The fallout from Nigeria’s long-running Mambilla Power Project dispute has taken a new turn after an International Chamber of Commerce (ICC) arbitration tribunal examined a series of payments and relationships involving former public officials and individuals linked to the project.
The tribunal’s final award, issued in September, rejected claims worth about $3.38bn brought against Nigeria by Sunrise Power and Transmission Company and its promoter, Leno Adesanya. It also examined financial transactions involving several prominent Nigerians, 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, former Solicitor-General Abdullahi Yola and former Permanent Secretary Dere Awosika.
Payments under scrutiny
One of the transactions examined by the tribunal was a $500,000 payment made in January 2003 by Mr Adesanya, through an offshore company, to an account belonging to Ms Douglas, who was then married to Mr Atiku.
Mr Adesanya told the tribunal that the payment was connected to a foreign-exchange transaction carried out for Mr Atiku. However, the tribunal said the explanation was not supported by sufficient documentary evidence, including records showing the underlying naira payment, exchange rate or commercial purpose of the transaction.
The tribunal described the circumstances surrounding the payment as raising “significant red flags”. However, being mentioned in the award or having a transaction examined by the tribunal does not, by itself, establish that an individual committed a criminal offence or received a bribe. Mr Atiku has rejected suggestions that the award indicted him.
Another transaction examined was a payment of about $1.74m to Abubakar Dasuki, the son of former NSA Sambo Dasuki. Mr Adesanya described the money as a loan connected to a quarry business, but the tribunal said the explanation was not adequately substantiated and noted inconsistencies surrounding the transaction.
Malami and Agunloye
The tribunal also made serious observations concerning former AGF Abubakar Malami, including criticism of his dealings with Mr Adesanya and the settlement arrangements connected to the dispute. Separately, former minister Olu Agunloye is already facing criminal proceedings relating to the Mambilla project and has pleaded not guilty.
The award also referred to Abdullahi Yola and Dere Awosika in connection with dealings examined during the proceedings. The findings, however, differed from one individual to another, making it important not to treat everyone named in the award as having been found guilty of wrongdoing.
EFCC follows the trail
The Economic and Financial Crimes Commission (EFCC) has reportedly assembled a team to investigate transactions and relationships highlighted by the tribunal. Sources cited by PREMIUM TIMES said the investigation is being supervised by EFCC Chairman Ola Olukoyede, with individuals named in the award potentially facing questioning. The EFCC has not announced criminal charges against all those mentioned in connection with the latest investigation.
The investigation could therefore shift the focus from what the arbitration tribunal uncovered to a more fundamental question: where did the money go, why was it paid, and what was exchanged for it?
For now, the ICC award provides a detailed account of disputed transactions and relationships, while the EFCC investigation — if and as it progresses — will determine whether the evidence meets the threshold for criminal action.
The Mambilla project has remained at the centre of legal and political controversy for more than two decades. With the arbitration claims against Nigeria now rejected, attention is increasingly turning to the money trail behind the deal and what further investigations may reveal.
