Tinubu Boasted That Magu Would Protect Him – Alpha Beta Ex-MD

A former Managing Director of Alpha Beta Consulting, Mr. Oladapo Apara, has sued the company, a former Governor of Lagos State, Bola Tinubu; and the current Managing Director of the firm, Akin Doherty; before a Lagos State High Court, Igbosere.

In the writ of summons marked LD/7330GCMW/2020, Apara asked the respondents to appear within 42 days or judgment may be given in their absence.

Apara had in a petition addressed to the Economic and Financial Crimes Commission, accused the company of N100bn fraud but two years after, the EFCC had yet to take action.

In his statement of claim, the former Alpha Beta boss said Tinubu boasted that the then acting Chairman of the EFCC, Mr Ibrahim Magu, would protect him.

He wrote, “The 2nd defendant (Bola Tinubu) also warned the claimant not to even think of exposing his involvement in the financial affairs of the 1st defendant (Alpha Beta) to the EFCC as the then acting Chairman of EFCC, Ibrahim Magu, will always protect him (Tinubu).”

Apara also narrated how Alpha Beta was formed in 2002 when Tinubu was still the governor.

The claimant said he was the one who came up with the idea of a consulting firm helping the state government to track and reconcile taxes.

Apara said Tinubu accepted the proposal but gave many conditions including that his own people would own 70 per cent stakes in the company.

The former Alpha Beta boss said Tinubu nominated Adegboyega Oyetola and one Olumide Ogunmola

He stated, “The claimant avers that following the presentation of his proposal to the Lagos State Government, the 2nd defendant (Tinubu) who was at the time the Governor of Lagos State demanded that 70 per cent equity interest in the project be assigned to a certain Olumide Ogunmola before the 2nd defendant will approve the project.

“The claimant avers that he then met the said Olumide Ogunmola (who he had never met before) and it was agreed that a limited liability company be incorporated in which the claimant will hold 30 per cent shares while Olumide Ogunmola and his partners will hold 70 per cent of the shares of the company.

“The claimant avers that following the agreement alluded to above; Alpha Beta Consulting Limited was incorporated in 2002 with the following shareholders: Dapo Apara (30 per cent), Olumide Ogunmola (40 per cent) and Adegboyega Oyetola (30 per cent).”

He said Tinubu later directed that Oyetola’s shares be transferred to one Tunde Badejo.

Apara stated that Tinubu controlled the company which was receiving 10 per cent of the tax collected on behalf of the state.

He said due to the technological innovation that was deployed by him, the Internally Generated Revenue of the state grew from N10bn per annum in 2002 to N300bn in 2019.

Punch