003, but the council refused to approve the contract, insisting that the establishment of new power plants should be done through a competitive process. Despite this, the Minister of Power and Steel at the time, Dr. Olu Agunloye, sent a letter to Adesanya on May 22, 2003, indicating preliminary approval for Sunrise to play a role in the project.
The ICC tribunal, which sat in Paris on January 15, 2025, heard that Sunrise and its owners had attempted to use international arbitration to extract $660 million and a subsequent $2.7 billion from Nigeria's treasury through bogus claims of failed contracts. The company's witnesses, including a Senegalese woman who allegedly provided comfort to one of their government contacts, failed to convince the tribunal.
President Bola Ahmed Tinubu had prevailed upon former Presidents Obasanjo and Buhari, as well as other key witnesses, to defend the nation against what was described as a fraudulent scheme. The President had vowed to prevent Nigeria from losing billions of dollars through similar schemes, following a similar case in the English Supreme Court that saved Nigeria from losing $11 billion.
The case has been seen as a significant victory for Nigeria, with many hailing the government's efforts to defend the country's interests. The Minister of Justice and Attorney General of the Federation, Lateef Fagbemi, SAN, led the team that successfully defended Nigeria against the claim.
The outcome of the case has been welcomed by Nigerians, who see it as a major achievement in the fight against corruption and fraudulent practices. The government's determination to protect the country's interests and prevent the loss of billions of dollars has been commended.
Key points
- - The ICC dismissed a $2.35 billion claim by Sunrise Power Transition Company against Nigeria. - The company was ordered to pay $11.82 million in legal and other expenses. - The case was defended by a team led by the Minister of Justice and Attorney General of the Federation, Lateef Fagbemi, SAN.
