COVER
EFCC Probes $6bn Mambilla Power Project
By Eze Okechukwu, Abuja
The Economic and Financial Crimes Commission (EFCC) has launched an investigation into the $6 billion Mambilla Power Project which is a subject of legal tussle.
Minister of Power, Engr.
Abubakar Aliyu disclosed this yesterday when he appeared before the Senate Committee on Power to defend the 2023 budget.The Chairman Senate Committee on Power, Senator Gabriel Suswam had earlier raised concern over the situation of Mambilla Power Project.
The Minister said the Ministry has met with stakeholders and all issues of concern is currently been resolved adding that the issue of litigation on the Mambilla power project is hampering the project.
“Regarding Mambilla, we have met with stakeholders and we are resolving the situation. It has something to do with litigation, there is nothing going on as regards moving to site by the contractor.
“EFCC has stepped into the matter and we have given them information about it, we have given them history of Power Project, our lawyers had interfaced with the anti-graft agency, unless we are able to pull out of litigation, we can’t do anything.
“I don’t think the investor will bring their money where there is encumbrance,” Engr. Aliyu said.
Speaking on the project, Senator Suswam said that the project is a mirage as far as National Assembly is concern adding that money has been budgeted year in year out and there is nothing on ground to show for it.
According to him, “to us in National Assembly, the Mambilla Power Project is mirage, there is nothing to show for it despite the money that has been provided year in, year out.
“It is clear that the Mambilla power project will not be able to start before the end of this administration,” he said.
Federal Government awarded a $6 billion Build, Operate and Transfer (BOT) contract to Sunrise Power and Transmission Co. Limited and its Chinese consortium partners on May 22, 2003.
Sunrise consortium had secured $5.5 billion in Chinese Eximbank loans in 2005, while the Nigerian government, on May 28, 2007, signed a $1.46 billion civil works contract with the Chinese firm, Messrs China Gezhouba Group Corporation/China Geo-Engineering Corporation (CGGC/ CGC), in clear violation of Sunrise’s BOT contract.
In November 2007, Sunrise filed a petition to then President Umaru Musa Yar’Adua and the $1.46 billion EPC contract was terminated in 2009.
Nigerian government signed a General Project Execution Agreement (GOEA) with Sunrise and its Chinese consortium partners for the execution of the Mambilla hydropower project.
However, on November 12, 2017, government signed a $5.8 billion EPC contract with another Chinese Consortium, despite numerous written warnings from the current Attorney-General of the Federation to the Federal Ministry of Power, Works and Housing in 2016 and 2017 to respect the GPEA contract with Sunrise. Sunrise resorted to arbitration against the Nigerian State and Sinohydro consortium of China in 2018, claiming $2.3 billion in damages.
With the intervention of the Chinese president, who sent a special envoy to President Muhammadu Buhari in July 2019, Federal Government and Sunrise signed a settlement agreement in January 2020 and this settlement was advised to both the Chinese Ambassador to Nigeria and Chairman of China Eximbank, who had made the settlement condition precedent to any loans for the Project.
However, the Federal Government defaulted. Sunrise, in September 2021, withdrew the $500 million settlement arbitration on the condition that the Federal Government makes a financial commitment towards the project and respects its right as the exclusive local content partner, but the Federal Government failed again to make any payments to the EPC contractors and/or the counterpart funds to China Eximbank.
While the Federal Government has been unable to defend its failure to honour its agreements to Sunrise, however, the government requested that the ICC should direct “that Sunrise produce certain information showing its true legal and beneficial ownership.”
The request, according to the government, was based on the allegation that there exist Pandora papers suggesting that Mr Leno Adesanya secretly transferred an interest in Sunrise to the family of Nigeria’s former National Security Adviser, Mr Sambo Dasuki.
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DAILY ASSET Appoints Torough, Editor, Names Eze, Deputy
By Laide Akinboade, Abuja
As part of efforts to reposition the newspaper for optimum corporate performance, the management of Asset Newspapers Limited, Publishers of DAILY ASSET, has announced the appointment of David Torough as the Editor of the Abuja-based national daily.
A statement by the management said the appointments were part of the company’s new strategy to further penetrate the various states in the country and raise its readership and patronage.
“DAILY ASSET is widely acceptable across the country and to maintain our leadership position, we need to increase management presence, hence the need to create new Bureau offices in some locations outside Abuja and Lagos,” the statement quoted the Publisher/ Editor-in-Chief, Dr Cletus Akwaya to have said.
In a statement yesterday, Publisher and Editor-in-Chief of the fast-growing daily, Dr. Cletus Akwaya said the appointment was part of the new strategy to properly situate the paper for better productivity.
“DAILY ASSET has a commitment with the Nigerian people. We are determined to weather the storm and give Nigerian readers a Newspaper that satisfies their yearnings and reading pleasure and we can only do that with the right set of professionals,” the statement said.
Akwaya, a former Commissioner of Information from Benue State said the difficult times being faced by Nigerians posed a great challenge to the media as the people deserved credible information with which to make choices.
“We have a bond with the people, to offer credible information at all times in the best tradition of the Nigerian Press and on this scale of objectivity, truth and fairness, we pledge to remain steadfast no matter the challenges,” Akwaya was quoted to have said.
He said the newspaper will maiantin its daily print run and circulation to all states of the federation and urged advertisers to take advantage of the deep penetration of the Daily Asset brand to send their messages.
Torough, the new Editor has had a steady rise in the Newspaper in the last five years.
A graduate of Mass communication of the Benue State University, Makurdi, Torough joined the company in 2022 as Benue State Correspondent. He was spotted for his brilliance and redeployed to Abuja the following year and promoted to Deputy News Editor. He was subswuently named Deputy Editor of the paper, a position he held until the recent appointment.
Torough has attended several journalistic workshops and trainings to properly equip himself for the task ahead.
The statement also said the Management named Eze Okechukwu as Deputy Editor.
Before his elevation as Deputy Editor, Eze has been Deputy Politics Editor and DAILY ASSET Newspaper correspondent covering the Senate, having joined the organization in 2021.
Born on March 10, 1975, Eze holds a Masters Degree in Mass Communication from the Enugu State University of Science and Technology.
Eze began his journalism career with Daily Star, Enugu and later worked with Daily Trust Newspaper, Abuja as sports reporter.
Aside from his journalistic excellence, he has a great deal of passion for sports.
COVER
Insecurity: Northern Govs, Monarchs Seek Six-month Mining Suspension
From Ngutor Dekera, Kaduna and Aliyu Askira, Kano
Northern governors and traditional rulers yesterday called for the suspension of mining activities across the region for six months, blaming illegal mining for worsening insecurity in many states.
The resolution was contained in a communiqué issued after a joint meeting of the Northern States Governors’ Forum and the Northern Traditional Rulers’ Council held at the Sir Kashim Ibrahim House, Kaduna. The meeting, chaired by the Gombe State Governor and NSGF Chairman, Muhammadu Yahaya, had in attendance the 19 northern governors and chairmen of the 19 states’ traditional councils.The Forum expressed concern over the escalating violence in parts of the North, including the killings and abductions recently recorded in Kebbi, Kwara, Kogi, Niger, Sokoto, Jigawa and Kano states, as well as renewed Boko Haram attacks in Borno and Yobe.“The Forum extends its deepest condolences and solidarity to the governments and good people of the affected states,” the communiqué said, noting that the attacks on schoolchildren and other citizens had become “unacceptable tragedies” that required urgent collective action.It commended President Bola Tinubu for what it described as the Federal Government’s “firm response” to recent abductions and insurgency threats, especially the rescue of some abducted pupils.The governors also saluted security agencies for their sacrifices on the frontlines.“We resolved to renew our support for every step taken by the President and Commander-in-Chief to take the fight to insurgents’ enclaves in order to end the criminality,” the Forum stated.A major highlight of the meeting was the North’s renewed push for the establishment of state police, with governors and traditional rulers insisting that decentralised policing had become inevitable.“The Forum reaffirms its wholehearted support and commitment to the establishment of state police,” the communiqué added, urging federal and state lawmakers from the region to “expedite action for its actualisation.”On illegal mining, the governors said criminal mining networks were fuelling violence and providing resources for armed groups.As a corrective measure, they asked Tinubu to direct the Minister of Solid Minerals to impose a six-month suspension of mining activities in order to allow for a full audit and revalidation of licences.“The Forum observed that illegal mining has become a major contributory factor to the security crises in Northern Nigeria. “We strongly recommend a suspension of mining exploration for six months to allow proper audit and to arrest the menace of artisanal illegal mining,” it said.To strengthen the fight against insecurity, the governors also announced the creation of a regional Security Trust Fund.Under the proposed arrangement, each state and its local governments will contribute ₦1bn monthly, to be deducted at source under an agreed framework.They said the fund would help provide sustainable financing for joint operations, intelligence-driven interventions and coordinated security responses across the region.At the end of the meeting, the Forum reaffirmed its commitment to unity and collective responsibility.“Only through unity, peer review and cooperation can we overcome the pressing challenges before us,” it declared.The Forum agreed to reconvene on a date to be announced.Meanwhile, Nigeria’s worsening security crisis took a grim turn on Monday as bandits launched fresh attacks in Kano State, abducting 25 villagers, even as the Federal Government raced to secure the release of more than 300 Catholic school children kidnapped in Niger State.In the early hours of Monday, armed bandits invaded Unguwar Tsamiya—popularly called Dabawa—in Shanono Local Government Area of Kano State, whisking away nine men and two women after shooting into the air and assaulting residents. The attackers also rustled two cows.A resident lamented the community’s helplessness: “We cannot do otherwise; most of us cannot leave because we have nowhere to go. This is our place, our land and everything is here.”The assault came less than 24 hours after a similar attack on Yan Kamaye in Tsanyawa LGA, a community along the volatile Katsina border.In Niger State, National Security Adviser Nuhu Ribadu has assured distraught families of St. Mary’s Co-Education School, Kontagora that the more than 300 students and staff abducted on November 21 will return home “soon.” Ribadu, who led a high-level federal delegation to the school on Monday, said the abductees are safe, though he offered no specifics on their location or the status of rescue operations.According to Daniel Atori, spokesman for the Catholic bishop overseeing the school, the NSA reassured officials: “The children are where they are and will come back safely.”The St. Mary’s attack is part of a worrying resurgence of mass kidnappings reminiscent of the 2014 Chibok schoolgirls’ abduction. Security analysts warn that banditry has evolved into a “structured, profit-seeking industry,” with hundreds of Nigerians abducted in November alone.The Kontagora school abduction occurred the same week 25 girls were kidnapped in Kebbi State—victims who authorities say have since been rescued through “non-kinetic” means. About 50 of the St. Mary’s hostages have also managed to escape.Ribadu’s delegation, which included the Minister of Humanitarian Affairs and the Director-General of the Department of State Services (DSS), reaffirmed the government’s commitment to securing the freedom of all abducted citizens.As communities from Kano to Niger continue to bear the brunt of these violent incursions, the escalating spate of kidnappings underscores the urgent national demand for a more decisive and coordinated security response.COVER
Abacha Loot Probe: Malami Faces EFCC Panel Daily in December
By David Torough, Abuja
The Economic and Financial Crimes Commission (EFCC) said former Attorney‑General of the Federation and Minister of Justice, Abubakar Malami, will face a team of interrogators at its office daily throughout December.
A credible source in the EFCC said on Monday that the daily appearance was part of an ongoing investigation into the whereabouts of an alleged 490 million dollars Abacha loot secured through a Mutual Legal Assistance (MLAT) request. The source said that Malami, who was summoned for interrogation by the EFCC on Saturday, was barred from leaving Nigeria for the next one month.According to the source, one of the conditions for his release on Saturday was that he should report daily to the EFCC Headquarters in Abuja for further interrogation.The source said Malami would have to appear daily at the anti-graft office due to the volume of the investigation and the seriousness of the charges against him.”We seized his passport, it is the normal routine during investigation, but he has to report at the EFCC headquarters in Abuja every day for the next month.”He will be reporting for further investigation throughout December.”He will be reporting every day, starting from Dec. 1st to Dec. 31st.He will appear before the team of investigators for the entire month of December.”He will be reporting to EFCC for investigation for the period because of the volume of the investigation and the seriousness of the charges against him,” the source added.According to the source, a fact sheet on the former minister revealed that Malami had several issues to clarify with the EFCC within the coming weeks.“We have asked him to explain the whereabouts of the $490 million Abacha loot secured through MLAT.“We didn’t say he stole money, but he should account for the loot. This is one of the issues he will clarify to our investigators.”The commission cited the large volume of documents he must review and the need for extensive interviews as reasons for seizing his passport.The source said EFCC would not engage in a war of words but would release its findings after a thorough investigation.Malami, in a statement by his media aide, Mohammed Doka, on Monday in Abuja, however, described the EFCC investigation as a political witch‑hunt.He confirmed he honored an EFCC invitation on Nov. 28, describing the engagement as fruitful and expressing confidence that the probe would vindicate him.Malami described the EFCC’s allegations as baseless, illogical and devoid of substance, insisting they collapse under factual scrutiny.

