EXPOSED!!! How Bola Tinubu Is Using Alpha Beta To Pay His Son Seyi Millions—Aranda Overseas Corp, a company belonging to Seyi Tinubu, purchased a London mansion which the Nigerian government had tried to seize as property bought with the proceeds of crime, Bloomberg has reported.
Using Aranda Overseas Corp, a company Seyi is a major shareholder in, the property was acquired in 2017, and served as a resting home for Bola in August 2021.
While there, Tinubu hosted President Muhammadu Buhari, state governors and other dignitaries.
Earlier reports of the property’s purchase did not show any links to Seyi Tinubu (pictured with his father), but the latest reveal and the mention of Aranda Overseas Corp has drawn connecting dots to previous allegations.
ALPHABETA’S ₦500M PAYMENT TO STARCOMMS (ARANDA RESOURCES)
In 2020, Oladapo Apara, a former Managing Director of AlphaBeta Consulting, an information technology company, accused Tinubu of diverting over ₦22 billion to other companies.
AlphaBeta is a consulting firm handling the computation, tracking and reconciliation of Internally Generated Revenue (IGR) in Lagos State in return for a commission.
In writ of summons marked LD/7330GCMW/2020 deposed at a Lagos high court, Apara, who claimed to own 30 per cent stake in the company, alleged that the former governor reneged on certain agreements reached in the past about the management and control of the consulting firm.
In his statement of claim, Apara had said that during a review of the company’s account, he discovered that huge sums of money earned by the company over the years were not reflected in its account.
He also told a federal high court that Tinubu did not disclose his control of the company.
Some of the companies Apara accused Tinubu of making payments to include Vintage Press Ltd, publisher of The Nation Newspaper owned by Bola Tinubu, and Ocean and Oil Investments Ltd (Oando) owned by Olawale Tinubu, Bola’s nephew.
Another company mentioned by Apara as having received ₦500 million was Starcomms (Aranda Resources), with Bloomberg establishing its main shareholder as Tinubu’s son.
According to FIJ report, Aranda Resources is a subsidiary of Aranda Overseas Corp, the company that purchased the mansion in London in 2017.
Its Nigerian address is listed as 42, Norman Williams Street, Ikoyi, Lagos.
FIJ found that the address was used to register several other companies.
It remains unclear why AlphaBeta made payments to Aranda in Nigeria, according to Apara, but it would be at least the second known transaction with fraudulent links between father and son.
Tinubu eventually reached an out-of-court settlement with AphaBeta.
