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HealthPlus Crisis: Mrs George Unfair to Me- Leo Stan Ekeh
Leo Stan Ekeh, founder of Zinox group and serial investor, has cleared the air on the controversy surrounding his role in the troubled HealthPlus, Nigerian healthcare firm.
Leo Stan Ekeh
In a detailed statement Monday and signed by Barrister Reginald Obiakor, senior special assistant (SSA) to Ekeh on Legal Affairs, he clarified the alleged involvement of the Zinox Chairman in the HealthPlus’ crisis with its investors, Alta Semper, a private equity firm.
Obiakor claimed specifically that Mrs. Bukky George, the embattled Founder and CEO of HealthPlus, had first reached out to Ekeh to mentor her on 31 March 2020 but that his only offence was advising her to settle her misunderstanding with her investors in order to save her business and to avoid damaging the growing investor confidence in Nigerian startups and nothing more.
“Mr. Ekeh feels extremely sad that he has to publicly explain his business relationship with Mrs. Bukky George, founder and CEO of HealthPlus and her investors – Alta Semper. She is a respectably married woman, a mother and a sound entrepreneur. But it is critical that we set the records straight for the benefit of posterity,” the statement reads in part.
“For the records, Mrs. George had first contacted Mr. Ekeh via a text message at 4.13am on the 31st of March 2020, introducing herself and requesting a time to call him. He replied her at 8:45am and asked her to call at 10am. She called and they spoke. She told him how she has followed his very successful digital entrepreneurial story for years and would like him to mentor her.
“She also requested that he assists her finance her importation of Personal Protective Equipment (PPE) with well over $1m and that she could share the profit with him 50/50. But Mr. Ekeh wanted to know a little more about her business before committing funds and she spent about 30 minutes, telling him her life history.
‘‘Impressed by her narration, he had told her she was a miracle child and that God has destined her for greatness. Indeed, Mr. Ekeh was excited to assist her make some funds available to support her business. The Zinox Chairman is well aware of the challenges faced by women entrepreneurs in Africa, how they are marginalized by the system. His mother, wife and two daughters are all entrepreneurs, though successful, but he feels their pain.
‘‘Mrs. George passed across her Chinese contact and Mr. Ekeh forwarded it to his consultant in China. The consultant came back a few hours later to inform that the company Mrs. George was looking to do business with was into agricultural trading and was not worth more than $250,000. Over the next two days, Mr. Ekeh had spent over three hours, speaking to various contacts in Nigeria and the US on her behalf. At the end, he had discovered no PPEs existed. It would have been a disaster. However, owing to the due diligence he carried out, Mrs. George did not lose any money and she thanked him for investigating it.
‘‘A few days later, Mrs. George requested a loan of N2 billion to support her business in meeting growing demands during the severe months of the COVID-19 pandemic and promised to pay back. She claimed God sent her to Mr. Ekeh after she failed to secure assistance from some well-known Nigerian Yoruba billionaires (whose names we have decided not to mention at this point). At this stage, he had asked for the configuration of her investors because you cannot extend a loan to a corporate body without a Board resolution. It was at this point that she mentioned her PE investors – Alta Semper and the issues she was having with them.
“The Executive Management of Alta Semper are well known to Mr. Ekeh because they wanted a partnership with Konga after the company announced the launch of Konga Health in June last year. They wanted to plug into Konga’s advanced technology infrastructure, regional warehouse network, digital logistics and CBN-licensed payment system.
“In fact, her investors are at home in Mr. Ekeh’s UK home and he was comfortable with the integrity and quality of the funders of Alta Semper; even as he noted that they had huge resources to fund HealthPlus without relying on bank loans. Consequently, Mr. Ekeh had told Mrs. George it would be difficult for him to extend or guarantee a facility to her, owing to the issues she was having with her investors as he needed to secure his investment. He assured her that her investors as majority shareholders have all resources she needed to turn around the company and he knew them very well but thought their investment was in MedPlus Ltd.
“Immediately after that call, Mr. Ekeh had put a call through to the CEO of Alta Semper to ask why they were not funding HealthPlus. The CEO had poured out their frustrations with Mrs. George, stating that even to secure a meeting, she wouldn’t pick or return their calls and expressed how disappointed they were at the development. She assured Mr. Ekeh that they were willing to invest more money in the business, only if Mrs. George would respect the terms of their engagement, and that they needed more comfort with respect to corporate governance issues, etc. Further, she pleaded with Mr. Ekeh to help intervene since Mrs. George seemed to be close to him and respects him a lot.
“After extracting this commitment from them and speaking with their big boss in Manhattan who is globally known, Mr. Ekeh had spent over a month unsuccessfully trying to convince Mrs. George on why she should find a middle ground with her investors in order to save her business as they were majority shareholders. He had also advised that the current impasse with them has the potential of damaging investor confidence in other Nigerian startups. However, Mrs. George had remained adamant and insisted that she was heading to court.
“Mr. Ekeh had reminded her that no sensible person who wanted her progress would advise her to fight with her majority investors at the peak of her fortunes. To further make her see reason, Mr. Ekeh had invited Mrs. George to his office in Victoria Island on August 26, 2020 after her family’s COVID-19 challenge. She arrived alone at 11:41am. It is important to state, at this juncture, that this was the first true physical meeting between Mr. Ekeh and Mrs. George. Again, his impression of her at this point was of a brilliant entrepreneur with a lot of positive energy.
“Mr. Ekeh had spent the next three hours, in the company of his wife, Mrs. Chioma Ekeh, pleading with Mrs. George to see reason not to embark on a messy suit with her investors and the need to find an amicable solution that works for both parties. Mr. Ekeh had specifically told her that entrepreneurs in Nigeria are disadvantaged and reeled out a lot of examples to back up his claims in the course of pleading with her.
Mr. Ekeh had told her that the consequences of a fight with her investors would have a number of detrimental effects on her business including potential withdrawal of suppliers, pressure from bankers to recover any existing facilities and stoppage of future loans as well as loss of trust from the global investor community on her brand and person.”
Furthermore, he had assured Mrs George that God, who had brought her thus far in business, would not desert her, urging her to apply common sense.
In the words of Mr. Ekeh: “I promised to help her to the best of my ability for her to succeed. I confided in her that Alta Semper had earlier shown an interest in investing in Konga and would like to take advantage of its huge resources to scale at a very low entry cost across Africa and that because of this, I had also considered investing a little sum in their African vehicle. Alta Semper has huge investments in Kenya, Morocco and Egypt and I had advised them to add Ghana because of my interest.
“As her mentor and as a mark of respect, I told Mrs. George that I had asked the management of Konga to suspend further discussions with Alta Semper until they resolved their differences with Mrs. George and HealthPlus. I even went as far as promising some incentives to HealthPlus, all in a bid to discourage her from fighting.’’
“Mr. Ekeh had ended the meeting by urging Mrs. George to see the huge opportunities for her, the business and her family. He had further asked her to pray over the matter and get back to him on her decision. Two days after, she had written Mr. Ekeh to state that she was going ahead with her course of action against her investors.
“Thereafter, Mr. Ekeh had acknowledged her response, even as he further implored her to reconsider her decision for the sake of her business. This was where Mr. Ekeh had left the subject until our attention was drawn to the initial allegations from Mrs. George that Mr. Ekeh was involved in a planned takeover of her business. We had first dismissed this, only to learn that she had written a private letter to former President Olusegun Obasanjo — a man who, as President, honoured Mr. Ekeh as an Icon of Hope and a pride to modern Nigeria on Nigeria’s Independence Anniversary on October, 1st, 2001— which she had proceeded to circulate to the press before the former President even saw the letter.
“It is also important to respond to the allegations that Mr. Ekeh had appointed a certain Chidi Okoro to take over HealthPlus. Mr. Okoro, whom Mrs. George refers to, is a first class business leader who is well known in the FMCG and Pharmaceutical sectors to Mr. Ekeh for years. He is a brilliant Nigerian who has managed successful multinationals across Africa.
“Mr. Ekeh had first referred Mr. Okoro to a global Health Foundation who were looking for a proven hand for a research consultancy in Africa. The Foundation was keen to appoint a Kenyan before they took Mr. Ekeh’s advice and appointed Mr. Okoro for the role. A month later, they had called Mr. Ekeh, expressing satisfaction with the choice of Mr. Okoro and effusively appreciating Mr. Ekeh for the referral.
“To set the records straight, Mr. Ekeh was not informed or consulted when Alta Semper engaged him on a six months’ consultancy to turn around HealthPlus. He had only heard of it from reports in the media, contrary to the claims by Mrs. George. Mr. Ekeh is certain Mr. Okoro, at his level, will not accept the CEO position of HealthPlus, after leading bigger multinationals.
“In closing, Mr. Ekeh feels highly embarrassed by some of the potentially libelous allegations made by Mrs. George and believes that she has been very unfair to someone who had only meant well for her. He expressly authorizes her to publish for public consumption all emails and WhatsApp communication they had both exchanged.
“Also, he pleads with friends and associates to allow Mrs. George the respect and privacy she deserves as he has learned another lesson in his entrepreneurship pursuit. He also advises startups or those looking for investors to respect agreements entered into for global investors to have faith in the Nigerian economy.’’
Socio-Economic Rights and Accountability Project (SERAP) has given Godswill Akpabio, Senate President, and Tajudeen Abbas, speaker of the House of Representatives, seven days to explain how over N1.3 billion was allocated in the 2026 Appropriation Act to a presidential council that the Presidency has described as fictitious.
In a Freedom of Information (FoI) request dated July 4, 2026, SERAP asked the National Assembly leadership to release certified copies of all documents related to the approval of the N1,302,978,784 allocation to the Presidential Foreign Intervention Promotion Council (PFIPC)/Presidential Economic Advisory Council.
The rights group also called on the National Assembly to invoke its investigative powers under Sections 88 and 89 of the 1999 Constitution to probe the circumstances surrounding the allocation and identify those responsible for what it described as apparent irregularities in the budget process.
SERAP further requested records identifying the lawmakers and committees that considered the allocation, as well as the public officials or representatives who defended the budget proposal before the committees.
The civil organisation also sought clarification on whether the allocation originated from the Executive’s 2026 Appropriation Bill or was introduced during the legislative appropriation process.
It equally demanded to know whether any lawmaker questioned the legal status or operational mandate of the council before approving the allocation.
The FoI request follows a July 1 statement by the Presidency denying the existence of the Presidential Foreign Intervention Promotion Council and insisting that the Federal Government never created the body.
Describing the conflicting claims as alarming, SERAP said they raised “serious concerns regarding the integrity of Nigeria’s appropriations process, legislative oversight, public financial management, and accountability.”
The FoI request, signed by Kolawole Oluwadare, deputy director, SERAP, stressed that Nigerians have a constitutional right to know whether public funds were appropriated to an entity that does not legally exist.
SERAP said, “Nobody has a more sacred obligation to obey the law than those who make the law, and that the National Assembly has a constitutional responsibility not merely to approve the Executive’s budget proposals but to rigorously scrutinise them before authorising public expenditure.”
The organisation argued that disclosure of the requested documents would enable Nigerians to determine whether the National Assembly fulfilled its constitutional obligations under Sections 80, 81, 88, and 89 of the Constitution in approving the allocation.
SERAP warned that if the requested information is not released within seven days of receipt or publication of the letter, it would initiate legal proceedings to compel the National Assembly to disclose the documents.
The organisation further maintained that making the records public would strengthen confidence in the National Assembly’s credibility, enhance transparency in the appropriation process, and promote accountability in the management of public funds.
It also cited the Freedom of Information Act, the Nigerian Constitution, the African Charter on Human and Peoples’ Rights, the International Covenant on Civil and Political Rights, and the Tshwane Principles as legal bases for its demand for full disclosure.
World Bank has said Nigeria’s greatest fiscal challenge is weak revenue mobilisation rather than excessive borrowing, urging the Federal Government to strengthen revenue generation to support sustainable economic growth and meet its debt obligations.
The World Bank Country Director for Nigeria, Mr. Mathew Verghis, stated this during an interview on Channels Television on Friday.
According to him, Nigeria’s debt profile remains moderate by international standards and does not place the country among nations experiencing debt distress.
“From our assessment, Nigeria doesn’t have a high indebtedness problem; it has a low revenue problem,” Verghis said.
He explained that Nigeria’s debt-to-Gross Domestic Product (GDP) ratio is lower than that of many comparable economies, adding that the country’s fiscal challenge lies more in its limited revenue base than in the volume of its borrowing.
“When we looked at the numbers, Nigeria is a moderately indebted country, meaning it has less debt relative to its economy than most of its neighbours and many other countries.
“Nigeria is in a very different situation from Ghana, for example, which is going through a debt restructuring,” he said.
Verghis defended government borrowing, describing it as a legitimate tool for financing long-term investments capable of stimulating economic growth and improving citizens’ welfare.
“Nigeria borrows for the same reasons that all countries borrow. If you want to deliver results to people, the money available on an annual basis is not enough.
“So you borrow, deliver results, and that improves your ability to repay,” he said.
He cited electricity infrastructure as an example, noting that expanding access to power for millions of Nigerians would require substantial upfront financing.
“To be able to connect and provide energy to 32 million Nigerians, Nigeria needs to borrow money now.
“But with increased access to energy, the country will become wealthier and better positioned to repay the loans,” he added.
The World Bank official, however, warned that Nigeria’s low revenue generation poses a greater risk to fiscal sustainability than its current debt burden.
“Nigeria’s debt is not particularly high, and in fact, it is quite moderate by international standards.
“Its revenues are very low by international standards, and unless those revenues are raised, it will not be able to pay back debt,” he said.
Verghis said improving revenue mobilisation would enable the government to invest more in critical sectors such as infrastructure, healthcare, education and agriculture, while supporting job creation, strengthening human capital development and reducing poverty.
He noted that the World Bank’s recently unveiled Country Partnership Framework for Nigeria for 2026 to 2032 places job creation at the centre of its support for the country.
According to him, the framework will focus on investments in infrastructure, healthcare, agriculture and digital connectivity to promote inclusive and sustainable economic growth.
Ola Olukoyede, chairman of the Economic and Financial Crimes Commission (EFCC), has disclosed that the commission recovered more than N7.2 million stolen from the bank account of a serving judge by suspected internet fraudsters in a midnight cyberattack.
Ola Olukoyede, Chairman of the Economic and Financial Crimes Commission (EFCC).
Olukoyede made the disclosure at the public presentation of two books authored by retired High Court judge, Justice Alaba Omolaye-Ajileye.
He said the serving judge, who is from a South-South state, contacted him around 1:00 a.m. after receiving multiple debit alerts indicating that funds had been withdrawn from her account.
According to him, the stolen money represented savings the judge had accumulated over six years to finance her child’s education.
Olukoyede said the EFCC immediately swung into action and successfully recovered the entire sum before 6:00 p.m. on the same day.
He said the incident underscored the increasing sophistication of cybercriminals and the urgent need for stronger collaboration among law enforcement agencies, the judiciary and members of the public in tackling financial crimes.
The EFCC chairman also called for amendments to Nigeria’s legal framework to accommodate the use of artificial intelligence (AI) in criminal investigations and prosecutions.
According to him, existing evidence laws should be reviewed to recognise AI-generated evidence as technology continues to reshape crime detection and investigation.
Also speaking at the event, former Attorney-General of the Federation and Minister of Justice, Chief Kanu Agabi (SAN), urged anti-corruption agencies to intensify efforts to trace and recover public funds allegedly stolen and stashed in foreign countries.
Agabi stressed the need for sustained collaboration among relevant institutions to strengthen Nigeria’s anti-corruption efforts and improve accountability in public service.
In his remarks, a former President of the Nigerian Bar Association (NBA), Chief Wole Olanipekun (SAN), called for stricter enforcement of the country’s cybercrime laws to curb the growing menace of internet fraud.
Olanipekun said effective implementation of existing laws, alongside stronger institutional cooperation, would help address the increasing threat posed by cybercriminals to individuals and the nation’s financial system.
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