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Ex-MD of Alpha-Beta Alleges Fraud, Tax Evasion as Court Summons Tinubu

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Oladapo Apara, former managing director of Alpha-Beta Consulting, has filed lawsuit alleging that the company has been diverting billions of naira from the coffers of the Lagos state government since 2002.

Ex-MD of Alpha-Beta Alleges Fraud, Tax Evasion as Court Summons Tinubu

Asiwaju Bola Ahmed Tinubu

This is coming as Bola Ahmed Tinubu, former governor of Lagos State, has been slammed with a law suit directing him to appear before the Lagos High Court within 42 days.

The writ of summons with no LD/7330GCMW/2020 deposed to at a Lagos high court on October 2, 2020 also alleged money laundering, tax evasion, forgery and a number of corporate fraudulent practices on the part of the company and its owners.

However, an official of Alpha-Beta who spoke with TheCable said the company was yet to be served the writ.

In a series of tweets in 2018, Apara had also alleged that Alpha-Beta had, using technology, generated N1.5 trillion from 2002-2018 for the state government.

He said the company earned 10 percent as commission and did not pay taxes.

In the writ of summons, Apara claimed that in 2000, he gave a proposal to Bola Tinubu, a national leader of the All Progressives Congress (APC) who was governor of Lagos from 1999 to 2007.

The idea was how to use better technology to track the state’s internally generated revenue (IGR).

Tinubu allegedly demanded that a 70 percent equity interest be assigned to Olumide Ogunmola and Adegboyega Oyetola, two people said to be his associates.

In the final sharing arrangement, Apara claimed Ogunmola was allotted 40 percent and Oyetola, who became governor of Osun state in 2018, was given 30 percent of the 70 percent allegedly demanded by Tinubu.

On the directive of Tinubu, Oyetola’s 30 percent, Apara further alleged, was transferred to one Tunde Badejo.

Following the agreement on all sides, Apara said he became a signatory to all the bank accounts, alongside the two shareholders whom Apara claimed were simply “holding trust for Tinubu”.

“After incorporation of Alpha-Beta Consulting Limited 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 (IGR) due and payable to the state at a 10% consultancy fee (subject to a benchmark which varies from time to time,” he said in court papers seen by TheCable.

APARA KICKED OUT

In 2010, three years after Tinubu had completed two terms as Lagos governor, Apara said the former governor directed that the incorporation structure of the company be changed from a limited liability company to a limited liability partnership under a newly promulgated Lagos law.

Tinubu, Apara said, had told him that the purpose of the change “was to further shield his (Tinubu) involvement in Alpha-Beta Consulting Ltd from public scrutiny”.

Subsequently, the limited liability partnership then took over the Lagos contract previously awarded to Alpha-Beta Consulting Limited.

Trouble began for Apara in 2014 when Tinubu allegedly directed that Ogunmola become the managing partner of the company and Apara as deputy managing partner.

The battle between Apara and Ogunmola went on till 2016 when Tinubu allegedly stopped Apara from reviewing the financial records of the company.

Tinubu then brought in Akin Doherty as managing director who took over and asked Apara to stay away from the company’s finances, Apare alleged.

Apara also alleged that Tinubu warned him not to think of exposing his involvement in the financial affairs of the company to the Economic and Financial Crimes Commission (EFCC) as Ibrahim Magu, the now suspended chairman of the anti-graft agency, “will always” protect him.

The accountant also accused Tinubu of threatening to use Lagos government agencies to harass and seize his assets.

‘ILLEGALLY OPERATING ALPHA-BETA BANK ACCOUNTS’

From 2018, Apara said, Tinubu, Badejo and Doherty colluded to operate Alpha-Beta bank accounts without his involvement as one of the signatories.

He said at one point, he suspected that his signature was forged to enable Tinubu and the others to operate the company’s accounts without him.

Despite the huge income made by Alpha-Beta since 2010, Apara claimed that to date, Badejo and Doherty, acting under Tinubu’s directive, “breached clause 8 of the partnership agreement and denied” him his share of the profit from the partnership as provided in the agreement.

He further averred: “Tunde Badejo, Michael Olumide Ogunmola and Akin Doherty have colluded and conspired to run the affairs of the business in a manner designed to bankrupt the 1st defendant through suspicious monetary transfers to third parties running into billions of naira contrary to the partnership agreement.

“The account review revealed large scale fraudulent transactions some of which are stated above and diversion of Alpha-Beta funds running into billions of naira by Tinubu.

“During the review of the account records of the company, huge sums of money that Alpha-Beta earned over the years was not reflected in the accounts of the company.”

Apara alleged that since 2014, the company has not kept proper financial records.

He said Badejo, when confronted, admitted that “the funds of the company have been mismanaged over the years including diversion funds for purported joint ventures purposes at the direction of and for the benefit of Tinubu”.

Apara, in the suit, among other prayers, asked the court to grant an order to trace all funds and assets due to him.

In a petition to the EFCC in 2018, Apara had accused Tinubu of using the company for money laundering and had diverted about N100 billion.

 

 


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E-Business

Paga Hits N14tri Transactions Value in 15 Years

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Paga, a payments and financial services provider for Africa has processed transactions value to the tune of N14trillion in the last 15 years of its existence.

Tayo Oviosu, chief executive officer, Pagatech, said at a media interaction to mark the company’s 15 anniversary that 80 percent of the amount was done in the last five years.

“When we celebrated 10 years of our business that was five years ago, we have grown our transactions values by 7 times, across the three business arms of our operation which includes; consumer payments, platform as-a-services and super App for retailers.

“This has translated into job creation as we have created over 1,000 direct jobs in Ethiopia and in Nigeria and indirect jobs through our agent network to about 100,000 jobs, this is economic empowerment of Nigerians.

“Our desire is giving people financial freedom and making life possible for them and impacting on our community. We are really proud of our economic achievements and we are making sure that our customers get the best experience.

“We are super excited about what the future holds for our business. Our vision is a world where cash does not exist anymore. We ensure that our customers’ money is safe by complying with the highest global security standards.

“Our focus is on helping both consumers and sellers pay, get paid, and access financial services. We do this directly; and through our Platform-as-a-Service, which enables other third parties to leverage the deep infrastructure we have built for endless possibilities.

Oviosu, further explained the three business lines Paga has transformed into from a mobile money operator from inception to a financial services provider includes; Consumer payment: where anyone can open a Paga account from any type of phone, by download Paga App from Apple or android store or dial *242# from any type of phone device.

“With Paga app, you can fund the account, make payments and also have a physical Visa card or a virtual Visa card on the account. This gives you significant convenience over other bank accounts we have in the market today.

You can send money into that account from any bank account or walk into any bank branch to fund the account. You can as well go to any agent and fund or make transactions from the account,” he said.

He added that when he started the business 15 years ago, there was no infrastructure, “we had to build the required infrastructure to support the business. Two years ago, we opened our infrastructure to allow other technology companies to use it for their own business. We called this Platform as a Service. With Platform as a service we are serving 150 businesses who are using our infrastructure to execute their own businesses.

“The third arm of our business is what we called Doroki this a different brand which is super App for retail business. If you are a supermarket you use it to manage your inventory among others. This is the youngest arm of our business” he noted.


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FG to Fnalise National Intellectual Property Policy  Soon– NCC Boss

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Dr John Asein, director-general, Nigerian Copyright Commission (NCC), has said that the federal government is taking steps to finalise its National Intellectual Property (IP) Policy and Strategy for the country.

FG to Fnalise National Intellectual Property Policy  Soon– NCC Boss

Asein disclosed this on Friday while commemorating the 2024 World Intellectual Property Day with the theme “IP and the SDGs: Building Our Common Future with Innovation and Creativity’’ in Abuja.

The that the Day is observed every April 26 to celebrate the importance of intellectual property (IP) rights to encourage innovation and creativity.

The director-general was represented by  Mr Emeka Ogbonna, director of Legal.

NCC boss said the policy would serve as a blueprint for a more efficient modern and responsive legal and administrative framework for the country to leverage on its creative and innovative potential.

He said that the day underscored the power of innovation and creativity in achieving the Sustainable Development Goals (SDGs) and shaping a sustainable and inclusive future for humanity.

According to him, the SDGs represent a universal call to action to end poverty, protect the planet, and ensure prosperity for all by the year 2030.

“IP rights play a pivotal role in fostering innovation, creativity, and technological advancements. They provide the framework that encourages men and women to develop new solutions that address global challenges.

“It is the lynchpin for incentivising the use of creative and innovative ideas to solve many of the challenges that confront humanity.

“This year’s World IP Day reminds us that intellectual property can be a powerful tool for social, economic, and environmental development.

“It encourages individuals, businesses, and governments to leverage IP rights to drive innovation, create jobs, and build resilient communities.

“By aligning our intellectual property policies and strategies with the objectives of the SDGs, we can accelerate their achievement,’’ NCC boss said.

He said in the spirit of the “Renewed Hope Agenda’’ of the present administration, government had also shown appreciable commitment to the creative industry as a major sector of the economy.

“As one of the agencies responsible for the wholesome development of the creative sector, the Nigerian Copyright Commission will continue to provide the needed institutional, legal and administrative support for the protection, promotion, regulation and enforcement of copyright.

“The commission will pay particular attention to using the copyright system to advance Goal 1 (No poverty); Goal 4 (Quality education); Goal 5 (Gender equality).

“And Goal 8 (Decent and economic growth); Goal 9 (Industry, innovation and infrastructure) and Goal 17 (Partnerships to achieve the goals).

“We are aware that the goals would have to be adapted to fit the peculiar needs of intellectual property which is an intangible asset.’ ’he added.

The director-general, who said that the commission focused on the 17 SDGs to address emerging challenges, called on authors, innovators, users, IP experts and other stakeholders to reflect on the vulnerability of the nation’s fragile knowledge and creative ecosystem.


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NITDA, ICF Train 100 Schoolgirls in ICT Skills

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The National Information Technology Development Agency (NITDA) and Illmi Children’s Fund (ICF) have trained 100 schoolgirls in digital and Information and Communication Technology skills training.

Mrs. Maryam Augie-Abdulmumin, ICF Executive Director, confirmed this in a statement on Thursday in Lagos.

The graduation followed the training of the schoolgirls in ICF and NITDA’s DIGITGALS 2.0 programme, a collaborative initiative aimed to equip adolescent girls in Abuja with critical digital and ICT skills.

Augie-Abdukmumin said the DIGITGALS 2.0 centred around essential digital literacy, programming fundamentals, digital marketing and communication skills, and cybersecurity awareness.

She added that the girls were equipped with the confidence to compete and excel in a globalised digital economy. The graduation was in commemoration of the 2024 International Girls in ICT Day celebration on April 25.

DIGITGALS 2.0 is in its second phase and empowered 100 senior secondary school girls selected from five government schools in the Federal Capital Territory.

The girls aged between 15 and 18 years were equipped with the knowledge and tools needed to thrive in the digital world and address the growing demand for ICT skills in the 21st century.

Augie-Abdulmumin reiterated the importance of bridging the digital gap in the country starting with the girl-child.

“This graduation ceremony on International Day of Girls in ICT is a powerful symbol of our commitment to closing the digital gender gap.

This programme made possible through our partnership with NITDA, and signifies a crucial step towards bridging the digital gender gap.

It also fostering a future where women are active leaders in the tech industry. This is also an opportunity for these girls to take charge of their own future,”.

Mr Kashifu  Abdullahi, the Director-General of NITDA, commended the collaborative efforts of ICF in making the DIGITGALS 2.0 a reality.

According to him, building a diverse and inclusive digital workforce is critical for Nigeria’s success.

“We are proud to collaborate with ICF on DIGITGALS 2.0 to empower these young women to become active participants in the tech industry. This programme showcases the importance of collaborative efforts in bridging the digital gender gap.

These girls have been equipped with essential digital skills, and ICF and NITDA are confident they will become active contributors to Nigeria’s thriving tech landscape,”.

ICF is a non-profit organisation dedicated to improving the lives of children, from underprivileged backgrounds, through education, healthcare, technology and entrepreneurship initiatives.

NITDA is a public service institution established in 2007. It functions as the ICT policy implementing arm of Nigeria’s Federal Ministry of Communication and Digital Economy.


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