The Economic and Financial Crimes Commission (EFCC) has commenced investigations into financial transactions linked to the Mambilla Hydroelectric Power Project and begun tracing properties allegedly connected to the payments.
The investigation, supervised by EFCC Chairman Ola Olukoyede, follows the recent decision of an International Chamber of Commerce arbitration tribunal in France concerning the dispute between Nigeria and Sunrise Power and Transmission Company Limited over the 3,960-megawatt Mambilla project in Taraba State.
According to a report by THISDAY, the anti-graft agency has constituted a special team to examine the transactions and relationships detailed in the tribunal’s 620-page final award and related proceedings.
A senior EFCC source familiar with the matter confirmed that the investigation was ongoing.
“Yes, the process is on,” the source said, requesting anonymity.
Atiku’s Former Wife Linked to $500,000 Payment
One of the transactions under review is a $500,000 payment allegedly made by Leno Adesanya, promoter of Sunrise Power, in January 2003.
The payment was reportedly transferred from the Swiss account of Adesanya’s company, China Castle Investments Limited, to a United States account belonging to Jennifer Douglas, who was married to former Vice President Atiku Abubakar at the time.
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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 of the payment and Adesanya’s relationship with Atiku. It also noted that neither Atiku nor Douglas submitted a witness statement or declaration supporting the explanation provided for the transaction.
The tribunal subsequently described the circumstances surrounding the payment as raising “significant red flags”, particularly regarding possible political influence and Sunrise’s efforts to secure the project.
Atiku has denied being indicted by the tribunal, maintaining that he was not responsible for awarding the contract.
$1.74m Payment to Dasuki’s Son Under Review
The EFCC is also examining a $1.74 million payment allegedly made by Adesanya to Abubakar Dasuki, son of former National Security Adviser Sambo Dasuki, in December 2014.
Adesanya reportedly described the payment as a loan.
However, the tribunal questioned the explanation, citing the absence of a loan agreement and other documents establishing the nature and accounting of the transaction.
It said the circumstances surrounding the payment raised “considerable red flags”.
Sambo Dasuki was also mentioned in the proceedings in connection with the transaction involving his son.
Former AGF Malami, Agunloye and Others Under Scrutiny
Former Attorney General of the Federation, Abubakar Malami, is expected to feature in the EFCC’s review over his role in the 2020 settlement agreement between Nigeria and Sunrise Power.
During the arbitration proceedings, Nigeria alleged that Malami acted against the country’s interests and entered into improper arrangements with Adesanya. The tribunal also examined aspects of their dealings.
Agunloye, who served as minister when Sunrise was purportedly awarded the original Mambilla BOT contract in May 2003, was mentioned in connection with a payment of approximately N5.2 million made to him through an intermediary in 2019.
The tribunal considered the timing and circumstances of the payment relevant to Nigeria’s allegations concerning the relationship between Adesanya and officials involved in the project.
Agunloye is separately facing criminal charges over the Mambilla project, including forgery, receiving gratification and disobedience to presidential directives. He has pleaded not guilty to the charges.
Yola, Awosika Payments Also Examined
The arbitration proceedings also referred to former Solicitor General of the Federation, Abdullahi Yola, and former Permanent Secretary in the Ministry of Power, Dere Awosika, over their involvement in subsequent negotiations concerning the project.
Yola, who represented the Ministry of Justice during negotiations on the 2012 General Project Execution Agreement and related settlement documents, was linked to an approximately $50,000 payment allegedly made by Adesanya through Lutin Investment in 2015.
Awosika was mentioned in connection with three payments totalling approximately $135,000 made by Lutin Investments to a company belonging to her son.
The EFCC source said the investigation would go beyond the individual payments, as investigators were also examining the relationships among the parties, the movement of funds and properties that may have been acquired with proceeds linked to the transactions.
The commission will determine its next steps after reviewing the available evidence, including whether any assets meet the legal threshold for forfeiture.
Rafiyat Sadiq is a political, justice, and human rights reporter with Pinnacle Daily, known for fearless reporting and impactful storytelling. At Pinnacle Daily, she brings clarity and depth to issues shaping governance, democracy, and the protection of citizens’ rights.