The Economic and Financial Crimes Commission (EFCC) has opened a fresh investigation into transactions and dealings involving individuals linked to the controversial Mambilla Hydroelectric Power Project following the recent ruling of an International Chamber of Commerce (ICC) arbitration tribunal in Paris.
Sources familiar with the development said the anti-graft agency has constituted an investigative team to examine issues raised in the tribunal’s findings, with the probe being supervised by EFCC Chairman, Ola Olukoyede.
The investigation follows the tribunal’s rejection of major claims brought by Sunrise Power and Transmission Company Limited against Nigeria over the 3,960-megawatt Mambilla project in Taraba State.
The tribunal also ordered Sunrise Power and its promoter, Leno Adesanya, to reimburse Nigeria about $11.8 million in legal fees and expenses.
The tribunal’s findings referenced several former public officials and individuals who had dealings with Adesanya, including 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; Abdullahi Yola; and Dere Awosika.
One of the transactions examined was a $500,000 payment made by Adesanya in January 2003 from an account linked to his offshore company to a United States account belonging to Douglas.
Adesanya reportedly told the tribunal that the payment was connected to a foreign-exchange transaction carried out for Atiku through his bureau de change business.
However, the tribunal found that the explanation was not sufficiently supported by documentary evidence, noting the absence of records relating to the alleged currency exchange.
Atiku has denied being indicted by the tribunal, maintaining that the arbitration proceedings did not establish that he received a bribe or participated in any corrupt arrangement.
The tribunal also examined a $1.74 million payment to Abubakar Dasuki, the son of the former NSA.
According to the findings, the transaction raised concerns over inconsistencies surrounding the explanation that the payment was a loan, as well as the absence of supporting documentation.
Agunloye, who was Minister of Power and Steel when the Mambilla project was being pursued, also featured in the findings over payments he reportedly described as medical expenses. He is already facing an EFCC trial over allegations connected with the project.
Malami was also mentioned in connection with the handling of a 2020 settlement agreement between Nigeria and Sunrise Power. The tribunal questioned aspects of the agreement and held that the settlement could not bind the Federal Government without the required presidential approval. It subsequently rejected Sunrise Power’s $400 million claim.
As part of the fresh investigation, the EFCC is expected to examine the transactions, relationships and other evidence highlighted in the tribunal’s findings to determine whether any criminal offences were committed.
Sources cited in recent reports said Atiku and Douglas could be invited by the commission for questioning as the investigation progresses.
An EFCC spokesperson confirmed awareness of the development but said he had not been fully briefed on the details of the investigation.
The fresh probe does not, by itself, establish criminal liability against any of the individuals named. The EFCC investigation is expected to determine the circumstances surrounding the transactions and whether there is sufficient evidence to warrant further action.