Home National news Obasanjo declares Readiness To Testify On The Alleged $2.3bn Fraud

Obasanjo declares Readiness To Testify On The Alleged $2.3bn Fraud

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by Jane Osamor

Former president Olusegun Obasanjo has declared his readiness to testify for Nigeria concerning former Minister of Power and Steel, Olu Agunloye, in the $2.3 billion disputed Mambilla power contract.

Sunrise Power and Nigeria are at loggerheads at the International Chamber of Commerce, ICC, Paris, France, as the company alleges a breach of contract.

Sunrise Power said it was awarded a $6 billion contract to build, operate, and transfer in May 2003 by the government of former President Olusegun Obasanjo.

The company is alleging that the Federal Government of Nigeria repudiated the agreement and is asking for compensation of $2.3 billion.

The company is further claiming that it had already spent millions of dollars on financial and legal consultants before the contract was jettisoned.

However, in its defence, the Nigerian government is alleging fraud and corruption of public officials in the award of the contract.

In his letter to the Attorney General of the Federation and Minister of Justice Lateef Fagbemi, the counsel to the Nigerian government, the former President expressed his willingness to testify on behalf of the Nigerian government “in any form

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