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Nigeria: $6bn Mambilla Power Contract Deal - Obasanjo, Buhari Testify in Paris Court

  • Former Presidents Olusegun Obasanjo and Muhammadu Buhari are testifying at the International Chamber of Commerce in Paris regarding a $2.3 billion arbitration case filed against Nigeria by Sunrise Power for breach of contract.
  • Sunrise Power claims a $2.354 billion award for a breach of a 2003 agreement to build a $6 billion power plant in Mambilla, Taraba State, and filed a $400 million compensation claim after a failed settlement.
  • The Economic and Financial Crimes Commission declared former Minister Olu Agunloye wanted over allegations of $6 billion fraud linked to the Mambilla hydropower contract.
  • Former Attorney General Michael Aondoakaa stated he would not testify in the arbitration, clarifying that his decision was voluntary and he was not intimidated by the federal government.
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