IMPI Calls for Trial of Atiku Abubakar Over $500,000 Transfer

The Independent Media and Policy Initiative (IMPI) has urged the federal government to initiate proceedings against former Vice President Atiku Abubakar before the Code of Conduct Tribunal (CCT) for an undeclared $500,000 foreign transaction. This call follows a ruling from an International Chamber of Commerce (ICC) arbitration tribunal in Paris regarding the Mambilla Hydroelectric Power project.

The IMPI's analysis revealed that on 30th January 2003, a $500,000 transfer was made from an offshore company, China Castle Investments, owned by Leno Adesanya, into the US Citibank account of Atiku’s then-wife, Jennifer Douglas. This payment occurred just two weeks before Sunrise Power submitted its tender for the project.

IMPI's chairman, Dr Omoniyi Akinsiju, stated that if Atiku was the source of these funds or maintained undeclared foreign accounts, it would constitute a constitutional breach. The ICC tribunal rejected claims that the payment was a foreign-exchange swap, citing a lack of documentation and raising concerns about proxy bribery.