Malami breaks silence on Mambilla project, rejects corruption allegation

Former Attorney-General of the Federation and Minister of Justice, Abubakar Malami, SAN, has welcomed Nigeria’s victory in the arbitration dispute with Sunrise Power and Transmission Company Limited over the Mambilla Hydroelectric Power Project, while rejecting allegations of a corrupt arrangement involving the company’s promoter, Leno Adesanya. Malami, in a statement responding to reports surrounding the 616-page arbitral award, said Nigeria’s successful defence had protected the country from substantial financial exposure and was an outcome every Nigerian should welcome irrespective of political affiliation. He, however, urged the public to distinguish between findings made by an international commercial arbitral tribunal in determining contractual claims and a criminal conviction against an individual, stressing that the proceedings were commercial arbitration and not a criminal prosecution of him. The former minister acknowledged reports of serious findings concerning the proposed settlement and its addendum, presidential approval, communications between him and Adesanya, and an alleged corrupt arrangement. He said such findings should neither be ignored nor trivialised, but examined against the complete evidentiary and documentary record. Read also: Mambilla: APC, Atiku clash over $500,000 payment Malami said the controversy surrounding Sunrise and the Mambilla project predated his appointment as Attorney-General by more than a decade, noting that Sunrise became involved in the project in 2003 and that successive administrations had been involved in efforts to resolve the resulting contractual disputes. According to him, former Attorney-General Michael Aondoakaa, SAN, had reviewed the dispute before his tenure and recommended an amicable resolution, while the Federal Government in November 2012 entered into a General Project Execution Agreement involving Sunrise and Sinohydro as part of efforts to resolve the controversy. Malami said his involvement followed a presidential directive communicated in April 2016 by the Chief of Staff to then President Muhammadu Buhari concerning outstanding disputes and competing interests in the Mambilla project He maintained that his role as Attorney-General was primarily to advise the government on its legal exposure and available options. He said the unresolved Sunrise arbitration subsequently became an obstacle to financing discussions for the Mambilla project, particularly those involving China Exim Bank, adding that discussions on September 5, 2019 between Buhari and Yang Jiechi, Special Representative of Chinese President Xi Jinping, also touched on resolving the arbitration. Read also: Nigeria wins $2.35bn arbitration over Mambilla hydropower project On the proposed $200 million settlement, Malami said Sunrise had initially demanded $500 million during negotiations in London in November 2019, while Federal Government representatives countered with $100 million before $200 million emerged as a negotiated figure. He said the consideration was aimed at resolving a dispute involving claims running into billions of dollars and removing obstacles to the project. He acknowledged that Buhari ultimately rejected the proposed payment, saying the President indicated on April 20, 2020 that the Federal Government did not have $200 million to pay Sunrise, while a subsequent request for approval in January 2021 was reportedly marked “Not approved.” Malami also denied any corrupt arrangement with Adesanya, saying he rejected suggestions that his official actions were undertaken in exchange for personal financial benefit. He noted that he was not a party to the arbitration and was not given an opportunity to present his own case before the tribunal, adding that the award was, therefore, not a criminal conviction against him. The former minister further said that after Buhari rejected the proposed payment, he instructed government lawyers to resist Sunrise’s attempt to enforce the settlement terms against Nigeria. He welcomed the eventual rejection of Sunrise’s claims and the award of substantial costs in Nigeria’s favour, saying a fuller response to the tribunal’s individual findings would follow after a detailed review of the complete award and accompanying records. Related News Firm unveils plan to boost oil palm production in Akwa Ibom Alawuba seeks to deepen Nigeria-Brazil trade, investment ties Nigeria delivers surprise jumbo rate cut to 23% Share

Malami, in a statement responding to reports surrounding the 616-page arbitral award, said Nigeria’s successful defence had protected the country from substantial financial exposure and was an outcome every Nigerian should welcome irrespective of political affiliation. He, however, urged the public to distinguish between findings made by an international commercial arbitral tribunal in determining contractual claims and a criminal conviction against an individual, stressing that the proceedings were commercial arbitration and not a criminal prosecution of him. The former minister acknowledged reports of serious findings concerning the proposed settlement and its addendum, presidential approval, communications between him and Adesanya, and an alleged corrupt arrangement. He said such findings should neither be ignored nor trivialised, but examined against the complete evidentiary and documentary record. Read also: Mambilla: APC, Atiku clash over $500,000 payment Malami said the controversy surrounding Sunrise and the Mambilla project predated his appointment as Attorney-General by more than a decade, noting that Sunrise became involved in the project in 2003 and that successive administrations had been involved in efforts to resolve the resulting contractual disputes. According to him, former Attorney-General Michael Aondoakaa, SAN, had reviewed the dispute before his tenure and recommended an amicable resolution, while the Federal Government in November 2012 entered into a General Project Execution Agreement involving Sunrise and Sinohydro as part of efforts to resolve the controversy. Malami said his involvement followed a presidential directive communicated in April 2016 by the Chief of Staff to then President Muhammadu Buhari concerning outstanding disputes and competing interests in the Mambilla project He maintained that his role as Attorney-General was primarily to advise the government on its legal exposure and available options. He said the unresolved Sunrise arbitration subsequently became an obstacle to financing discussions for the Mambilla project, particularly those involving China Exim Bank, adding that discussions on September 5, 2019 between Buhari and Yang Jiechi, Special Representative of Chinese President Xi Jinping, also touched on resolving the arbitration. Read also: Nigeria wins $2.35bn arbitration over Mambilla hydropower project On the proposed $200 million settlement, Malami said Sunrise had initially demanded $500 million during negotiations in London in November 2019, while Federal Government representatives countered with $100 million before $200 million emerged as a negotiated figure. He said the consideration was aimed at resolving a dispute involving claims running into billions of dollars and removing obstacles to the project. He acknowledged that Buhari ultimately rejected the proposed payment, saying the President indicated on April 20, 2020 that the Federal Government did not have $200 million to pay Sunrise, while a subsequent request for approval in January 2021 was reportedly marked “Not approved.” Malami also denied any corrupt arrangement with Adesanya, saying he rejected suggestions that his official actions were undertaken in exchange for personal financial benefit. He noted that he was not a party to the arbitration and was not given an opportunity to present his own case before the tribunal, adding that the award was, therefore, not a criminal conviction against him. The former minister further said that after Buhari rejected the proposed payment, he instructed government lawyers to resist Sunrise’s attempt to enforce the settlement terms against Nigeria. He welcomed the eventual rejection of Sunrise’s claims and the award of substantial costs in Nigeria’s favour, saying a fuller response to the tribunal’s individual findings would follow after a detailed review of the complete award and accompanying records. Related News Firm unveils plan to boost oil palm production in Akwa Ibom Alawuba seeks to deepen Nigeria-Brazil trade, investment ties Nigeria delivers surprise jumbo rate cut to 23% Share

He, however, urged the public to distinguish between findings made by an international commercial arbitral tribunal in determining contractual claims and a criminal conviction against an individual, stressing that the proceedings were commercial arbitration and not a criminal prosecution of him. The former minister acknowledged reports of serious findings concerning the proposed settlement and its addendum, presidential approval, communications between him and Adesanya, and an alleged corrupt arrangement. He said such findings should neither be ignored nor trivialised, but examined against the complete evidentiary and documentary record. Read also: Mambilla: APC, Atiku clash over $500,000 payment Malami said the controversy surrounding Sunrise and the Mambilla project predated his appointment as Attorney-General by more than a decade, noting that Sunrise became involved in the project in 2003 and that successive administrations had been involved in efforts to resolve the resulting contractual disputes. According to him, former Attorney-General Michael Aondoakaa, SAN, had reviewed the dispute before his tenure and recommended an amicable resolution, while the Federal Government in November 2012 entered into a General Project Execution Agreement involving Sunrise and Sinohydro as part of efforts to resolve the controversy. Malami said his involvement followed a presidential directive communicated in April 2016 by the Chief of Staff to then President Muhammadu Buhari concerning outstanding disputes and competing interests in the Mambilla project He maintained that his role as Attorney-General was primarily to advise the government on its legal exposure and available options. He said the unresolved Sunrise arbitration subsequently became an obstacle to financing discussions for the Mambilla project, particularly those involving China Exim Bank, adding that discussions on September 5, 2019 between Buhari and Yang Jiechi, Special Representative of Chinese President Xi Jinping, also touched on resolving the arbitration. Read also: Nigeria wins $2.35bn arbitration over Mambilla hydropower project On the proposed $200 million settlement, Malami said Sunrise had initially demanded $500 million during negotiations in London in November 2019, while Federal Government representatives countered with $100 million before $200 million emerged as a negotiated figure. He said the consideration was aimed at resolving a dispute involving claims running into billions of dollars and removing obstacles to the project. He acknowledged that Buhari ultimately rejected the proposed payment, saying the President indicated on April 20, 2020 that the Federal Government did not have $200 million to pay Sunrise, while a subsequent request for approval in January 2021 was reportedly marked “Not approved.” Malami also denied any corrupt arrangement with Adesanya, saying he rejected suggestions that his official actions were undertaken in exchange for personal financial benefit. He noted that he was not a party to the arbitration and was not given an opportunity to present his own case before the tribunal, adding that the award was, therefore, not a criminal conviction against him. The former minister further said that after Buhari rejected the proposed payment, he instructed government lawyers to resist Sunrise’s attempt to enforce the settlement terms against Nigeria. He welcomed the eventual rejection of Sunrise’s claims and the award of substantial costs in Nigeria’s favour, saying a fuller response to the tribunal’s individual findings would follow after a detailed review of the complete award and accompanying records. Related News Firm unveils plan to boost oil palm production in Akwa Ibom Alawuba seeks to deepen Nigeria-Brazil trade, investment ties Nigeria delivers surprise jumbo rate cut to 23% Share

The former minister acknowledged reports of serious findings concerning the proposed settlement and its addendum, presidential approval, communications between him and Adesanya, and an alleged corrupt arrangement. He said such findings should neither be ignored nor trivialised, but examined against the complete evidentiary and documentary record. Read also: Mambilla: APC, Atiku clash over $500,000 payment Malami said the controversy surrounding Sunrise and the Mambilla project predated his appointment as Attorney-General by more than a decade, noting that Sunrise became involved in the project in 2003 and that successive administrations had been involved in efforts to resolve the resulting contractual disputes. According to him, former Attorney-General Michael Aondoakaa, SAN, had reviewed the dispute before his tenure and recommended an amicable resolution, while the Federal Government in November 2012 entered into a General Project Execution Agreement involving Sunrise and Sinohydro as part of efforts to resolve the controversy. Malami said his involvement followed a presidential directive communicated in April 2016 by the Chief of Staff to then President Muhammadu Buhari concerning outstanding disputes and competing interests in the Mambilla project He maintained that his role as Attorney-General was primarily to advise the government on its legal exposure and available options. He said the unresolved Sunrise arbitration subsequently became an obstacle to financing discussions for the Mambilla project, particularly those involving China Exim Bank, adding that discussions on September 5, 2019 between Buhari and Yang Jiechi, Special Representative of Chinese President Xi Jinping, also touched on resolving the arbitration. Read also: Nigeria wins $2.35bn arbitration over Mambilla hydropower project On the proposed $200 million settlement, Malami said Sunrise had initially demanded $500 million during negotiations in London in November 2019, while Federal Government representatives countered with $100 million before $200 million emerged as a negotiated figure. He said the consideration was aimed at resolving a dispute involving claims running into billions of dollars and removing obstacles to the project. He acknowledged that Buhari ultimately rejected the proposed payment, saying the President indicated on April 20, 2020 that the Federal Government did not have $200 million to pay Sunrise, while a subsequent request for approval in January 2021 was reportedly marked “Not approved.” Malami also denied any corrupt arrangement with Adesanya, saying he rejected suggestions that his official actions were undertaken in exchange for personal financial benefit. He noted that he was not a party to the arbitration and was not given an opportunity to present his own case before the tribunal, adding that the award was, therefore, not a criminal conviction against him. The former minister further said that after Buhari rejected the proposed payment, he instructed government lawyers to resist Sunrise’s attempt to enforce the settlement terms against Nigeria. He welcomed the eventual rejection of Sunrise’s claims and the award of substantial costs in Nigeria’s favour, saying a fuller response to the tribunal’s individual findings would follow after a detailed review of the complete award and accompanying records. Related News Firm unveils plan to boost oil palm production in Akwa Ibom Alawuba seeks to deepen Nigeria-Brazil trade, investment ties Nigeria delivers surprise jumbo rate cut to 23% Share

He said such findings should neither be ignored nor trivialised, but examined against the complete evidentiary and documentary record. Read also: Mambilla: APC, Atiku clash over $500,000 payment Malami said the controversy surrounding Sunrise and the Mambilla project predated his appointment as Attorney-General by more than a decade, noting that Sunrise became involved in the project in 2003 and that successive administrations had been involved in efforts to resolve the resulting contractual disputes. According to him, former Attorney-General Michael Aondoakaa, SAN, had reviewed the dispute before his tenure and recommended an amicable resolution, while the Federal Government in November 2012 entered into a General Project Execution Agreement involving Sunrise and Sinohydro as part of efforts to resolve the controversy. Malami said his involvement followed a presidential directive communicated in April 2016 by the Chief of Staff to then President Muhammadu Buhari concerning outstanding disputes and competing interests in the Mambilla project He maintained that his role as Attorney-General was primarily to advise the government on its legal exposure and available options. He said the unresolved Sunrise arbitration subsequently became an obstacle to financing discussions for the Mambilla project, particularly those involving China Exim Bank, adding that discussions on September 5, 2019 between Buhari and Yang Jiechi, Special Representative of Chinese President Xi Jinping, also touched on resolving the arbitration. Read also: Nigeria wins $2.35bn arbitration over Mambilla hydropower project On the proposed $200 million settlement, Malami said Sunrise had initially demanded $500 million during negotiations in London in November 2019, while Federal Government representatives countered with $100 million before $200 million emerged as a negotiated figure. He said the consideration was aimed at resolving a dispute involving claims running into billions of dollars and removing obstacles to the project. He acknowledged that Buhari ultimately rejected the proposed payment, saying the President indicated on April 20, 2020 that the Federal Government did not have $200 million to pay Sunrise, while a subsequent request for approval in January 2021 was reportedly marked “Not approved.” Malami also denied any corrupt arrangement with Adesanya, saying he rejected suggestions that his official actions were undertaken in exchange for personal financial benefit. He noted that he was not a party to the arbitration and was not given an opportunity to present his own case before the tribunal, adding that the award was, therefore, not a criminal conviction against him. The former minister further said that after Buhari rejected the proposed payment, he instructed government lawyers to resist Sunrise’s attempt to enforce the settlement terms against Nigeria. He welcomed the eventual rejection of Sunrise’s claims and the award of substantial costs in Nigeria’s favour, saying a fuller response to the tribunal’s individual findings would follow after a detailed review of the complete award and accompanying records. Related News Firm unveils plan to boost oil palm production in Akwa Ibom Alawuba seeks to deepen Nigeria-Brazil trade, investment ties Nigeria delivers surprise jumbo rate cut to 23% Share

Read also: Mambilla: APC, Atiku clash over $500,000 payment Malami said the controversy surrounding Sunrise and the Mambilla project predated his appointment as Attorney-General by more than a decade, noting that Sunrise became involved in the project in 2003 and that successive administrations had been involved in efforts to resolve the resulting contractual disputes. According to him, former Attorney-General Michael Aondoakaa, SAN, had reviewed the dispute before his tenure and recommended an amicable resolution, while the Federal Government in November 2012 entered into a General Project Execution Agreement involving Sunrise and Sinohydro as part of efforts to resolve the controversy. Malami said his involvement followed a presidential directive communicated in April 2016 by the Chief of Staff to then President Muhammadu Buhari concerning outstanding disputes and competing interests in the Mambilla project He maintained that his role as Attorney-General was primarily to advise the government on its legal exposure and available options. He said the unresolved Sunrise arbitration subsequently became an obstacle to financing discussions for the Mambilla project, particularly those involving China Exim Bank, adding that discussions on September 5, 2019 between Buhari and Yang Jiechi, Special Representative of Chinese President Xi Jinping, also touched on resolving the arbitration. Read also: Nigeria wins $2.35bn arbitration over Mambilla hydropower project On the proposed $200 million settlement, Malami said Sunrise had initially demanded $500 million during negotiations in London in November 2019, while Federal Government representatives countered with $100 million before $200 million emerged as a negotiated figure. He said the consideration was aimed at resolving a dispute involving claims running into billions of dollars and removing obstacles to the project. He acknowledged that Buhari ultimately rejected the proposed payment, saying the President indicated on April 20, 2020 that the Federal Government did not have $200 million to pay Sunrise, while a subsequent request for approval in January 2021 was reportedly marked “Not approved.” Malami also denied any corrupt arrangement with Adesanya, saying he rejected suggestions that his official actions were undertaken in exchange for personal financial benefit. He noted that he was not a party to the arbitration and was not given an opportunity to present his own case before the tribunal, adding that the award was, therefore, not a criminal conviction against him. The former minister further said that after Buhari rejected the proposed payment, he instructed government lawyers to resist Sunrise’s attempt to enforce the settlement terms against Nigeria. He welcomed the eventual rejection of Sunrise’s claims and the award of substantial costs in Nigeria’s favour, saying a fuller response to the tribunal’s individual findings would follow after a detailed review of the complete award and accompanying records. Related News Firm unveils plan to boost oil palm production in Akwa Ibom Alawuba seeks to deepen Nigeria-Brazil trade, investment ties Nigeria delivers surprise jumbo rate cut to 23% Share

Malami said the controversy surrounding Sunrise and the Mambilla project predated his appointment as Attorney-General by more than a decade, noting that Sunrise became involved in the project in 2003 and that successive administrations had been involved in efforts to resolve the resulting contractual disputes. According to him, former Attorney-General Michael Aondoakaa, SAN, had reviewed the dispute before his tenure and recommended an amicable resolution, while the Federal Government in November 2012 entered into a General Project Execution Agreement involving Sunrise and Sinohydro as part of efforts to resolve the controversy. Malami said his involvement followed a presidential directive communicated in April 2016 by the Chief of Staff to then President Muhammadu Buhari concerning outstanding disputes and competing interests in the Mambilla project He maintained that his role as Attorney-General was primarily to advise the government on its legal exposure and available options. He said the unresolved Sunrise arbitration subsequently became an obstacle to financing discussions for the Mambilla project, particularly those involving China Exim Bank, adding that discussions on September 5, 2019 between Buhari and Yang Jiechi, Special Representative of Chinese President Xi Jinping, also touched on resolving the arbitration. Read also: Nigeria wins $2.35bn arbitration over Mambilla hydropower project On the proposed $200 million settlement, Malami said Sunrise had initially demanded $500 million during negotiations in London in November 2019, while Federal Government representatives countered with $100 million before $200 million emerged as a negotiated figure. He said the consideration was aimed at resolving a dispute involving claims running into billions of dollars and removing obstacles to the project. He acknowledged that Buhari ultimately rejected the proposed payment, saying the President indicated on April 20, 2020 that the Federal Government did not have $200 million to pay Sunrise, while a subsequent request for approval in January 2021 was reportedly marked “Not approved.” Malami also denied any corrupt arrangement with Adesanya, saying he rejected suggestions that his official actions were undertaken in exchange for personal financial benefit. He noted that he was not a party to the arbitration and was not given an opportunity to present his own case before the tribunal, adding that the award was, therefore, not a criminal conviction against him. The former minister further said that after Buhari rejected the proposed payment, he instructed government lawyers to resist Sunrise’s attempt to enforce the settlement terms against Nigeria. He welcomed the eventual rejection of Sunrise’s claims and the award of substantial costs in Nigeria’s favour, saying a fuller response to the tribunal’s individual findings would follow after a detailed review of the complete award and accompanying records. Related News Firm unveils plan to boost oil palm production in Akwa Ibom Alawuba seeks to deepen Nigeria-Brazil trade, investment ties Nigeria delivers surprise jumbo rate cut to 23% Share

According to him, former Attorney-General Michael Aondoakaa, SAN, had reviewed the dispute before his tenure and recommended an amicable resolution, while the Federal Government in November 2012 entered into a General Project Execution Agreement involving Sunrise and Sinohydro as part of efforts to resolve the controversy. Malami said his involvement followed a presidential directive communicated in April 2016 by the Chief of Staff to then President Muhammadu Buhari concerning outstanding disputes and competing interests in the Mambilla project He maintained that his role as Attorney-General was primarily to advise the government on its legal exposure and available options. He said the unresolved Sunrise arbitration subsequently became an obstacle to financing discussions for the Mambilla project, particularly those involving China Exim Bank, adding that discussions on September 5, 2019 between Buhari and Yang Jiechi, Special Representative of Chinese President Xi Jinping, also touched on resolving the arbitration. Read also: Nigeria wins $2.35bn arbitration over Mambilla hydropower project On the proposed $200 million settlement, Malami said Sunrise had initially demanded $500 million during negotiations in London in November 2019, while Federal Government representatives countered with $100 million before $200 million emerged as a negotiated figure. He said the consideration was aimed at resolving a dispute involving claims running into billions of dollars and removing obstacles to the project. He acknowledged that Buhari ultimately rejected the proposed payment, saying the President indicated on April 20, 2020 that the Federal Government did not have $200 million to pay Sunrise, while a subsequent request for approval in January 2021 was reportedly marked “Not approved.” Malami also denied any corrupt arrangement with Adesanya, saying he rejected suggestions that his official actions were undertaken in exchange for personal financial benefit. He noted that he was not a party to the arbitration and was not given an opportunity to present his own case before the tribunal, adding that the award was, therefore, not a criminal conviction against him. The former minister further said that after Buhari rejected the proposed payment, he instructed government lawyers to resist Sunrise’s attempt to enforce the settlement terms against Nigeria. He welcomed the eventual rejection of Sunrise’s claims and the award of substantial costs in Nigeria’s favour, saying a fuller response to the tribunal’s individual findings would follow after a detailed review of the complete award and accompanying records. Related News Firm unveils plan to boost oil palm production in Akwa Ibom Alawuba seeks to deepen Nigeria-Brazil trade, investment ties Nigeria delivers surprise jumbo rate cut to 23% Share

Malami said his involvement followed a presidential directive communicated in April 2016 by the Chief of Staff to then President Muhammadu Buhari concerning outstanding disputes and competing interests in the Mambilla project He maintained that his role as Attorney-General was primarily to advise the government on its legal exposure and available options. He said the unresolved Sunrise arbitration subsequently became an obstacle to financing discussions for the Mambilla project, particularly those involving China Exim Bank, adding that discussions on September 5, 2019 between Buhari and Yang Jiechi, Special Representative of Chinese President Xi Jinping, also touched on resolving the arbitration. Read also: Nigeria wins $2.35bn arbitration over Mambilla hydropower project On the proposed $200 million settlement, Malami said Sunrise had initially demanded $500 million during negotiations in London in November 2019, while Federal Government representatives countered with $100 million before $200 million emerged as a negotiated figure. He said the consideration was aimed at resolving a dispute involving claims running into billions of dollars and removing obstacles to the project. He acknowledged that Buhari ultimately rejected the proposed payment, saying the President indicated on April 20, 2020 that the Federal Government did not have $200 million to pay Sunrise, while a subsequent request for approval in January 2021 was reportedly marked “Not approved.” Malami also denied any corrupt arrangement with Adesanya, saying he rejected suggestions that his official actions were undertaken in exchange for personal financial benefit. He noted that he was not a party to the arbitration and was not given an opportunity to present his own case before the tribunal, adding that the award was, therefore, not a criminal conviction against him. The former minister further said that after Buhari rejected the proposed payment, he instructed government lawyers to resist Sunrise’s attempt to enforce the settlement terms against Nigeria. He welcomed the eventual rejection of Sunrise’s claims and the award of substantial costs in Nigeria’s favour, saying a fuller response to the tribunal’s individual findings would follow after a detailed review of the complete award and accompanying records. Related News Firm unveils plan to boost oil palm production in Akwa Ibom Alawuba seeks to deepen Nigeria-Brazil trade, investment ties Nigeria delivers surprise jumbo rate cut to 23% Share

He maintained that his role as Attorney-General was primarily to advise the government on its legal exposure and available options. He said the unresolved Sunrise arbitration subsequently became an obstacle to financing discussions for the Mambilla project, particularly those involving China Exim Bank, adding that discussions on September 5, 2019 between Buhari and Yang Jiechi, Special Representative of Chinese President Xi Jinping, also touched on resolving the arbitration. Read also: Nigeria wins $2.35bn arbitration over Mambilla hydropower project On the proposed $200 million settlement, Malami said Sunrise had initially demanded $500 million during negotiations in London in November 2019, while Federal Government representatives countered with $100 million before $200 million emerged as a negotiated figure. He said the consideration was aimed at resolving a dispute involving claims running into billions of dollars and removing obstacles to the project. He acknowledged that Buhari ultimately rejected the proposed payment, saying the President indicated on April 20, 2020 that the Federal Government did not have $200 million to pay Sunrise, while a subsequent request for approval in January 2021 was reportedly marked “Not approved.” Malami also denied any corrupt arrangement with Adesanya, saying he rejected suggestions that his official actions were undertaken in exchange for personal financial benefit. He noted that he was not a party to the arbitration and was not given an opportunity to present his own case before the tribunal, adding that the award was, therefore, not a criminal conviction against him. The former minister further said that after Buhari rejected the proposed payment, he instructed government lawyers to resist Sunrise’s attempt to enforce the settlement terms against Nigeria. He welcomed the eventual rejection of Sunrise’s claims and the award of substantial costs in Nigeria’s favour, saying a fuller response to the tribunal’s individual findings would follow after a detailed review of the complete award and accompanying records. Related News Firm unveils plan to boost oil palm production in Akwa Ibom Alawuba seeks to deepen Nigeria-Brazil trade, investment ties Nigeria delivers surprise jumbo rate cut to 23% Share

He said the unresolved Sunrise arbitration subsequently became an obstacle to financing discussions for the Mambilla project, particularly those involving China Exim Bank, adding that discussions on September 5, 2019 between Buhari and Yang Jiechi, Special Representative of Chinese President Xi Jinping, also touched on resolving the arbitration. Read also: Nigeria wins $2.35bn arbitration over Mambilla hydropower project On the proposed $200 million settlement, Malami said Sunrise had initially demanded $500 million during negotiations in London in November 2019, while Federal Government representatives countered with $100 million before $200 million emerged as a negotiated figure. He said the consideration was aimed at resolving a dispute involving claims running into billions of dollars and removing obstacles to the project. He acknowledged that Buhari ultimately rejected the proposed payment, saying the President indicated on April 20, 2020 that the Federal Government did not have $200 million to pay Sunrise, while a subsequent request for approval in January 2021 was reportedly marked “Not approved.” Malami also denied any corrupt arrangement with Adesanya, saying he rejected suggestions that his official actions were undertaken in exchange for personal financial benefit. He noted that he was not a party to the arbitration and was not given an opportunity to present his own case before the tribunal, adding that the award was, therefore, not a criminal conviction against him. The former minister further said that after Buhari rejected the proposed payment, he instructed government lawyers to resist Sunrise’s attempt to enforce the settlement terms against Nigeria. He welcomed the eventual rejection of Sunrise’s claims and the award of substantial costs in Nigeria’s favour, saying a fuller response to the tribunal’s individual findings would follow after a detailed review of the complete award and accompanying records. Related News Firm unveils plan to boost oil palm production in Akwa Ibom Alawuba seeks to deepen Nigeria-Brazil trade, investment ties Nigeria delivers surprise jumbo rate cut to 23% Share

Read also: Nigeria wins $2.35bn arbitration over Mambilla hydropower project On the proposed $200 million settlement, Malami said Sunrise had initially demanded $500 million during negotiations in London in November 2019, while Federal Government representatives countered with $100 million before $200 million emerged as a negotiated figure. He said the consideration was aimed at resolving a dispute involving claims running into billions of dollars and removing obstacles to the project. He acknowledged that Buhari ultimately rejected the proposed payment, saying the President indicated on April 20, 2020 that the Federal Government did not have $200 million to pay Sunrise, while a subsequent request for approval in January 2021 was reportedly marked “Not approved.” Malami also denied any corrupt arrangement with Adesanya, saying he rejected suggestions that his official actions were undertaken in exchange for personal financial benefit. He noted that he was not a party to the arbitration and was not given an opportunity to present his own case before the tribunal, adding that the award was, therefore, not a criminal conviction against him. The former minister further said that after Buhari rejected the proposed payment, he instructed government lawyers to resist Sunrise’s attempt to enforce the settlement terms against Nigeria. He welcomed the eventual rejection of Sunrise’s claims and the award of substantial costs in Nigeria’s favour, saying a fuller response to the tribunal’s individual findings would follow after a detailed review of the complete award and accompanying records. Related News Firm unveils plan to boost oil palm production in Akwa Ibom Alawuba seeks to deepen Nigeria-Brazil trade, investment ties Nigeria delivers surprise jumbo rate cut to 23% Share

On the proposed $200 million settlement, Malami said Sunrise had initially demanded $500 million during negotiations in London in November 2019, while Federal Government representatives countered with $100 million before $200 million emerged as a negotiated figure. He said the consideration was aimed at resolving a dispute involving claims running into billions of dollars and removing obstacles to the project. He acknowledged that Buhari ultimately rejected the proposed payment, saying the President indicated on April 20, 2020 that the Federal Government did not have $200 million to pay Sunrise, while a subsequent request for approval in January 2021 was reportedly marked “Not approved.” Malami also denied any corrupt arrangement with Adesanya, saying he rejected suggestions that his official actions were undertaken in exchange for personal financial benefit. He noted that he was not a party to the arbitration and was not given an opportunity to present his own case before the tribunal, adding that the award was, therefore, not a criminal conviction against him. The former minister further said that after Buhari rejected the proposed payment, he instructed government lawyers to resist Sunrise’s attempt to enforce the settlement terms against Nigeria. He welcomed the eventual rejection of Sunrise’s claims and the award of substantial costs in Nigeria’s favour, saying a fuller response to the tribunal’s individual findings would follow after a detailed review of the complete award and accompanying records. Related News Firm unveils plan to boost oil palm production in Akwa Ibom Alawuba seeks to deepen Nigeria-Brazil trade, investment ties Nigeria delivers surprise jumbo rate cut to 23% Share

He said the consideration was aimed at resolving a dispute involving claims running into billions of dollars and removing obstacles to the project. He acknowledged that Buhari ultimately rejected the proposed payment, saying the President indicated on April 20, 2020 that the Federal Government did not have $200 million to pay Sunrise, while a subsequent request for approval in January 2021 was reportedly marked “Not approved.” Malami also denied any corrupt arrangement with Adesanya, saying he rejected suggestions that his official actions were undertaken in exchange for personal financial benefit. He noted that he was not a party to the arbitration and was not given an opportunity to present his own case before the tribunal, adding that the award was, therefore, not a criminal conviction against him. The former minister further said that after Buhari rejected the proposed payment, he instructed government lawyers to resist Sunrise’s attempt to enforce the settlement terms against Nigeria. He welcomed the eventual rejection of Sunrise’s claims and the award of substantial costs in Nigeria’s favour, saying a fuller response to the tribunal’s individual findings would follow after a detailed review of the complete award and accompanying records. Related News Firm unveils plan to boost oil palm production in Akwa Ibom Alawuba seeks to deepen Nigeria-Brazil trade, investment ties Nigeria delivers surprise jumbo rate cut to 23% Share

He acknowledged that Buhari ultimately rejected the proposed payment, saying the President indicated on April 20, 2020 that the Federal Government did not have $200 million to pay Sunrise, while a subsequent request for approval in January 2021 was reportedly marked “Not approved.” Malami also denied any corrupt arrangement with Adesanya, saying he rejected suggestions that his official actions were undertaken in exchange for personal financial benefit. He noted that he was not a party to the arbitration and was not given an opportunity to present his own case before the tribunal, adding that the award was, therefore, not a criminal conviction against him. The former minister further said that after Buhari rejected the proposed payment, he instructed government lawyers to resist Sunrise’s attempt to enforce the settlement terms against Nigeria. He welcomed the eventual rejection of Sunrise’s claims and the award of substantial costs in Nigeria’s favour, saying a fuller response to the tribunal’s individual findings would follow after a detailed review of the complete award and accompanying records. Related News Firm unveils plan to boost oil palm production in Akwa Ibom Alawuba seeks to deepen Nigeria-Brazil trade, investment ties Nigeria delivers surprise jumbo rate cut to 23% Share

Malami also denied any corrupt arrangement with Adesanya, saying he rejected suggestions that his official actions were undertaken in exchange for personal financial benefit. He noted that he was not a party to the arbitration and was not given an opportunity to present his own case before the tribunal, adding that the award was, therefore, not a criminal conviction against him. The former minister further said that after Buhari rejected the proposed payment, he instructed government lawyers to resist Sunrise’s attempt to enforce the settlement terms against Nigeria. He welcomed the eventual rejection of Sunrise’s claims and the award of substantial costs in Nigeria’s favour, saying a fuller response to the tribunal’s individual findings would follow after a detailed review of the complete award and accompanying records. Related News Firm unveils plan to boost oil palm production in Akwa Ibom Alawuba seeks to deepen Nigeria-Brazil trade, investment ties Nigeria delivers surprise jumbo rate cut to 23% Share

He noted that he was not a party to the arbitration and was not given an opportunity to present his own case before the tribunal, adding that the award was, therefore, not a criminal conviction against him. The former minister further said that after Buhari rejected the proposed payment, he instructed government lawyers to resist Sunrise’s attempt to enforce the settlement terms against Nigeria. He welcomed the eventual rejection of Sunrise’s claims and the award of substantial costs in Nigeria’s favour, saying a fuller response to the tribunal’s individual findings would follow after a detailed review of the complete award and accompanying records. Related News Firm unveils plan to boost oil palm production in Akwa Ibom Alawuba seeks to deepen Nigeria-Brazil trade, investment ties Nigeria delivers surprise jumbo rate cut to 23% Share

The former minister further said that after Buhari rejected the proposed payment, he instructed government lawyers to resist Sunrise’s attempt to enforce the settlement terms against Nigeria. He welcomed the eventual rejection of Sunrise’s claims and the award of substantial costs in Nigeria’s favour, saying a fuller response to the tribunal’s individual findings would follow after a detailed review of the complete award and accompanying records. Related News Firm unveils plan to boost oil palm production in Akwa Ibom Alawuba seeks to deepen Nigeria-Brazil trade, investment ties Nigeria delivers surprise jumbo rate cut to 23% Share

He welcomed the eventual rejection of Sunrise’s claims and the award of substantial costs in Nigeria’s favour, saying a fuller response to the tribunal’s individual findings would follow after a detailed review of the complete award and accompanying records. Related News Firm unveils plan to boost oil palm production in Akwa Ibom Alawuba seeks to deepen Nigeria-Brazil trade, investment ties Nigeria delivers surprise jumbo rate cut to 23% Share