The Economic and Financial Crimes Commission (EFCC) has constituted a team to investigate individuals named in an International Chamber of Commerce (ICC) arbitration ruling concerning the controversial Mambilla Hydroelectric Power Project.

The investigation follows an arbitration award issued in Paris on Thursday, which dismissed claims brought by Sunrise Power and Transmission Company Ltd and its promoter, Leno Adesanya, against the Federal Republic of Nigeria.

According to Premium Times, sources familiar with the development said that the EFCC investigative team is being supervised by the commission’s Chairman, Olanipekun Olukoyede.

The sources said the decision reflects the commission’s interest in allegations arising from the tribunal’s findings.

The dispute centres on the 3,960-megawatt Mambilla project in Taraba State. Sunrise had sought $680 million from Nigeria in connection with a settlement agreement and interest, while a separate arbitration claim involving the company reportedly exceeds $2.7 billion.

In its latest ruling, the tribunal rejected Sunrise’s claims and ordered the company and Mr Adesanya to reimburse Nigeria $11.8 million in legal costs.

It also rejected a claim seeking $400 million from Nigeria over an alleged $200 million settlement and a further $200 million default payment.

The tribunal further held that Mr Adesanya was bound by the arbitration agreement and that it had jurisdiction over Nigeria’s counterclaims against him and Sunrise.

Atiku, Malami and other public officials named

A review of the tribunal’s award shows that several Nigerian politicians and former public officials were mentioned in connection with Mr Adesanya and the Mambilla project.

They 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.

The tribunal made particularly strong observations about Mr Malami’s conduct, questioning his relationship with Mr Adesanya and concluding that some of his actions were contrary to Nigeria’s interests.

Mr Malami is separately facing an EFCC case in which the commission alleges that he, his wife and son conspired to conceal, disguise and retain about N8.7 billion in proceeds of unlawful activities. Those allegations remain subject to judicial determination.

$500,000 payment linked to Atiku’s former wife

The tribunal examined a $500,000 payment made by Mr Adesanya on 30 January 2003 from the Swiss account of his offshore company, China Castle Investments Ltd, to a United States bank account belonging to Ms Douglas.

The payment occurred less than four months before Mr Agunloye, then Minister of Power and Steel, purportedly awarded the Mambilla Build, Operate and Transfer contract to Sunrise.

Mr Adesanya told the tribunal that the payment was connected to a foreign-exchange transaction he carried out for Atiku through his bureau de change business.

The tribunal, however, said the explanation was not supported by sufficient documentary evidence.

It noted the absence of records showing the underlying naira transaction, the exchange rate used, instructions from Atiku or his associates, correspondence relating to the payment or documents establishing its commercial purpose.

Neither Atiku nor Ms Douglas submitted a witness statement or declaration supporting the explanation, according to the tribunal.

The tribunal also considered the relationship between Atiku and Mr Adesanya, Mr Adesanya’s efforts to secure the Mambilla project and the timing of the payment.

It noted that Atiku had led a Nigerian government delegation to Beijing in July 2002, with Mr Adesanya among the participants. During the visit, Nigeria and Chinese state-owned NCPEC signed a memorandum of understanding covering several projects, including Mambilla.

The tribunal said the circumstances surrounding the payment raised concerns about possible influence and its connection with the subsequent award of the contract.

Atiku has denied being indicted by the tribunal. He has also argued that he was not responsible for awarding the Mambilla contract.

His spokesperson, Phrank Shaibu, rejected suggestions that the arbitration award established wrongdoing by the former vice president.

He challenged those making the allegations to identify where the tribunal found that Atiku received a bribe, abused his office, influenced the award of the contract to Sunrise or participated in a corrupt conspiracy.

He described the proceedings as a commercial arbitration rather than a criminal trial.

Agunloye, Dasuki and others

The tribunal also examined transactions involving other former public officials.

Mr Agunloye, who served as Minister of Power and Steel, was linked to payments he described as medical expenses.

He is separately standing trial on seven counts involving alleged forgery, receiving gratification and disobedience to presidential directives in connection with the Mambilla project. The charges remain before the court.

The tribunal also examined a $1.74 million payment made by Mr Adesanya to Abubakar Dasuki, son of former NSA Sambo Dasuki.

According to the tribunal, Mr Adesanya described the December 2014 payment as a loan but failed to substantiate the explanation.

The tribunal cited inconsistencies in his evidence, the absence of a loan agreement and a lack of records showing how the transaction was accounted for by Sunrise.

Abdullahi Yola, a former Solicitor-General of the Federation, and Dere Awosika, a former Permanent Secretary in the Ministry of Power, were also mentioned in connection with alleged bribery and controversial payments.

EFCC may invite Atiku, Douglas

Sources familiar with the investigation said the EFCC may invite Atiku and Ms Douglas for questioning as investigators examine the transactions and relationships highlighted in the tribunal’s award.

Mr Adesanya is also expected to be investigated.

The development comes amid renewed political controversy over the Mambilla project.

On Friday, the All Progressives Congress (APC) Presidential Campaign Council accused Atiku of compromising Nigeria’s interests in the project and called on him to withdraw from the 2027 presidential race.

Atiku’s camp rejected the allegation.

The EFCC spokesperson, Dele Oyewale, said he was aware of the development but had not yet been fully briefed on the details of the investigation.

The commission’s inquiry is expected to determine whether the transactions and conduct identified in the arbitration proceedings disclose offences within the EFCC’s mandate.