Alleged $2.3bn fraud: ‘I’m ready to testify in court’

Former President Olusegun Obasanjo has announced his preparedness to provide testimony on behalf of Nigeria in relation to the disputed $2.3 billion Mambilla power contract involving former Minister of Power and Steel, Olu Agunloye.

A disagreement has arisen between Sunrise Power and Nigeria at the International Chamber of Commerce (ICC) in Paris, France. Sunrise Power claims a breach of contract and asserts that it was granted a $6 billion contract for construction, operation, and transfer in May 2003 under the administration of former President Olusegun Obasanjo. The company alleges that the Nigerian government repudiated the agreement and is seeking $2.3 billion in compensation, citing significant financial investments in consultants prior to the contract’s abandonment.

In response, the Nigerian government contends that there was fraud and corruption involving public officials in the award of the contract. Former President Obasanjo, in a letter addressed to the Attorney General of the Federation and Minister of Justice Lateef Fagbemi, has expressed his willingness to testify on behalf of the Nigerian government “in any form.”