Partner Sues Tinubu For Breach Of Agreement On Lagos IGR, Alleges Diversion Of Funds

A Chartered Accountant, Oladapo Apara has sued the former Governor of Lagos, Bola Tinubu at a High Court in Lagos, over allegations bordering on fraud weaved around the state’s Internally Generated Revenue as well as breach of partnership agreement.

The Defendants in the suit seen by THE WHISTLER, were: Alpha Beta Consulting(1st Defendant), Senator Bola Ahmed Tinubu (2nd Defendant) and former state government official Akin Doherty( 3rd Defendant).

The Claimant, through his counsel, Tade Ipadeola Esq, argued that Alpha Beta was registered as a Limited Liability Partnership in 2010 whose ” main business is and has been the computation , tracking and reconciliation of Internally Generated Revenue in Lagos State in return for commission.”

According to Apara, the ownership of the consulting firm as well as the percentage of the capital contributed by the partners was as follows: Dayo Apara(Infiniti Systems Enterprise) 30%, Michael Olumide Ogunmola(Momo Consulting) 40%, Tunde Badejo(Ebo Consulting) 15% and Tunde Badejo (Intergrev Services) 15%.

But, the claimant alleged that despite the fact that he conceived the idea, Tinubu later took over the affairs of the Alpha Beta.

“The Claimant avers that from the inception of the 1st Defendant , the 2nd Defendant has been in control of the affairs of the 1st Defendant and that from the year 2018, AKIN DOHERTY , the 3rd Defendant and SENATOR BOLA AHMED TINUBU, the 2nd Defendant have assumed firm control of the financial management of the firm to the exclusion of the Claimant.

“The Claimant avers that sometime in 2010, he solely conceived, prepared and presented proposal to the Lagos State Government on providing Consultancy services using his firm, Infiniti Systems Enterprises, (the Claimant) with respect to using computerisation to track and reconcile the Internally Generated Revenue of the state (IGR).”

He also alleged that Tinubu brushed aside the earlier agreement and asked for 70 percent equity interest as a condition for approving the project.

“The Claimant avers that he then met with 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% shares while Olumide Ogunmola and his partners will hold 70% 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 shareholding ratio: Dapo Apara(30%), Olumide Ogunmola (40%) and Adegboyega Oyetola (30%),” the suit read.

Apara also alleged that Tinubu later directed that Oyetola’s share be transferred to one Tunde Badejo.

According to Apara, the 3rd Defendant was foisted on Alpha Beta as its Managing Director/Managing Partner “contrary to the Partnership Agreement.”

The Claimant alleged that Alpha Beta made billions from consulting for the state but added that it was channeled to Tinubu.

His Particulars of Fraud partly reads:

“The Claimant avers that Mr. Tunde Badejo’s admission that the diversion of the 1st Defendant’s funds over the years running into billions of naira into suspicious accounts was done in a smart way to shield the 2nd Defendant.

“The Claimant avers that the fraudulent diversion of the 1st Defendant funds to the benefit of the 2nd Defendant, the purported repayment of huge sums as bank loans to banks which could not be traced to the books of the 1st Defendant and the fraudulent complex nature of these transactions necessitated the poor account record keeping and in some cases, the non existence of some accounts.

“The Claimant avers that the 1st Defendant LLP in which he holds 30% of the capital was being used for massive corruption purposes including tax evasion, bribery of government officials , diversion of the funds of the 1st Defendant and money laundering by the 2nd , 3rd Defendants.”

As such, he prayed the court for the following orders,among others:

“An order of specific performance of clauses 8 and 11.0 of the partnership Agreement that created the 1st Defendant by extant partners.

“An order for payment to the Claimant by the Defendants, all sums adjudged to be due to the Claimant on the submission of the accounts.”