The Economic and Financial Crimes Commission (EFCC) has set up a team, led by its chairman Olanipekun Olukoyede, to investigate individuals named in an arbitration ruling arising from disputes over the 3,960MW Mambilla Hydroelectric Power Project, PREMIUM TIMES can report.
The move follows an award issued in Paris by an International Chamber of Commerce (ICC) arbitration tribunal that rejected claims by Sunrise Power and Transmission Company Ltd (Sunrise) against the Federal Republic of Nigeria. Sunrise had sought $680 million in one proceeding and more than $2.7 billion in another. The tribunal ordered Sunrise and its promoter, Leno Adesanya, to refund Nigeria’s legal fees of $11.8 million and dismissed Sunrise’s bid for $400 million as a settlement and default sum.
PREMIUM TIMES’ review of the tribunal’s award shows several Nigerian politicians and former public officers were identified as associates or individuals who had dealings with Mr. Adesanya. Some of those dealings were described by the tribunal as questionable.
Named in the award were former vice‑president Atiku Abubakar and his then‑wife Jennifer Douglas; former Attorney‑General Abubakar Malami; former ministers Olu Agunloye and Sambo Dasuki; Mr. Dasuki’s son Abubakar Dasuki; former Solicitor‑General Abdullahi Yola; former ministry Permanent Secretary Dere Awosika; and Abdullahi Yola and Dere Awosika.
The tribunal criticised Mr. Malami, saying he acted against Nigeria’s national interest, maintained an “inappropriate relationship” with Mr. Adesanya and entered into a corrupt deal. Mr. Malami is already facing trial on allegations that he, his wife and son conspired to conceal and retain about N8.7 billion proceeds of unlawful activity, the report said.
On Atiku, the tribunal reviewed a $500,000 transfer dated January 30, 2003, from the Swiss account of Adesanya’s offshore company, China Castle Investments Ltd, to a US account belonging to Ms. Douglas, which was made less than four months before the Mambilla BOT contract was purportedly awarded to Sunrise by then‑minister Olu Agunloye. Mr. Adesanya told the tribunal the payment related to a foreign‑exchange transaction carried out for Atiku through a bureau de change business, but the tribunal said Adesanya did not provide documentary evidence—such as underlying naira payment records, exchange rates, correspondence or instructions—to support that explanation. The tribunal also noted neither Atiku nor Ms. Douglas provided witness statements or declarations addressing the transaction.
The tribunal said the timing of the transfer, Adesanya’s relationship with Atiku and the involvement of Mr. Adesanya in efforts to secure the Mambilla contract “raised significant red flags” for its assessment. Atiku has denied being indicted by the tribunal and said he was not responsible for awarding the contract, though the tribunal said some concerns in its verdict were not addressed.
The award also queried payments linked to other officials. Mr. Agunloye was tied to payments he described as “medical expenses” and is facing trial on seven counts, including forgery and receiving gratification relating to the project. The tribunal questioned a $1.74 million payment from Sunrise’s promoter to Abubakar Dasuki, son of former NSA Sambo Dasuki, finding the transaction raised “considerable red flags” and noting the absence of a loan agreement or accounting records. Former Solicitor‑General Abdullahi Yola and former Permanent Secretary Dere Awosika were named in connection with alleged bribery and controversial payments.
Sources told PREMIUM TIMES that Atiku and Ms. Douglas may be invited by the EFCC for questioning in the coming days or weeks. A top EFCC official confirmed the development to PREMIUM TIMES; EFCC spokesperson Dele Oyewale said he was aware of the probe but had not been fully briefed on details.
Reacting to the tribunal award on Thursday, President Bola Tinubu said the ruling affirmed the state’s determination not to yield to predatory claims by “corrupt local and international entities and their enablers and funders.”
The All Progressives Congress (APC) Presidential Campaign Council on Friday accused Atiku of compromising Nigeria’s interests in the project and urged him to withdraw from the 2027 presidential race. Atiku’s Senior Special Assistant on Public Communication, Phrank Shaibu, dismissed the call and challenged the APC to point to any part of the tribunal’s award where Atiku was found to have received a bribe, abused office, influenced the award of the contract or engaged in corrupt conspiracy.
Mr. Adesanya, the Sunrise promoter at the centre of the dispute, is also expected to be investigated, sources said.
