The Economic and Financial Crimes Commission (EFCC) has declared Leno Adesanya, the promoter of Sunrise Power and Transmission Limited, wanted for alleged conspiracy and corruption involving the $6bn Mambilla Hydroelectric Power Station fraud. Meanwhile, former President Muhammadu Buhari has denied authorizing any settlement with Sunrise Power and Transmission Limited, which had sued the Federal Government for $2.3bn in damages over an alleged breach of contract.
Adesanya, 66, from Eti-Osa Local Government of Lagos State, with a last known address at 26, Balarabe Musa Crescent, Victoria Island, Lagos, is being sought by the EFCC. The agency has urged anyone with information about his whereabouts to report to any of its offices nationwide.
Adesanya’s name is linked to corruption charges against former Minister of Power and Steel, Olu Agunloye, who was arraigned by the EFCC over the $6bn fraud connected to the Mambilla Hydroelectric Power Station. Agunloye allegedly awarded a contract to Sunrise Power and Transmission Company Limited without budgetary provision, approval, or cash backing, violating Section 22(4) of the Corrupt Practices and Other Related Offences Act, 2000.
In response to Sunrise Power’s claim of a breach of contract, the Federal Government has been taken to arbitration at the International Chamber of Commerce, Paris, France. Sunrise Power alleges it was awarded a $6bn build, operate, and transfer contract in May 2003 by the Obasanjo administration but that the agreement was rejected by the Federal Government at the time. Sunrise is seeking $2.3bn in compensation, citing expenditures on financial and legal consultants before the contract was scrapped.
However, both Obasanjo and Buhari have denied authorizing Agunloye to commit Nigeria to the $6bn “build, operate, and transfer” contract. Buhari, in a letter to the Attorney General of the Federation, Lateef Fagbemi (SAN), stated that while his ministers were engaging with stakeholders to resolve issues blocking the project’s implementation, he never instructed them to enter into or conclude any settlement agreement with Sunrise Power and Transmission Company Limited.
