KEY TAKEAWAYS
- The EFCC has set up a team, supervised by Chairman, Ola Olukoyede, to probe people named in the Mambilla power deal after an ICC ruling.
- The ICC tribunal dismissed Sunrise Power’s key claims, ordered a $11.8 million legal-fee refund, and questioned payments including $500,000 linked to Atiku Abubakar’s ex-wife.
- Sources said the EFCC may soon invite former Vice President Atiku Abubakar and Jennifer Douglas, while Abubakar Malami and Olu Agunloye already face separate EFCC trials.
The Economic and Financial Crimes Commission (EFCC) has constituted a team to investigate individuals named in alleged questionable dealings linked to the Mambilla Hydroelectric Power Project, following a recent ruling by the International Chamber of Commerce (ICC) in Paris, France, in favour of Nigeria.
Sources familiar with the development told Premium Times that the investigative team is being supervised by the Chairman of the EFCC, Ola Olukoyede.
CityNews reports that the investigation comes days after the ICC tribunal dismissed major claims brought before it by Sunrise Power and Transmission Company Limited against Nigeria over the 3,960-megawatt Mambilla Hydroelectric Power Project in Taraba State.
The company had made a claim against the Federal Republic of Nigeria, demanding $680 million as a settlement sum and interest in respect of another arbitration in which it is claiming over $2.7 billion in compensation and interest.
Delivering its verdict on Thursday, the tribunal directed Sunrise and its promoter to refund Nigeria’s legal fees of $11.8 million. It also rejected Sunrise’s claim for an order that Nigeria should pay the company $400 million in satisfaction of the settlement sum of $200 million and the default sum of $200 million.
The tribunal insisted that Leno Adesanya, the promoter of Sunrise, is bound by the arbitration agreement with Nigeria pursuant to the settlement agreement, adding that it has jurisdiction over Nigeria’s counterclaim against him and his firm.
According to sources, EFCC investigation will focus on individuals mentioned in the tribunal’s findings over payments and transactions that the panel described as raising concerns or ‘red flags.’
The tribunal revealed that many Nigerian politicians and individuals who held public offices were named as associates or officials who had dealings with Adesanya
The officials include former Vice President Atiku Abubakar, his then-wife Jennifer Douglas, Abubakar Malami, Olu Agunloye, Sambo Dasuki, his son Abubakar Dasuki, Abdullahi Yola, and Dere Awosika.
Malami, a former Attorney-General of the Federation (AGF), was severely criticised by the tribunal for acting against Nigeria’s national interest. He was accused of maintaining an “inappropriate relationship” with Adesanya, and entering into a corrupt deal. Already, Mr Malami is facing trial after the EFCC accused him, his wife, and son of conspiring to conceal, disguise and retain about N8.7 billion proceeds of unlawful activities.
Atiku, former vice president of Nigeria, was named by the tribunal in its review of a $500,000 payment made by Adesanya on 30 January 2003 from the Swiss bank account of his offshore company, China Castle Investments Ltd, to a US bank account belonging to Ms Douglas, Atiku’s ex-wife.
The payment was made less than four months before the Mambilla BOT contract was purportedly awarded to Sunrise by then Minister of Power and Steel, Olu Agunloye. Mr Adesanya told the tribunal that the money was part of a foreign-exchange transaction carried out for Atiku through his bureau de change business.
But the tribunal said that the explanation was not supported by documentary evidence. It said Adesanya did not produce records showing the underlying naira payment, the exchange rate applied, instructions from Atiku or his aides, correspondence concerning the transaction or documentation establishing its commercial purpose.
The tribunal also noted that neither Atiku nor Ms Douglas provided a witness statement or declaration supporting the explanation.
It noted that Atiku had led a Nigerian government delegation to Beijing in July 2002, which included Adesanya, during which the Nigerian government and the Chinese state-owned NCPEC signed a memorandum of understanding covering, among other projects, the Mambilla project.
However, Atiku has denied being indicted by the tribunal and said he was not responsible for awarding the contract.
Agunloye, a former minister of Power and Steel, was linked to payments he described as part of “medical expenses”. He is currently standing trial over charges relating to the Mambilla power project.
The tribunal also questioned payments of $1.74 million made to Abubakar Dasuki, the son of Sambo Dasuki, a former National Security Adviser (NSA), adding that the transaction raised “considerable red flags.”
The tribunal said Dasuki failed to substantiate his claim that the payment was a loan, citing inconsistencies in his evidence, the absence of a loan agreement and the lack of records showing how the transaction was accounted for by Sunrise.
Yola and Awosika were also named among those involved in alleged bribery and the receipt of controversial payments.
Sources told Premium Times that the EFCC may invite Atiku and his ex-wife, Douglas, for questioning in the coming days or weeks.
