IMPI Calls for Scrutiny of $500,000 Transaction in Mambilla Hydroelectric Project Arbitration

The Independent Media and Policy Initiative (IMPI) has raised alarms regarding a $500,000 transaction that surfaced during the International Chamber of Commerce (ICC) arbitration proceedings related to Nigeria's contentious Mambilla Hydroelectric Power Project. In a statement issued by its Chairman, Dr. Omoniyi Akinsiju, IMPI emphasized the need for a thorough review of the financial records associated with this payment, which was made on January 30, 2003.

This transaction involved China Castle Investments Limited, a company linked to Leno Adesanya, a key figure in the Sunrise Power consortium. Notably, the payment was directed to a U.S. bank account held by Jennifer Douglas, who was married to former Vice-President Atiku Abubakar at the time. The timing is particularly significant as it occurred just months prior to the purported awarding of a Build, Operate, and Transfer (BOT) contract for the Mambilla project to Sunrise Power.

IMPI's statement points out that the ICC tribunal had taken the transaction into account in its final award, which raises questions about the integrity and clarity of the financial dealings involved. The group contends that the circumstances surrounding the payment and the supporting documentation merit deeper investigation by relevant Nigerian authorities to ensure accountability and transparency.

“While we acknowledge that ICC proceedings are arbitration and do not imply criminal guilt, it is imperative for Nigerian institutions to examine these financial transactions closely to uphold public trust,” said Dr. Akinsiju.

Despite the sensitive nature of the allegations, IMPI clarified that the ICC's ruling does not equate to a criminal conviction against any party involved, particularly Atiku Abubakar. The group’s call for scrutiny reflects a broader demand for transparency and ethical governance in Nigeria's significant infrastructure projects, especially those involving substantial foreign investments.