How And Why Sunrise Lost $2.35bn Claim Against Nigeria
By Garba Shehu There are good reasons why Leno Adesanya and his company, Sunrise Power Transition Company, lost their case at the International Chamber of Commerce, ICC, an outcome that
The International Chamber of Commerce (ICC) dismissed a $2.35 billion claim by Sunrise Power Transition Company against Nigeria over the Mambila Hydro Electric Power Project and rejected a $400 million settlement demand. The ruling ordered the company and its owner, Leno Adesanya, to repay Nigeria approximately $11.82 million in legal and other expenses.
The hearing, held on January 15, 2025, showcased the corruption, falsehoods, deceit, and lies associated with Sunrise and its owners. The case highlighted their reliance on international arbitration to steal billions from Nigeria. Previous Presidents, Olusegun Obasanjo and Muhammadu Buhari, and other key witnesses supported Nigeria's defense against the fraud.
The Mambila Project, valued at $6 billion, was eventually awarded to two Chinese companies, CGGC and CGC, following a new tender process. The project faced delays due to Sunrise's legal actions, which hindered its progress and caused ChinaExim bank to withhold funds. Nigeria entered settlement discussions with Sunrise, CGGC, and CGC to move the project forward, but Sunrise's involvement remained contentious throughout the process.
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