Mambila power project: Nigeria wins case against Sunrise Power
The International Chamber of Commerce in Paris has ruled in favor of Nigeria regarding the $2.35 billion arbitration claim brought by Sunrise Power and Transmission Company over the Mambilla hydropower project.
Sunrise Power sought a multi-billion-dollar award over the stalled $6 billion Mambilla hydroelectric power project.
The International Chamber of Commerce today dismissed the $2.35 billion claim, handing a major legal victory to the Nigerian government.
Leno Adesanya, the promoter of Sunrise Power, has faced separate legal challenges and was declared wanted by the Economic and Financial Crimes Commission (EFCC) over alleged corruption and bribery tied to the contract award.
More to follow…
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