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Olusegun Obasanjo and Muhammadu Buhari have testified in a Paris court over a $2.5 billion dispute related to the Mambilla Power Project.
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The two leaders denied claims that the Federal Government awarded a $6 billion contract to Sunrise Power and Transmission Company Limited.
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Obasanjo and Buhari argued that the alleged 2003 agreement between the government and Sunrise Power is invalid.
Former Nigerian Presidents Olusegun Obasanjo and Muhammadu Buhari have testified before the International Chamber of Commerce Court of Arbitration in Paris, France.
The two leaders denied claims that the Federal Government awarded a $6 billion contract for the Mambilla Power Project in Taraba State to Sunrise Power and Transmission Company Limited.
The arbitration case was initiated by Sunrise Power and its founder, Leno Adesanya, who are demanding $2.3 billion in compensation over an alleged breach of contract by the Federal Government.
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In their testimonies, Obasanjo and Buhari argued that the alleged 2003 agreement between the Federal Government and Sunrise Power is invalid.
They maintained that Sunrise obtained a letter of award, signed by a former Minister of Power, Dr. Olu Agunloye, just 24 hours after the Federal Executive Council (FEC) rejected the company’s proposal.
The former presidents urged the arbitration court to disregard the document, asserting it was not a legitimate government contract.
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Agunloye, who served as Minister of Power during Obasanjo’s administration, is currently facing trial in Abuja on charges of forgery, disobedience of a presidential directive, and corruption concerning the Mambilla project.
The Economic and Financial Crimes Commission (EFCC) accused Agunloye of awarding a contract for the construction of the 3,960MW Mambilla Hydroelectric Power Station to Sunrise Power without budgetary provision, approval, or cash backing.
Agunloye has dismissed the allegations, claiming the government is using him as a scapegoat to discredit Sunrise’s case before the arbitration panel.
Tinubu Meets Obasanjo, Jonathan at Mahama’s Inauguration
President Bola Ahmed Tinubu on Tuesday attended the swearing-in ceremony of Ghana’s new President, John Mahama, in Accra, where he met with former Nigerian Presidents Olusegun Obasanjo and Goodluck Jonathan.
The Nigerian leaders were captured exchanging warm handshakes during the ceremony.
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