Eniola Akinkuotu and Ramon Oladimeji

A former Managing Director of Alpha Beta Consulting, Mr Oladapo Apara, has sued the corporate, a former governor of Lagos State, Bola Tinubu; and the present Managing Director of the agency, Akin Doherty; earlier than a Lagos State Excessive Court docket, Igbosere.

Within the writ of summons marked LD/7330GCMW/2020, Apara requested the respondents to look inside 42 days or judgment is perhaps given of their absence.

Apara had in a petition addressed to the Financial and Monetary Crimes Fee, accused the corporate of N100bn fraud however two years after, the EFCC had but to take motion.

In his assertion of declare, the previous Alpha Beta boss stated Tinubu boasted that the then performing chairman of the EFCC, Mr Ibrahim Magu, would shield him.

He wrote, “The 2nd defendant (Bola Tinubu) additionally warned the claimant to not even consider exposing his involvement within the monetary affairs of the first defendant (Alpha Beta) to the EFCC because the then performing chairman of EFCC, Ibrahim Magu, will at all times shield him (Tinubu).”

Apara additionally narrated how Alpha Beta was shaped in 2002 when Tinubu was nonetheless the governor.

The claimant stated he was the one who got here up with the concept of a consulting agency serving to the state authorities to trace and reconcile taxes.

Apara stated Tinubu accepted the proposal however gave many circumstances together with that his personal folks would personal 70 per cent stakes within the firm.

He said, “The claimant avers that following the presentation of his proposal to the Lagos State Authorities, the 2nd defendant (Tinubu), who was on the time the governor of Lagos State, demanded that 70 per cent fairness curiosity within the undertaking be assigned to a sure Olumide Ogunmola earlier than the 2nd defendant will approve the undertaking.

“The claimant avers that he then met the stated Olumide Ogunmola (who he had by no means met earlier than) and it was agreed {that a} restricted legal responsibility firm be integrated through which the claimant will maintain 30 per cent shares whereas Olumide Ogunmola and his companions will maintain 70 per cent of the shares of the corporate.

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

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

Apara said that Tinubu managed the corporate which was receiving 10 per cent of tax collected on behalf of the state.

He stated as a result of technological innovation that was deployed by him, the Internally Generated Income of the state grew from N10bn each year in 2002 to N300bn in 2019.

The claimant said that in 2010 or thereabout, Tinubu directed that the incorporation construction of the Alpha-Beta Consulting Restricted be modified from a restricted legal responsibility firm to a restricted legal responsibility partnership beneath a newly promulgated regulation in Lagos State.

He stated the intention of the transfer was to protect Tinubu’s involvement from public scrutiny.

He stated Olumide Ogunmola was named the managing associate of the newly remodeled firm, whereas Apara turned deputy managing associate.

The claimant stated in 2014, Tinubu requested Ogunmola to step apart whereas he was named managing associate.

Apara stated as the pinnacle of the corporate, he started trying into its funds and he made many startling discoveries similar to mysterious transfers of over N20bn to numerous firms.

The previous Alpha Beta boss stated he realised that every one the funds have been sanctioned by the companions nominated by Tinubu and so they have been accomplished with out his data opposite to the phrases of their partnership.

He said, “N550m fee to Ocean Belief Ltd vide fee instruction dated the 15/5/18 (h) N850m fee to Ocean Belief Ltd vide fee instruction dated the 14/3/15.”

The claimant stated N960m was spent on buying HITV’s 300,000,000 shares.

Apara said that Tinubu was livid that he was trying into the corporate’s funds and ordered that he be demoted to deputy managing associate.

He stated he refused to obey this order and this led to a feud between the each of them.

The previous Alpha Beta boss stated he was forcefully faraway from workplace, whereas Tinubu’s former commissioner for Finance, Doherty, was named the brand new head of the corporate.

He stated since his unlawful removing, he had been denied of his dividends as a founding associate of the corporate and requested the court docket to order full fee of his entitlements.

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