Tinubu sued over alleged contract breach, fraud


Former governor of Lagos State, Bola Tinubu, is in the eye of the storm as ex-Managing Director of Alpha Beta Consulting, Mr Oladapo Apara, sued him and the over alleged contract breach, fraud and money laundering malfeasance.

Apara had two years ago complained about Tinubu and Alpha Beta to the Economic and Financial Crimes Commission, EFCC, via a petition alleging the strongman of the All Progressives Congress, APC, of N100bn fraud and money laundering but the anti-graft failed to follow up on the complaints.

This time, he dragged the former governor, Alpha Beta and the current Managing Director of the firm, Akin Doherty before a Lagos State High Court, Igbosere.

In the suit, Apara accused Tinubu of cheating him out of the Alpha Beta and boasting he was untouchable and nothing EFCC under Ibrahim Magu would do to him.

It reads in part,  “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).

“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 the aim of the move was to shield Tinubu’s involvement from public scrutiny, adding that Olumide Ogunmola was named the managing partner of the newly transformed company, while he became deputy managing partner.

The claimant said in 2014, Tinubu asked Ogunmola to step aside while he was named managing partner.

Apara said as the head of the company, he began looking into its finances and he made many startling discoveries such as mysterious transfers of over N20bn to various companies.

The former Alpha Beta boss said he realised that all the payments were sanctioned by the partners nominated by Tinubu and they were done without his knowledge contrary to the terms of their partnership.

He stated, “N550m payment to Ocean Trust Ltd vide payment instruction dated the 15/5/18 (h) N850m payment to Ocean Trust Ltd vide payment instruction dated the 14/3/15.”

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