The Economic and Financial Crimes Commission (EFCC) has reportedly constituted a team to investigate individuals and transactions linked to the Mambilla Hydroelectric Power Project following an arbitration ruling in favour of Nigeria.
The investigative team is being supervised by EFCC Chairman Olanipekun Olukoyede, according to sources familiar with the development who spoke to Premium Times.
The investigation follows a decision by an International Chamber of Commerce (ICC) arbitration tribunal in Paris, France, which rejected major claims brought against Nigeria by Sunrise Power and Transmission Company Limited over the 3,960-megawatt Mambilla Hydroelectric Power Project in Taraba State.
Nigeria Wins Arbitration Dispute Against Sunrise Power
The arbitration proceedings centred on claims by Sunrise Power for payment of $680 million, including a settlement sum and interest, in connection with a separate arbitration in which the company was seeking more than $2.7 billion in compensation and interest.
In its ruling, the tribunal rejected Sunrise Power’s request for an order compelling Nigeria to pay $400 million, comprising a $200 million settlement sum and a further $200 million default sum.
The tribunal also directed Sunrise and its promoter, Leno Adesanya, to reimburse Nigeria’s legal expenses of approximately $11.8 million.
The ruling further affirmed that Adesanya was bound by the arbitration agreement with Nigeria under the settlement agreement and that the tribunal had jurisdiction over Nigeria’s counterclaim against him and his company.
Atiku, Malami and Other Officials Named in Tribunal Findings
According to Premium Times, a review of the tribunal’s award identified several Nigerian politicians and former public officials who had dealings with Adesanya.
Those named include:
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Former Vice President Atiku Abubakar
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Jennifer Douglas, Atiku’s former wife
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Former Attorney-General of the Federation, Abubakar Malami
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Former Minister of Power and Steel, Olu Agunloye
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Former National Security Adviser, Sambo Dasuki
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Abubakar Dasuki, Sambo Dasuki’s son
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Abdullahi Yola
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Dere Awosika
The inclusion of an individual in the tribunal’s findings does not, by itself, establish that the person committed a criminal offence. The reported EFCC investigation is expected to examine the transactions and circumstances identified in the award.
Tribunal Raises Questions Over $500,000 Payment Linked to Atiku
The tribunal examined a $500,000 payment made by Adesanya on 30 January 2003 from the Swiss bank account of his offshore company, China Castle Investments Limited, to a United States bank account belonging to Jennifer Douglas.
The payment was made less than four months before Sunrise was purportedly awarded the Mambilla build-operate-transfer contract by then Minister of Power and Steel, Olu Agunloye.
Adesanya told the tribunal that the money was connected to a foreign-exchange transaction conducted for Atiku through his bureau de change business.
However, the tribunal found that the explanation was not supported by sufficient documentary evidence. It noted the absence of records showing the underlying naira payment, exchange rate, instructions from Atiku or his aides, and documents establishing the commercial purpose of the transaction.
The tribunal also noted that neither Atiku nor Douglas provided a witness statement or declaration supporting the explanation.
Although the tribunal identified concerns surrounding the payment, reporting on the award indicates that it did not make a definitive finding that the $500,000 payment was a bribe or that Atiku had used his governmental powers to secure the contract for Sunrise.
Atiku Denies Being Indicted
Atiku Abubakar has denied being indicted by the ICC tribunal over the payment and maintained that he was not responsible for awarding the Mambilla contract.
His response followed reports highlighting the tribunal’s concerns about the transaction and its timing in relation to the project.
A separate report by Premium Times stated that Atiku rejected the suggestion that the arbitration amounted to a corruption verdict against him.
Tribunal Criticises Abubakar Malami Over Settlement Deal
The tribunal also examined the conduct of former Attorney-General of the Federation and Minister of Justice, Abubakar Malami, in connection with settlement arrangements involving Sunrise Power.
According to the tribunal’s reported findings, Malami maintained contact with Adesanya during the settlement discussions and acted in a manner the tribunal considered contrary to Nigeria’s interests.
A separate Premium Times report stated that the tribunal concluded that a corrupt deal had been reached between Malami and Adesanya in relation to the settlement agreement and its addendum.
The tribunal also found that the settlement arrangements were not binding on Nigeria because they lacked the required presidential approval.
Malami is already facing an EFCC prosecution in a separate matter in which the agency has accused him, his wife and his son of conspiring to conceal, disguise and retain approximately N8.7 billion in alleged proceeds of unlawful activities, according to the report. The existence of those charges should be distinguished from any new findings that may emerge from the Mambilla investigation.
Other Payments Under Scrutiny
The ICC tribunal also examined payments linked to other former public officials.
Olu Agunloye: The former Minister of Power and Steel was linked to payments that he described as medical expenses. He is also facing trial over charges related to the Mambilla power project.
Abubakar Dasuki: The tribunal questioned a payment of $1.74 million made to Sambo Dasuki’s son. It reportedly raised concerns about the explanation that the money was a loan, citing inconsistencies in the evidence, the absence of a loan agreement and a lack of accounting records from Sunrise.
Abdullahi Yola and Dere Awosika: The two former public officials were also named in connection with alleged bribery and controversial payments examined during the proceedings. The nature and legal implications of the allegations remain matters for further investigation and due process.
EFCC May Invite Atiku and Jennifer Douglas
Sources cited by Premium Times said the EFCC may invite Atiku Abubakar and his former wife, Jennifer Douglas, for questioning in the coming days or weeks.
An EFCC official reportedly confirmed awareness of the development, while spokesperson Dele Oyewale said he had not been fully briefed on the details.
It remains important to distinguish a reported invitation for questioning from a formal criminal charge or a finding of guilt. The outcome of any EFCC investigation will depend on the evidence gathered and the applicable legal process.