Tinubu, Alpha-beta, Others Accused Of Fraud, Tax Evasion, Money Laundering Of Over N300billion (Read full details)


Former Lagos State Governor and leader of the All Progressives Congress, APC, Ahmed Bola Tinubu, connived with others and sets up a tax consulting firm called Alpha Beta Consulting LLP, and used same with his fronts to loot and launder over N300billion.

According to court documents filed by a former Managing Director of Alpha Beta, Dapo Apara, Tinubu gave the firm exclusive rights to collect taxes on behalf of the Lagos State and to receive a 10 percent commission from the revenue it collects for the state.

Alpha Beta, Bola Ahmed Tinubu, and Akin Doherty are 1st, 2nd, and 3rd defendants respectively in the suit.

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Cronies used by Tinubu according to the former Alpha Beta boss are Olumide Ogunmola and Tunde Badejo.

In a statement of claim filed at the Lagos State High Court, Apara, alleged that the company had become an avenue for official corruption of government officers, a conduit pipe for the massive money-laundering scheme, tax evasion, among other vices.

“The claimant avers that sometime in 2000, he solely conceived, prepared and presented a proposal to the Lagos State Government on providing consultancy services using his firm, Infiniti Systems Enterprises, (the claimant) with respect to using computerisation to track and reconcile the Internally Generated Revenue of the State.

“The claimant avers that following the presentation of his proposal to the Lagos State Government, the 2nd defendant (Bola Ahmed 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 he, 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.

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“The claimant avers that following the agreement alluded to above; Alpha Beta Consulting Limited was incorporated in 2002 with the following shareholding ratio: Dapo Apara – 30 percent, Olumide Ogunmola – 40 percent, Adegboyega Oyetola – 30 percent.

“The claimant avers that upon the commencement of business operations, the 2nd defendant (Bola Ahmed Tinubu) directed that the 30 percent shareholding of Adegboyega Oyetola be transferred to one Mr. Tunde Badejo. This was done.

“The claimant avers that after the incorporation of Alpha Beta Consulting Ltd in 2002 and structured according to the dictates of the 2nd defendant (Bola Ahmed Tinubu), the 2nd defendant in his official capacity as the governor of Lagos State then approved that Alpha Beta Consulting Ltd be awarded consultancy contract for the assessment and collection on behalf of the Lagos State Government all taxes and Internally Generated Revenue due and payable to the state at a 10 per cent consultancy fee (subject to a benchmark which varies from time to time).”



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