Former Vice-President Atiku Abubakar is expected to address a world press conference at his Abuja residence on Friday, amid fresh scrutiny over a $500,000 payment linked to his former wife, Jennifer Douglas, and the long-running dispute over Nigeria’s Mambilla hydropower project.
The presidential candidate of the African Democratic Congress (ADC) is scheduled to speak to journalists as questions emerge over a payment made in January 2003 by Leno Adesanya, promoter of Sunrise Power and Transmission Company Limited.
The reason for Atiku’s planned press conference has not been publicly disclosed.
The development comes hours after TheCable reported that Adesanya told an International Chamber of Commerce (ICC) arbitration tribunal that he transferred $500,000 to Douglas as part of a foreign-exchange transaction allegedly carried out for Atiku.
According to the report, the payment was made on 30 January 2003 through China Castle Investments Limited, an offshore company controlled by Adesanya.
The transfer came roughly two weeks after Sunrise presented its proposal for the Mambilla project to a multi-agency technical committee and less than four months before a disputed letter was issued purporting to award the project to Sunrise.
However, Adesanya and Sunrise denied that the payment was connected to the Mambilla project.
Adesanya told the tribunal that the $500,000 represented US dollars purchased for Atiku with naira through his bureau de change business.
The tribunal, however, reportedly found that the explanation was not supported by sufficient documentary evidence. It noted that Adesanya did not produce records showing the underlying naira payment, exchange rate, instructions from Atiku or his aides, or documents establishing the commercial purpose of the transaction.
Neither Atiku nor Douglas testified in the arbitration proceedings. The tribunal also said it was not provided with corroborating evidence from either of them to support Adesanya’s account. (TheCable)
Atiku has previously denied wrongdoing in connection with the separate corruption and money-laundering investigation involving Douglas and former US congressman William Jefferson.
Nigeria wins Mambilla arbitration
The fresh allegations come a day after Nigeria secured a significant legal victory in its long-running arbitration dispute with Sunrise Power.
An ICC tribunal sitting in Paris on 17 September rejected Sunrise’s claims against Nigeria over the Mambilla hydropower project.
Sunrise had pursued billions of dollars in claims arising from its alleged agreement with the Nigerian government to develop the project.
The tribunal also ordered Sunrise and Adesanya to reimburse Nigeria for 75% of its legal fees and expenses, amounting to about $11.82 million. (State House)
The Nigerian government had maintained that the alleged 2003 contract was never validly concluded, while Sunrise argued that it had secured an agreement to develop the project under a build-operate-transfer arrangement.
The ICC tribunal’s ruling has now rejected Sunrise’s claims arising from the disputed settlement agreement and its addendum. (Tribune Online)
The Mambilla project, planned as a major hydroelectric development in Taraba State, has remained stalled for more than two decades.
With Atiku expected to address journalists in Abuja, attention is likely to focus on whether he will respond directly to the newly reported payment and its alleged connection to the Mambilla project.
His comments could provide his first public response to the latest claims following the publication of the ICC tribunal findings.
