The Economic and Financial Crimes Commission (EFCC) has reportedly established a team to investigate individuals named in alleged questionable dealings linked to the Mambilla Power Project, including former Vice President Atiku Abubakar and former Attorney-General of the Federation Abubakar Malami.
According to a report by PREMIUM TIMES, sources familiar with the matter said the team is being supervised by EFCC Chairman Olanipekun Olukoyede. The commission’s spokesperson, Dele Oyewale, reportedly confirmed awareness of the development but said he had not been fully briefed on the details.
The reported investigation follows an International Chamber of Commerce arbitration tribunal’s ruling in favour of Nigeria in a dispute involving Sunrise Power and Transmission Company Ltd and its promoter, Leno Adesanya.
Tribunal Rejects Sunrise Claims Against Nigeria
The tribunal rejected Sunrise Power’s claims against the Federal Republic of Nigeria over disputes connected to the proposed 3,960-megawatt Mambilla Hydroelectric Power Project in Taraba State.
Sunrise had sought $680 million as a settlement sum and interest in connection with a separate arbitration claim seeking more than $2.7 billion in compensation and interest.
The tribunal also directed Sunrise and Adesanya to reimburse Nigeria’s legal fees of $11.8 million. It rejected the company’s request for an order compelling Nigeria to pay $400 million in satisfaction of a claimed settlement and default sum.
The award further stated that Adesanya was bound by the arbitration agreement under the settlement agreement and that the tribunal had jurisdiction over Nigeria’s counterclaim against him and his company.
Atiku Named Over $500,000 Payment
PREMIUM TIMES reported that the tribunal’s award discussed a $500,000 payment made on January 30, 2003, from an account linked to Adesanya’s offshore company, China Castle Investments Ltd, to a US bank account belonging to Jennifer Douglas, Atiku’s then-wife.
Adesanya reportedly 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 supported by documentary evidence. It noted the absence of records showing the underlying naira payment, exchange rate, transaction instructions, correspondence or documents establishing the payment’s commercial purpose.
The tribunal also noted that neither Atiku nor Douglas provided a witness statement or declaration supporting the explanation. It said the payment’s timing, Adesanya’s relationship with Atiku and his efforts to secure the Mambilla project for Sunrise were relevant to its assessment.
The award referred to Atiku’s participation in 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 red flags.” However, Atiku has denied being indicted by the tribunal and maintained that he was not responsible for awarding the contract.
Atiku has also previously made public proposals on Nigeria’s economy, including his fuel subsidy and domestic refining plan and his proposal to reopen Nigeria’s borders to boost cross-border trade.
Tribunal Criticises Malami’s Conduct
The tribunal reportedly criticised Malami, a former Attorney-General of the Federation, over his conduct in matters connected to the project. According to the report, the tribunal questioned his relationship with Adesanya and said his actions were against Nigeria’s national interest.
Malami is separately facing trial after the EFCC accused him, his wife and son of conspiring to conceal, disguise and retain about ₦8.7 billion allegedly derived from unlawful activities. The allegations in that case remain subject to the court process.
Malami has also featured in political disputes in Kebbi. The Bureau Journal previously reported on the Kebbi ADC crisis involving aggrieved aspirants and Malami and the rift involving the party’s elders council.
Other Officials and Payments Mentioned
Other individuals named in the tribunal’s review reportedly included 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 report said the tribunal questioned a $1.74 million payment made by Adesanya to Abubakar Dasuki in December 2014. It said Adesanya did not substantiate his explanation that the payment was a loan, citing the absence of a loan agreement and accounting records, among other concerns.
Agunloye, meanwhile, is already facing trial over charges including forgery, receiving gratification and disobeying presidential directives in relation to the power project. Those charges are separate from the arbitration proceedings.
EFCC May Invite Atiku and Others for Questioning
Sources cited by PREMIUM TIMES said Atiku and Douglas may be invited by the EFCC for questioning in the coming days or weeks. Adesanya is also expected to be investigated, according to the report.
The development has prompted political exchanges. The All Progressives Congress Presidential Campaign Council reportedly called on Atiku to withdraw from the 2027 presidential race over the Mambilla matter.
Atiku’s Senior Special Assistant on Public Communication, Phrank Shaibu, rejected the call and challenged the APC to identify where the tribunal had found Atiku received a bribe, abused his office, influenced the contract award or participated in a corrupt conspiracy.
“A commercial arbitration did not indict Atiku, did not convict Atiku and cannot be transformed into a criminal verdict by repetition,” Shaibu said.
The arbitration award and any subsequent EFCC investigation are distinct processes. The reported investigation does not, by itself, establish criminal guilt against any individual named in the matter.
For background on Nigeria’s upcoming electoral cycle, readers can also consult The Bureau Journal’s guide to the 2027 general elections and electoral reforms.
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