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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

Study Reveals Majority of IT Professionals Show Openness to Cyber Immunity

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The cybersecurity landscape is evolving rapidly, with organisations seeking more robust ways to protect their digital assets. A recent global study conducted by Kaspersky reveals a growing shift toward proactive security strategies, particularly the adoption of Secure by Design development and Cyber Immunity – an innovative approach that embeds resilience directly into system architecture.

The study highlights that 90% of cybersecurity professionals surveyed in the Middle East, Turkiye and Africa (META) region are familiar with Secure by Design development. This methodology integrates security into the very fabric of a system from its inception, rather than treating it as an afterthought.

Such an approach is already employed in high-stakes industries like aerospace, where security cannot be bolted on later – it must be intrinsic. Despite its advantages, however, adoption has been slow due to challenges related to standardisation and cost.

Cyber Immunity is the next frontier in cybersecurity

Building on Secure by Design principles, Cyber Immunity takes cybersecurity a step further by creating systems that inherently resist attacks without the need for constant patching or additional security layers. The study reveals that most experts are familiar with Cyber Immunity but interpret it differently.

When asked what they associate with the term, 64% of respondents in the META region linked it to Secure by Design systems that remain resilient under attack, while 56% viewed it as a combination of technology and policy measures that block cybercriminal access. Another 48% connected it to highly skilled cybersecurity teams, indicating that while awareness is high, a unified understanding is still developing.

The growing demand for proactive security

One of the most striking findings is the optimism surrounding inherently secure systems. Over half of respondents in the META region (63%) believe it is already possible or definitely achievable to design systems capable of withstanding cyberattacks without relying on additional security solutions.

Another 32% think it might be possible, reflecting openness to this idea despite some uncertainty. This shift in mindset aligns with a broader industry trend: traditional reactive security measures are no longer sufficient.

With AI-powered threats and increasingly sophisticated attacks, organisations need solutions that do more than just detect breaches—they must prevent them by design.

Integrating Cyber Immunity into security strategies

The study emphasises that resilience, expertise, and flexibility will define the next generation of cybersecurity. While Secure by Design provides the methodology, Cyber Immunity represents the ultimate goal—systems so robust that they minimise reliance on external defences.

“For companies looking ahead, Cyber Immunity offers more than just protection — it brings clear business benefits. When systems are built to be secure from the ground up, there’s less need for constant updates, patches, and extra security tools. That means fewer costs, less strain on IT teams, and stronger, more reliable protection over time,” said Dmitry Lukiyan, Head of KasperskyOS Business Unit.

Most importantly in today’s threat landscape, Cyber Immunity offers robust protection against next-generation challenges — including AI-driven attacks capable of outmaneuvering traditional security measures.

When security becomes an intrinsic property of system architecture rather than an external addition, businesses gain more than just protection—they secure a competitive market advantage.

This proactive approach future-proofs critical infrastructure, enabling organisations to operate confidently even as threats evolve. It transforms cybersecurity from a defensive necessity into a strategic differentiator that accelerates digital transformation while mitigating risk.

As the cybersecurity environment becomes more complex, Cyber Immunity is emerging as a vital strategy. Organisations that adopt it now will not only enhance their protection but also position themselves ahead of the curve in an increasingly volatile digital world.

 


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E-Business

Konga launches Jara sales with 25% discount on Starlink kits, free delivery

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Konga, Nigeria’s leading composite e-commerce platform, has launched its inaugural 2026 shopping campaign, Konga Jara, offering 25 per cent discount on Starlink internet kits alongside free nationwide delivery.

Konga launches Jara sales with 25% discount on Starlink kits, free delivery

Konga

The campaign, drawing from the Nigerian concept of “jara” — the extra value traders add to purchases — aims to deliver exceptional deals across categories, helping shoppers turn new year aspirations into reality through affordable technology and value-driven shopping.

To qualify for the Starlink discount, customers must purchase kits on Konga.com, activate them at starlink.com/activate, and email activation details to [email protected] for verification against Starlink’s records. Discounts are subject to terms and conditions.

Konga said spotlighting Starlink underscores reliable internet’s role in Nigeria’s digital economy, supporting work, learning, entrepreneurship and communication for households and businesses.

Mr Onochie Melvin, Head of Commercial Planning at Konga, said: “We listened carefully to what Nigerians said they needed to truly kickstart 2026 on the right footing. Reliable internet connectivity emerged as the foundation upon which other aspirations depend.”

He added: “Students need it for online learning, entrepreneurs need it to scale digital businesses, and professionals rely on it for remote work. This Starlink offer is not just about selling products; it is about removing barriers that prevent Nigerians from fully participating in the digital economy.”

Beyond connectivity, Konga Jara provides genuine products from original equipment manufacturers (OEMs) with transparent pricing, warranties and authenticity guarantees.

As a composite e-commerce ecosystem, Konga integrates shopping, payments and logistics for seamless nationwide access, with exclusive deals shared via its social media channels throughout the campaign.

Shoppers can explore offers at www.konga.com and follow Konga’s official pages for updates across the Konga Group.


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E-Business

Firm Identifies Global Scam Activity Linked to the Release of Avatar 3

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The premiere of Avatar 3 has taken place in several countries and has been accompanied by a noticeable increase in online interest. Amid the heightened attention surrounding the release, Kaspersky experts identified an increase in cyber-scam campaigns that exploit the movie’s launch and users’ desire to watch it online. The fraudulent websites target users across multiple regions, indicating attempts by attackers to reach a global audience.

The scam operates as follows: cybercriminals create suspicious websites that offer online access to the Avatar 3 movie. Attackers place particular emphasis on localisation, publishing the sites in multiple languages to attract users from different countries. However, the translations are often poorly executed and contain grammatical errors and inconsistencies, which may serve as indicators of fraudulent activity.

When users attempt to start the video, they are presented with a fake media player and prompted to register in order to obtain “full” or “unlimited” access to the film. As part of the registration process, users are asked to provide personal information, including an email address and mobile phone number.

At later stages, scammers may request additional data, including payment details, under the guise of activating a “free trial.” This creates risks of credential compromise, particularly if users reuse passwords across multiple services, and may also lead to financial losses.

“Cybercriminals consistently exploit major movie premieres to capture users’ attention and increase the effectiveness of their schemes. We advise accessing films only through official platforms and exercising caution when encountering websites that request personal or payment information. It is also important to use reliable security solutions to protect all devices, including mobiles,” comments Olga Altukhova, Senior web content analyst at Kaspersky.

 


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