The Economic and Financial Crimes Commission (EFCC) has reportedly launched a fresh investigation into individuals linked to controversial transactions surrounding the multibillion-dollar Mambilla Hydroelectric Power Project in Taraba State.
The development follows a recent ruling by an International Chamber of Commerce (ICC) tribunal in Paris, France, which dismissed major claims brought by Sunrise Power and Transmission Company Limited against Nigeria.
Sources familiar with the matter told Premium Times that the EFCC has constituted an investigative team under the supervision of its Chairman, Ola Olukoyede, to examine individuals and transactions mentioned in the tribunal’s findings.
The ICC tribunal had ordered Sunrise Power and its promoter, Leno Adesanya, to refund Nigeria’s legal fees amounting to $11.8 million. It also rejected Sunrise’s demand that Nigeria pay $400 million in connection with an earlier settlement agreement.
According to the tribunal’s findings, several Nigerian politicians and former public officials were mentioned in connection with dealings involving Adesanya.
Those named include former Vice President Atiku Abubakar, his then-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, Abdullahi Yola and Dere Awosika.
Atiku, $500,000 Payment Under Scrutiny
One of the transactions highlighted by the tribunal was a $500,000 payment allegedly 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 Jennifer Douglas, Atiku’s former wife.
The payment occurred less than four months before the Mambilla Build, Operate and Transfer (BOT) contract was reportedly awarded to Sunrise by then Minister of Power and Steel, Olu Agunloye.
Adesanya reportedly told the tribunal that the money was connected to a foreign-exchange transaction carried out for Atiku through his bureau de change business.
However, the tribunal said the explanation was not supported by sufficient documentary evidence, noting that records relating to the alleged underlying naira payment, exchange rate, instructions and commercial purpose of the transaction were not produced.
The tribunal also noted that neither Atiku nor Douglas provided a witness statement or declaration supporting the explanation.
Atiku has previously denied being indicted by the tribunal and said he was not responsible for awarding the Mambilla contract.
Malami, Agunloye Already Facing EFCC Cases
Former Attorney-General of the Federation, Abubakar Malami, was also criticised in the tribunal’s findings over his dealings with Adesanya.
The tribunal questioned what it described as an inappropriate relationship between the former AGF and the businessman.
Malami is already facing an EFCC trial alongside his wife and son over allegations involving the concealment, disguise and retention of approximately N8.7 billion in alleged proceeds of unlawful activities. The allegations remain subject to judicial determination.
Agunloye, who served as Minister of Power and Steel, is also standing trial over allegations connected to the Mambilla power project. He has reportedly described some payments linked to him as medical expenses.
Another Payment Raises Questions
The ICC tribunal also examined a $1.74 million payment allegedly made to Abubakar Dasuki, son of former NSA Sambo Dasuki.
The tribunal said the transaction raised significant concerns, while noting that Dasuki’s explanation that the money was a loan was not adequately supported by documentation.
Abdullahi Yola and Dere Awosika were also mentioned in the tribunal’s findings concerning alleged bribery and controversial payments.
EFCC May Invite Atiku, Ex-Wife
With the fresh investigation now underway, sources cited by Premium Times said the EFCC could invite Atiku Abubakar and Jennifer Douglas for questioning in the coming days or weeks.
It remains unclear whether the commission will ultimately file new charges against any of the individuals mentioned in the ICC proceedings.
The latest development places the long-running Mambilla power project controversy back in the spotlight, with investigators now expected to examine the financial transactions and relationships highlighted in the tribunal’s ruling.
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