On Wednesday, the Economic and Financial Crimes Commission (EFCC) issued a declaration of wanted status for Leno Adesanya, the promoter of Sunrise Power and Transmission Limited. This action is linked to allegations of “an alleged conspiracy and corrupt offer to public officers” concerning the purported $6 billion Mambilla Hydroelectric Power Station fraud. As reported by The PUNCH..…..CONTINUE READING>>>>>>
Sunrise Power, a major player in the energy sector, is now pursuing $2.3 billion in compensation. The company claims that it had already invested substantial resources in financial and legal consultants before its contract was unexpectedly rejected by the Federal Government.
The controversy centers around the $6 billion “build, operate, and transfer” contract related to the Mambilla hydroelectric power project. Former President Obasanjo has categorically denied authorizing Olu Agunloye to commit Nigeria to this significant agreement.
Adding to the complexity, former President Muhammadu Buhari has also weighed in on the matter. In a letter addressed to the Attorney General of the Federation, Lateef Fagbemi (SAN), Buhari clarified his position. He stated:
“While I understood that my ministers of justice, power, and water resources were approached by Sunrise and were engaging with various stakeholders involved in the project to resolve the issues blocking its implementation, at no time did I specifically instruct them to enter into and conclude any settlement agreement with Sunrise Power and Transmission Company Limited. Indeed, when the proposed settlement agreement and addendum were presented to me for consideration and approval on 20th April 2020, I refused to approve the settlement deal because I was convinced that there was no basis for Sunrise’s claim.”…..CONTINUE READING>>>>>>
