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LEAKED DOCUMENT REVEALED TINUBU’S SON CO-OWNED MULTI-BILLION DOLLAR COMPANY WITH A LEBANESE.

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Leaked corporate documents have unveiled that Seyi Tinubu, the son of President Bola Tinubu, co-owned an offshore company with Ronald Chagoury Jr., the son of billionaire tycoon Ronald Chagoury.

This company, incorporated eight years ago in the British Virgin Islands, has come under scrutiny following the awarding of a $13 billion contract to build a 700-kilometer Lagos-Calabar coastal highway to Hitech Construction Company Ltd., a subsidiary of the Chagoury Group,

The contract for the Lagos-Calabar Coastal Highway, a project of immense national significance, was awarded without a public bidding process, raising eyebrows and sparking allegations of favoritism and corruption.

The young Tinubu is also a director on the board of CDK Integrated Industries, another subsidiary of the Chagoury Group.

Critics argue that the longstanding business and personal relationships between the Tinubu and Chagoury families have unduly influenced the awarding of the contract.

Minister of Works David Umahi, however, has defended the process, stating that it followed due procedure and that the matter is currently before the courts.

The leaked documents, part of a larger investigation by the International Consortium of Investigative Journalists, reveal that Oluwaseyi Tinubu was a majority shareholder in the offshore company alongside Ronald Chagoury Jr.

The British Virgin Islands, known for its corporate anonymity, provided a veil of secrecy over their business dealings until now. The current ownership status of the company remains unclear, as neither party has responded to requests for comment.

In 2000, Gilbert Chagoury was convicted in Switzerland for laundering money on behalf of Nigeria’s former military dictator, Sani Abacha.

The relationship between the Tinubu and Chagoury families is not new. The Chagoury brothers, Ronald and Gilbert, have long been associated with President Bola Tinubu, with their business empire benefiting from various government contracts over the years.

While flagging off the controversial coastal highway in May, the president applauded” the Chagoury brothers “for being worthy stakeholders and for believing in the future of Nigeria.”

This latest revelation adds to a series of controversies surrounding Tinubu’s administration, which has been criticised for its handling of economic policies, including the removal of fuel subsidies and the rising cost of living.

Seyi Tinubu’s business ventures have consistently drawn attention, not only for their success but also for their timing and the networks they involve.

His advertising company, Loatsad Promomedia, has become a dominant player in Nigeria’s outdoor advertising industry, with allegations that its rise was facilitated by his father’s political clout.

In February 2021, The People Gazette published bank documents highlighting Seyi Tinubu’s exploits in Lagos’ advertising market, alongside his father’s ex-aide-turned-sports minister, Sunday Dare.

BusinessDay had earlier reported how tongues wagged on social media over Seyi Tinubu’s acquisition of a luxury timepiece, a Richard Mille RM 055 watch worth $550,000 or ₦825 million at ₦1,500 to a dollar.

Pictures from his social media handles showed that the young Tinubu owns not less than three Richard Mille wristwatches, amounting to billions of naira.

The watch was part of the custom series on sale in the name of professional golfer and Masters giant Bubba Watson.

Nigerian Afrobeat star, Damini Ebunoluwa Ogulu, popularly known as Burna Boy, said in his rap track ‘Big 7′ on his most recent eponymous album, “I really, really spent a milli’ on just two Richard Milles And I wear ’em willy-nilly through the city, ayy”

A Bloomberg investigation in May 2023 linked Seyi to the acquisition of a $10.8 million London property reportedly associated with fraud.

The property was purchased in 2017 through Aranda Overseas Corp., an offshore company where Seyi is listed as a principal shareholder.

It was reported that his father, Bola Tinubu, resided at the property during a medical visit to London in 2021.

The property had previously been seized by Nigeria’s Economic and Financial Crimes Commission (EFCC) in 2016. The seizure was part of an investigation into Kola Aluko, a close associate of former Petroleum Minister Diezani Alison-Madueke, who was implicated in large-scale corruption.

A few months ago, the president’s son was roundly criticised for flying a presidential jet to watch a polo match in Kano while many Nigerians struggled to feed.

In November 2023, the president stopped his son and others from attending the weekly meetings of the Federal Executive Council, the highest decision-making body of the government.

“Last week I noticed the undue access of people sneaking in and out of this council, including my son, Seyi, sitting behind the cubicle there. That is not acceptable,” the President declared.

In the context of the leaked documents, Seyi’s partnership with Chagoury in an offshore company appears particularly problematic. Offshore entities are often used to shield assets from taxes, legal scrutiny, and public accountability.

For the son of a sitting president to be involved in such dealings raises serious concerns about transparency and accountability, particularly in a country like Nigeria, where corruption and illicit financial flows are major issues.

In its latest Corruption Perception Index (CPI), the Transparency International, ranked Nigeria 145th out of 180 countries evaluated, underscoring the deep-rooted corruption in the most populous black nation.

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IMO STATE GOVERNMENT WARNS AGAINST ILLEGAL LAND TRANSACTIONS IN GOVERNMENT LAYOUTS

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Owerri, April 3, 2025 – The Government of Imo State has issued a stern warning to the general public against engaging in unauthorized land transactions within designated government layouts across the state.

In a public notice released by the Ministry of Lands, Survey and Physical Planning, the Honourable Commissioner, Barr. Enyinna Onuegbu, cautioned that all prospective land buyers must verify every land transaction through the ministry before proceeding, to avoid legal complications and financial loss.

The government expressed deep concern over the alarming increase in police cases and litigations linked to unverified land dealings, especially within key government layouts. The affected layouts include:

1. 3R Residential Layout, Off Onitsha Road

2. Housing Area TM, New Owerri

3. Housing Area TN, New Owerri

4. Unity Layout Extension, Uratta, Owerri North LGA

5. Ekwema (GRA) Residential Layout

6. Shared Prosperity Layout, Port Harcourt Road, New Owerri

7. Riverside Layout, Orji/Amata

8. New Community Layout, Okuku, Owerri West

The statement made it unequivocally clear that no official land allocation exercise has been conducted within any of the listed layouts since the inception of the administration of His Excellency, Distinguished Senator Hope Odidika Uzodimma.

“The public is hereby warned to desist from transacting on any purported land allocation in the said layouts,” the statement read. “The Government and the Ministry of Lands, Survey and Physical Planning shall not be held liable for any act of negligence resulting in loss, litigation, or any adverse consequences suffered by land speculators or buyers.”

The ministry reiterated that all land transactions must be duly verified at the Ministry of Lands, Block 7, State Secretariat Complex, Owerri, to ensure legality and avoid falling prey to fraudsters and illegal developers.

The warning comes as part of a broader effort by the state government to sanitize the land sector and protect residents from avoidable disputes and fraudulent practices.

 

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Datti advises Atiku to drop 2027 presidential bid

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The National Vice Chairman (North West) of the All Progressives Congress (APC), Garba Datti Muhammad has advised former Vice President Atiku Abubakar and former Kaduna Governor Nasir Ahmed El-Rufai to reconsider their political paths ahead of the 2027 general elections.

Datti, a former member of the House of Representatives, specifically urged Atiku to forgo another presidential bid, stating: “As we approach the next general elections, you are at it again. Having sensed that your party, the PDP, may not cede the presidential ticket to you, you are now considering joining forces with some aggrieved politicians to form a coalition to challenge President Bola Ahmed Tinubu come 2027.”

He further advised Atiku, saying, “In your best interest and the interest of Nigerians, it is better you drop the idea of contesting for president in 2027, by which time you would have already turned 80 years. The Wazirin Adamawa, you should rather remain the elder statesman that you currently are.”

Datti also urged Atiku to follow the example of another former Vice President, Arc. Muhammad Namadi Sambo, who has remained an elder statesman since leaving office in 2015.

He also cautioned Atiku not to be swayed by figures like El-Rufai, who Datti claims are attempting to lead him toward forming a coalition for the 2027 elections:

“In truth, even if you contest, you have nothing new to offer. Remember, you are also a proponent of subsidy removal. It is on record that, as Vice President, you spearheaded the privatization of some key national assets when you chaired the committee on privatization during the Obasanjo administration, while former governor El-rufai was the Director General of the Bureau for Public Privatization (BPP).”

Addressing El-Rufai, Datti expressed disappointment in his exit from the APC, despite being a founding member of the party:

“It is on record that you were part of the founding members of the APC. Having worked for the party tirelessly and served as governor under its platform for eight years, it is rather worrisome that you decided to leave APC at this critical point.”

Datti referenced El-Rufai’s past media statements, highlighting:

“While still serving as governor in 2022, during one of your media chats, you averred that ‘the moment I leave APC, then I have quit politics altogether.’ At this critical point, you should ponder and reconcile with the APC or quit politics altogether.”

He further criticized El-Rufai’s sudden turn into criticism, given that the former governor had previously stated his lack of interest in positions within the Tinubu administration:

“The world knows that it was you who announced that you were not interested in any position in the President Bola Ahmed Tinubu administration. Why should you turn to a critic overnight just because you perceived things were not going your way when you had unfettered access to the leadership of the party and the President?”

On broader political matters, Datti advised against political miscalculations, warning:

“I would like to tell you for free that no PDP governor will join the SDP because their party already has a structure on the ground. Who will leave certainty to uncertainty? You may end up committing a serious political miscalculation.”

Datti also stressed the importance of supporting the South’s eight-year tenure before considering a rotation of the presidency back to the North:

“One would expect that as a leading figure who supported the presidency to go to the South in 2023, you would support the zone to finish its eight years before canvassing for the rotation of the position to the North.”

He acknowledged the significant strides made in the North West under President Tinubu’s administration, noting:

“Currently in the North-West, we have the Speaker of the House of Representatives from Kaduna State and the Deputy President of the Senate from Kano State. It has never happened in the history of Nigeria where two Presiding Officers of the National Assembly came from the same zone.”

Datti also praised Tinubu’s efforts in reshaping the North West’s leadership:

“Additionally, the North West also got 12 ministerial appointments some of whom are manning critical ministries such as the two ministers of Defence; Budget and National Planning; Environment; two ministers of Housing; Culture and Creative Economy; Ministers of State for FCT, Education and Works etcetera. The zone also has the two Service Chiefs: the Chief of Defence Staff from Kaduna State, and the Chief of Air Staff from Kano State.”

Furthermore, Datti highlighted the improvements seen in Kaduna State, where:

“The Speaker, working in collaboration with Governor Uba Sani, has so far attracted about seven higher institutions to the state. The Speaker and Governor Uba Sani have also attracted the metro rail line (intra-city) worth about 250 billion Naira, already approved by President Bola Ahmed Tinubu, which will run from Rigachikun to Maraban Rido. This will ameliorate the transportation challenges residents of Kaduna metropolis face on a daily basis.”

He concluded by emphasizing the positive changes under the Tinubu administration, including improvements in the economy and prices:

“The Tinubu administration is also working assiduously to make life better for Nigerians following subsidy removal. Naira is now gaining strength by the day. Prices of foodstuffs are dropping drastically by the day. The economy is gradually taking a new turn.”

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BREAKING: INEC Gets ‘Acting Chairman’ Amid Mahmood Yakubu’s Alleged Sacking

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Mr Sam Olumekun.
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The Independent National Electoral Commission (INEC) has a new acting chairman in the person of Mr Sam Olumekun.

Olumekun, who is INEC’s National Commissioner and Chairman of the Information and Voter Education Committee, was referred to as acting INEC Chairman at a meeting he held with the Labour Party leadership on Wednesday.

Ekwutosblog understands that Professor Yakubu is currently in the Gambia to participate in the ECONEC (ECOWAS Network of Electoral Commissions) meeting.

Per constitutional provision, the tenure of an INEC chairman is five years and they have historically left at the end of their terms if not renewed.

Yakubu assumed the role on November 9, 2015. He became the first INEC chairman to be sworn in for second term after former President Muhammadu Buhari renewed his appointment in 2020.

Section 157 of the constitution stipulates that the president can only remove the INEC chairman with the support of two-thirds of the Senate.

Meanwhile, the new acting chairman, Olumekun, met with a delegation of the Labour Party, led by Abia State Governor Dr Alex Otti, who visited INEC headquarters in Abuja.

Days ago, reports claimed that President Bola Tinubu had sacked Yakubu as INEC chairman and replaced him with Professor Bashiru Olamilekan.

However, the presidency debunked the reports. The Senior Special Adviser to the President on Digital and New Media, O’tega Ogra, urged the public to disregard the reports as “fake news”.

Ogra noted that such an announcement would come through official channels such as the Office of the Secretary to the Government of the Federation.

Amid reports of his sacking, Professor Yakubu presided over INEC’s weekly meeting at the Commission’s headquarters in Abuja on Tuesday.

The meeting included several national commissioners, including Olumekun.

“Crucial decisions would be taken at the meeting,” INEC had said in a tweet.

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