Lagos high court summons Ex-Governor Bola Tinubu to appear within 42 days over Alpha Beta
A former Managing Director of Alpha Beta Consulting, Mr. Oladapo Apara, has dragged the company;
the National Leader of All Progressives Congress (APC), Senator Bola Tinubu;
and the current Managing Director of the firm,
Mr. Akin Doherty, before a Lagos State High Court in Igbosere.
Lagos high court summons Ex-Governor Bola Tinubu
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 (EFCC),
accused the company of N100 billion 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 suspended acting
Chairman of the EFCC, Mr. Ibrahim Magu, would protect him.
“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.
He said he was the one who came up with the idea of a consulting firm helping the state government to track and reconcile taxes.
The claimant said Tinubu accepted the proposal but gave many conditions, including that his own people would own 70 percent stakes in the company.
He added that Tinubu nominated Adegboyega Oyetola and one Olumide Ogunmola
The former Alpha Beta boss 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 percent 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 percent
shares while Olumide Ogunmola and his partners will hold 70 percent 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 percent), Olumide Ogunmola
(40 percent) and Adegboyega Oyetola (30 percent).”
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 percent 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 N10billion per annum in 2002 to N300billion in 2019.
The claimant stated that in 2010 or thereabout, Tinubu directed that the incorporation structure of the
Alpha-Beta Consulting Limited be changed from a limited liability company to a limited liability partnership
under a newly promulgated law in Lagos State.
He said the move aimed to shield Tinubu’s involvement from public scrutiny.
Olumide Ogunmola was named the managing partner of the newly transformed company while Apara 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 N20billion in different currencies to several companies.
The former Alpha Beta boss said he realized 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, “N550million payment to Ocean Trust Ltd vide payment instruction dated the 15/5/18 (h)
N850million payment to Ocean Trust Ltd vide payment instruction dated the 14/3/15; (i) N1 billion in Afkar printing Press
together with Vintage Press Limited and Lagoon Press Limited in October 2017.”
He said N960 million was spent on purchasing HITV’s 300,000,000 shares.