EFCC: No Evidence of Chinese Financial Agencies in Mambilla Power MoU — Witness

The third prosecution witness, PW3, Umar Hussein Babangida, on Monday, January 19, 2026, told Justice Jude Onwuegbuzie of the Federal High Court, Abuja, that there is no record showing that China’s financial agencies were parties to the Memorandum of Understanding (MoU) for the Mambilla Power Project.

Babangida testified in the ongoing trial of a former Minister of Power and Steel, Olu Agunloye, who is facing an amended seven-count charge bordering on alleged official corruption and fraudulent award of the $6 billion Mambilla Power Project.

While being cross-examined by defence counsel, Adeola Adedipe, SAN, on Annexure 2 of Exhibit EFCC 3d, the witness stated that there was no record indicating that the Chinese Ministry of Foreign Trade and Economic Cooperation (MOFTEC) or the China Import-Export Bank were parties to the MoU.

He explained that the recommendations leading to the MoU included government participation of not more than 25 percent, a condition that was discussed at the Federal Executive Council (FEC) meeting of May 21, 2003.

According to him, Sunrise Power and Transmission Company Ltd proposed 35 percent government participation, while Tafag Nigeria Limited proposed 25 percent. He added that the then President directed that government participation should not exceed 25 percent for both companies, making it a key subject of deliberation at the FEC meeting.

Babangida further confirmed that when the MoU was presented to the FEC, members supported the memorandum, noting that N6 billion had already been allocated for the takeoff of the project at the time.

Reading from the then President’s comments on the MoU, he stated:

“Minister: approved. Please, give the two same parameters, i.e., Federal Government participation not more than 25 percent; tariff not higher than prevailing tariff of thermal plant.”

Justice Onwuegbuzie adjourned the matter to Wednesday, January 21, 2026, for continuation of cross-examination.