The Economic and Financial Crimes Commission (EFCC) has constituted a special team to investigate individuals linked to alleged questionable dealings surrounding the long-running Mambilla Hydroelectric Power Project in Taraba State.
The investigation is expected to focus on several individuals named in the recent judgment of an International Arbitration Tribunal constituted under the International Chamber of Commerce (ICC) in Paris.
Sources familiar with the development said the investigation team is being supervised by EFCC Chairman, Olanipekun Olukoyede, underscoring the importance the commission attaches to the matter.
The development followed Thursday’s ruling by the international tribunal, which rejected claims brought against Nigeria by Sunrise Power and Transmission Company Limited, promoted by Leno Adesanya.
Sunrise had sought $680 million from the Federal Government as a settlement sum and interest in connection with a separate arbitration in which the company is seeking more than $2.7 billion in compensation and interest over disputes surrounding the 3,960-megawatt Mambilla Hydroelectric Power Project.
The tribunal ordered Sunrise and Adesanya to reimburse Nigeria $11.8 million in legal costs. It also rejected the company’s claim for $400 million arising from an alleged $200 million settlement and an additional $200 million default sum.
The tribunal further held that Adesanya was bound by the arbitration agreement with Nigeria and that it had jurisdiction to consider Nigeria’s counterclaim against him and his company.
Following the ruling, President Bola Tinubu said the decision reaffirmed Nigeria’s determination to resist what he described as predatory and exploitative claims against the country.
Atiku, Malami, Agunloye, Dasuki, Others Named
Several former government officials and individuals were mentioned in the tribunal’s award in connection with dealings involving Adesanya and Sunrise Power.
Those named include former Vice President Atiku Abubakar, his former wife Jennifer Douglas, former Attorney-General of the Federation and Minister of Justice Abubakar Malami, former Minister of Power and Steel Olu Agunloye, former National Security Adviser Sambo Dasuki, his son Abubakar Dasuki, former Solicitor-General of the Federation Abdullahi Yola, and former Permanent Secretary in the Ministry of Power Dere Awosika.
The tribunal raised concerns over a number of transactions involving some of the individuals.
Malami was particularly criticized in the award over his relationship with Adesanya and his handling of matters relating to the Mambilla project.
The former AGF is also currently facing an EFCC case over allegations involving approximately N8.7 billion in proceeds of unlawful activities. The allegations remain subject to judicial determination.
Atiku was mentioned in relation to a $500,000 payment made by Adesanya on January 30, 2003, from the Swiss bank account of his offshore company, China Castle Investments Ltd, to a United States bank account belonging to Douglas.
The payment was made months before the Mambilla Build, Operate and Transfer (BOT) contract was reportedly awarded to Sunrise by Agunloye, who was then Minister of Power and Steel.
Adesanya told the tribunal that the payment was connected to a foreign-exchange transaction conducted for Atiku through his bureau de change business.
However, the tribunal said the explanation was not backed by sufficient documentary evidence, noting that Adesanya did not provide records showing the underlying naira payment, exchange rate, instructions from Atiku or his aides, or documents establishing the commercial purpose of the transaction.
The tribunal also noted that neither Atiku nor Douglas provided a witness statement supporting the explanation.
It further considered the relationship between Atiku and Adesanya, Adesanya’s efforts to secure the Mambilla project, and the timing of the payment in assessing the circumstances surrounding the transaction.
The tribunal recalled that Atiku had led a Nigerian government delegation to Beijing in July 2002, which included Adesanya. During the visit, the Nigerian government and Chinese state-owned NCPEC signed a memorandum of understanding covering several projects, including Mambilla.
The tribunal said the circumstances surrounding the payment raised significant concerns regarding the transaction, including questions about the possible use of influence and the subsequent award of the contract.
Atiku has denied being indicted by the tribunal, maintaining that he was not responsible for awarding the Mambilla contract.
Other Transactions Under Scrutiny
Agunloye was also mentioned in connection with payments he reportedly described as medical expenses. He is currently facing trial on seven counts bordering on forgery, alleged receipt of gratification, and disobedience to presidential directives in connection with the Mambilla project.
The tribunal also questioned a $1.74 million payment made by Adesanya to Abubakar Dasuki, son of former NSA Sambo Dasuki.
According to the tribunal, the transaction raised considerable concerns, while Adesanya failed to substantiate his claim that the money was a loan.
The tribunal cited inconsistencies in his evidence, the absence of a loan agreement, and a lack of records showing how the transaction was accounted for by Sunrise Power.
Yola and Awosika were also mentioned in connection with alleged controversial payments and dealings surrounding the project.
EFCC May Invite Individuals
Sources familiar with the EFCC investigation said some of the individuals named in the tribunal’s award could be invited for questioning as the commission examines the transactions and circumstances surrounding the Mambilla project.
Adesanya, who is at the center of the dispute, is also expected to be investigated.
The development has already triggered political reactions.
The All Progressives Congress Presidential Campaign Council accused Atiku of compromising Nigeria’s interests in relation to the Mambilla project and called on him to withdraw from the 2027 presidential race.
Atiku’s Senior Special Assistant on Public Communication, Phrank Shaibu, rejected the allegation and challenged the APC to produce the portion of the tribunal’s final award where Atiku was found to have received a bribe, abused his office, influenced the award of the contract to Sunrise Power, or participated in a corrupt conspiracy.
He argued that the arbitration proceeding was a commercial dispute and should not be presented as a criminal judgment against Atiku.
Meanwhile, EFCC spokesperson Dele Oyewale confirmed awareness of the reported investigation but said he had not been fully briefed on the details.
