Former Attorney-General of the Federation (AGF), Abubakar Malami, has said the proposed $200 million settlement with Sunrise Power over the Mambilla Hydroelectric Power Project was negotiated in Nigeria’s interest.
Malami was reacting to findings by an International Chamber of Commerce (ICC) arbitration tribunal, which ruled that the 2020 settlement and its addendum were products of corruption and unenforceable.
The tribunal, in its 616-page final award delivered in Paris on September 16, also found that Malami and Leno Adesanya, promoter of Sunrise Power, reached a corrupt deal over the settlement. It further said Malami acted against Nigeria’s interest in handling the matter.
However, in a statement issued on Tuesday by his Special Assistant on Media, Mohammed Bello Doka, Malami rejected any suggestion that he acted for personal financial gain.
“Malami rejects any suggestion that his official actions were undertaken pursuant to a corrupt agreement or in exchange for personal financial benefit,” the statement said.
The former AGF said the settlement was part of efforts to resolve a long-running dispute that had exposed Nigeria to multibillion-dollar claims and threatened financing discussions for the Mambilla project.
“The governmental calculation was whether an asserted multibillion-dollar exposure, continuing litigation, financing difficulties and delays to the Mambilla project could be brought to an end through a substantially smaller negotiated settlement.
“Whether every term ultimately negotiated advanced that objective is a separate question and must be examined on its own evidence,” Malami said.
In January 2020, Malami and then Minister of Power, Saleh Mamman, signed a settlement under which Nigeria would pay Sunrise $200 million.
An addendum signed in March split the payment into two $100 million instalments and exposed Nigeria to a further $200 million default payment, apart from interest.
The tribunal said Sunrise had relied on the agreements in seeking up to $400 million from Nigeria.
Adesanya had told the tribunal that Malami and Mamman demanded 50 per cent of the settlement as bribes. He alleged that Nigeria would pay the first $100 million and release the second after he had done “what is needed”.
The tribunal found that Malami and Adesanya had reached a corrupt arrangement, although it could not establish the precise amount allegedly promised to Malami.
Malami, however, said there was no evidence linking him to any financial benefit from Sunrise or Adesanya.
