The Economic and Financial Crimes Commission (EFCC) has opened a fresh investigation into financial transactions connected to the long-running dispute over the Mambilla Hydroelectric Power Project in Taraba State.
The investigation follows findings and evidence examined during recent proceedings before an International Chamber of Commerce (ICC) arbitration tribunal, which rejected a multi-billion-dollar claim brought against Nigeria by Sunrise Power and Transmission Company Limited.
According to reports, the EFCC has constituted a special team to examine payments, relationships and other financial dealings referenced in the tribunal’s 620-page final award.
The team is being supervised by EFCC Chairman Ola Olukoyede and is also tracing properties that investigators believe may have been acquired with funds connected to the transactions under review.
Among those whose names appeared in the arbitration proceedings are former Vice President Atiku Abubakar, his former wife Jennifer Douglas, former Attorney-General of the Federation Abubakar Malami, former Minister of Power and Steel Olu Agunloye, former National Security Adviser Sambo Dasuki, his son Abubakar Dasuki, former Solicitor-General Abdullahi Yola and former Permanent Secretary in the Ministry of Power Dere Awosika.
An EFCC source quoted in the reports said the commission was reviewing the evidence before deciding on further action, including whether individuals would be invited for questioning or whether any assets could be targeted for forfeiture where sufficient legal grounds are established.
$500,000 Payment Linked to Atiku’s Former Wife
One of the transactions being examined is a $500,000 payment made by Leno Adesanya, the promoter of Sunrise Power, to Jennifer Douglas, who was married to Atiku at the time.
According to the arbitration record, the payment was made in January 2003 through a US account linked to Douglas.
The transaction occurred months before Olu Agunloye, then Minister of Power and Steel, purportedly awarded Sunrise a Build-Operate-Transfer contract for the Mambilla project.
The tribunal examined the timing and circumstances surrounding the payment, including Adesanya’s relationship with Atiku. It described the circumstances as raising concerns and considered the transaction in the context of allegations made by Nigeria during the arbitration.
Atiku has rejected suggestions that the tribunal found him guilty of corruption. His representatives have argued that the arbitration panel did not convict him, find that he received a bribe or conclude that he improperly influenced the Mambilla contract.
$1.74m Payment to Dasuki’s Son Under Review
Another transaction attracting the EFCC’s attention is a $1.74 million payment made by Adesanya to Abubakar Dasuki, the son of former National Security Adviser Sambo Dasuki, in December 2014.
During the arbitration, Adesanya reportedly described the payment as a loan. However, the tribunal questioned the explanation, noting the absence of a formal loan agreement and other documentation establishing the nature and accounting of the transaction.
The circumstances surrounding the payment were subsequently described in the arbitration proceedings as raising significant concerns.
Other Payments Examined
The EFCC’s review is not limited to the two transactions involving Atiku’s former wife and Dasuki’s son.
The arbitration proceedings also examined a payment of about ₦5.2 million made to former Power Minister Olu Agunloye through an intermediary in 2019.
A payment of approximately $50,000 involving former Solicitor-General Abdullahi Yola was also referenced in the proceedings.
In addition, three payments totalling about $135,000 were linked to a company belonging to the son of former Permanent Secretary in the Ministry of Power, Dere Awosika.
The tribunal considered these transactions alongside the broader allegations concerning Sunrise Power’s dealings with Nigerian officials and individuals connected to the Mambilla project.
EFCC Traces Assets
Beyond examining individual payments, investigators are reportedly attempting to establish how funds moved between the parties and whether any properties were purchased with proceeds connected to the transactions.
The EFCC is expected to determine its next steps after reviewing the available evidence.
Where investigators establish sufficient grounds under the law, the commission could seek asset forfeiture or invite individuals linked to the transactions for questioning.
The investigation comes shortly after the ICC tribunal rejected Sunrise Power’s approximately $2.35 billion claim against Nigeria over the Mambilla project and ordered the company and Adesanya to reimburse Nigeria about $11.82 million in legal fees and expenses.
The tribunal’s decision has reopened scrutiny of the financial dealings surrounding the project, which has remained stalled for years.
The EFCC investigation is ongoing, and the allegations examined during the arbitration have not, by themselves, established criminal liability against every individual whose name appeared in the proceedings.
