Tinubu’s firm embroiled in a N100 billion money laundering and fraud case
A consultancy firm, Alpha Beta, owned by APC chieftain and former governor of Lagos, Bola Ahmed Tinubu is currently embroiled in a N100 billion Tax Evasion, Money Laundering, and Fraud case, according to a petition filed by one Dapo Apara, its Managing director/CEO.
According to Apara’s petition to the Economic and Financial Crimes Commission (EFCC), Alpha Beta “has become an avenue for official corruption of government officials, a conduit pipe for massive money laundering scheme, tax evasion, among other vices”.
PoliticsNGR learned that in the petition, sent on his behalf by Adetunji Adegboyega ESG, his solicitors, Apara said: “Over the years the company is being protected and shielded by some powerful politicians and people in the society which made them to always boast of being untouchable, but our client, feeling the need not to keep quiet again and strengthened by his belief in the fact that the government of President Muhammadu Buhari is keen on fighting corruption, which has been the bane of our country, is of the firm belief that it’s time to expose and open the can of worms called ALPHABETA CONSULTING.
“Our client is of the firm belief that it is time for the commission to step in and conduct a holistic investigation into the activities of ALPHABETA CONSULTING LIMITED AND ALPHABETA LLP, with a view to uncovering the massive corruption, money laundering, tax evasion etc going on in the company. Kindly note that one of the companies being used to perpetrate money laundering by the company is still another company named Ocean Trust Limited.
“The only hope of our client and indeed the teeming Nigerians who are victims of the crimes being perpetrated by these companies, in seeking justice is the commission, which we strongly believe in and therefore call on the commission to cause a holistic investigation into this case and all involved with the aim of bringing these criminals to justice, and not allow their claims of being untouchable to be validated.
“Kindly note sir that as our client is willing and able to provide information to substantiate the claims, though, we will plead for these to be done through us as he is presently fearing for his life having been receiving death threats from a lot of quarters because of this case.”
Alpha Beta first became known when it was appointed as a consultant to the Lagos State Government, arguably its first client, under the tenure of Babatunde Fowler as the Chief Executive Officer/Executive Chairman of the Lagos State Board of Internal Revenue from 2005 to 2014.
The company got the appointment when Bola Ahmed Tinubu was Governor of Lagos State. The speculation, which has yet to be dissipated since then, is that Tinubu completely owns or is a major shareholder in the company.
In the same vein, the state has also never denied claims that the company takes about 10 percent of internally generated revenue of Lagos, estimated in 2016 to be about N40 billion every month.