The Economic and Financial Crimes Commission (EFCC) has set up a special team to investigate transactions linked to the Mambilla Hydroelectric Power Project and trace properties suspected to be connected to them.
The team, being supervised by EFCC Chairman, Ola Olukoyede, is also considering inviting several prominent Nigerians mentioned in the International Chamber of Commerce (ICC) arbitration proceedings for questioning, with possible asset forfeiture to follow where the commission establishes sufficient grounds.
Those expected to come under scrutiny include 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 of the Federation, Abdullahi Yola, and former Permanent Secretary in the Ministry of Power, Dere Awosika.
A top EFCC source familiar with the development told THISDAY that the team was examining the transactions, relationships and other evidence contained in the 620-page final award and associated proceedings.
“Yes, the process is on,” the source, who pleaded not to be named, said.
The investigation followed the tribunal’s recent rejection of claims brought against Nigeria by Sunrise Power and Transmission Company Limited and its promoter, Leno Adesanya, over the 3,960-megawatt Mambilla project in Taraba State.
A review of the ICC award by THISDAY showed that one of the transactions that could attract the attention of investigators was a $500,000 payment made by Adesanya in January 2003 from the Swiss account of his company, China Castle Investments Limited, to a United States account belonging to Douglas, who was then married to Atiku.
The payment came only months before Agunloye, then Minister of Power and Steel, purportedly awarded Sunrise a Build-Operate-Transfer contract for the Mambilla project.
The tribunal examined the circumstances of the payment, including its timing and Adesanya’s relationship with Atiku. It noted that neither Atiku nor Douglas provided a witness statement or declaration supporting the explanation offered for the transaction.
The tribunal subsequently described the circumstances surrounding the payment as raising “significant red flags”, particularly in relation to questions about possible political influence and Sunrise’s efforts to secure the Mambillaproject.
Atiku has denied being indicted by the tribunal, maintaining that he was not responsible for awarding the contract.
The EFCC source said the commission’s review was not limited to the payments themselves, as investigators were also examining the relationships among the parties, the movement of funds and properties that may have been acquired with proceeds connected to the transactions.
The source said the commission would determine its next steps after reviewing the available evidence, including whether particular assets met the threshold for forfeiture.
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