Tinubu,Alpha- Beta,Summoned to Court for Fraud

Mr Oladapo Apara, a former Managing Director of Alpha Beta Consulting has sued the company, Akin Doherty, the current Managing Director of the company, as well as the Alhaji Bola Ahmed Tinubu, the former Governor of Lagos State at the Lagos State High Court, Igbosere for 100bn Fraud, amongst other matters.

In a Writ of Summons marked LD/7330GCMW/2020, Apara had through his lawyers summoned the respondents before the courts within 42 days else judgement will be delivered in their absence.

Apara had petitioned the Economic and Financial Crimes Commission, EFCC, when he accused the company of N100bn fraud, but the EFCC stalled on taking action. According to the writ of summons, he had to reassert the case when Former Governor Tinubu called his bluff that EFCC could not arrest him because of his connections with Mr. Ibrahim Magu, the now embattled EFCC chairperson.

Apara was one of the lead tax accountants of Alpha Beta at its inception. He rose to the position of the Managing Partner of Alpha Beta in 2014 and was allegedly removed from the office and the board of shareholders by the unilateral influence of Tinubu. He was demoted and later removed by Tinubu, for studying and questioning the details of reported illegal transfers inclusive of the unilateral decision and illegal purchase of HITV shares.

He had noted that the Alpha Beta was formed by Tinubu. Alpha Beta has since become one of the firms helping the state to track and reconcile taxes. The Source noted that Alpha Beta led the improvement of the State’s IGR from N10BN in 2002 to about N300BN in 2019. However, Apara had exposed that the internal workings of the tax firm did not give room for accountability and transparency in the management of the Lagos Taxes received over the years. Apara had played a pivotal role from inception, during his appointment as Managing Partner in 2014 by Tinubu, until late 2017 where he was abruptly removed from office for reportedly asserting transparency in the tax firm. He was also a shareholder of the firm but has since been denied payment of shares accrued to him since his removal of Alpha Beta as Managing Partner.

Apara allegedly discovered illegal transfers and payments made by shareholders loyal to Tinubu against the guidelines of incorporation. He also noticed that the former governor was fully aware of those illegal transfers. A source noted that on inquiry and criticism of those transfers, a rift between himself, Bola Tinubu, and other shareholders loyal to the former governor occurred. He was forcefully removed from office and replaced by Mr. Doherty, a former Commissioner of Finance.

Apara accused the former Governor Tinubu of using his office to help set up Alpha Beta and pitch his friends and comrades as shareholders. He also said the former governor had full control of the affairs of the tax firm. He noted that the Tinubu directed the changes made in the incorporation structure of Alpha Beta from a Limited Liability Company to a Limited Liability Partnership.

The Writ stated that ‘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 Statedemanded 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, (the Present Governor of Osun State) (30 per cent).’He also revealed that the shares of Mr Oyetola were later transferred to one Tunde Badejo.’