Bola Tinubu’s company accused of tax evasion, fraud, money laundering totalling N100 billion
By Chizitelu Munachimso
Alpha Beta, consultancy firm owned by Senator Bola Tinubu, a chieftain of the ruling All Progressives Congress(APC), and Governor of Lagos State from 1999-2007, is enmeshed in a N100 billion tax evasion, money laundering and fraud allegation.
The allegation is contained in a petition written to the Economic and Financial Crimes Commission (EFCC)by Dapo Apara, its Managing Director/Chief Executive Officer.
In the petition written on Apara’s behalf by his solicitors, Adetunji Adegboyega ESQ, he describes Alpha Beta as “an avenue for official corruption of government officials, a conduit pipe for massive money laundering scheme, tax evasion, among other vices”. The petition stated inter alia:
“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 con duct 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.
Apara said he was willing and able to provide information to substantiate his claims and pleaded that he be allowed to do so through his lawyers as “he is presently fearing for his life having been receiving death threats from a lot of quarters because of this case”.
Alpha Beta was engaged as tax consultants to the Lagos State Government in 2005 during the second term of Tinubu as Governor of the state and during 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 is allege to keep for itself, 10 percent of internally generated revenue of Lagos, estimated at N40 billion monthly in 2016.
