Tinubu explains his source of wealth without naming firms or properties owned
By Jeph Ajobaju, Chief Copy Editor
*******************************
“Who owns Alpha Beta Consulting that is still collecting the internally generated revenue of Lagos on behalf of the state and what percentage of it is Tinubu taking now – is it 15 per cent or 10 per cent?
“Lagos generates N60 billion every 30 days and Alpha Beta collects the money on behalf of the state and 15 per cent of that is N9 billion, which one individual takes on a monthly basis ….
“When he said that he increased the state IGR from N600 million to N20 billion monthly, was that a guaranty that he will now start taking a portion of that? Who registered Alpha Beta Consulting? His Attorney General. Who was the Attorney General? Is it not this man, Yemi Osinbajo, the Vice President?” – Bode George.
*******************************
Bola Tinubu, All Progressive Congress (APC) presidential candidate, has admitted to being wealthy from inherited real estate he turned around, without naming firms and properties he owns, in response to allegations of corruption levelled against him.
He did not mention Alpha Beta Consulting, a tax consultancy Bode George said he owns and through which he gets a cut of N9 billion every month from the Lagos State government.
George is former Peoples Democratic Party (PDP) Deputy National Chairman (South West).
Tinubu reacted to some of the other allegations in general terms in an interview with BBC Africa which was broadcast after his presentation at the Chatham House in London on Monday, per reporting by Nairametrics.
He insisted those critical of his source of wealth are envious of his achievements, claiming he has not taken government appointment or contract since he left office as Lagos Governor in 2007, a post he occupied for eight years beginning from 1999.
When asked if Nigerians have the right to know the source of wealth of their next President, Tinubu said:
“Are they enemies of wealth? If they are not enemies of wealth, investments do yield.
“I have an example of Warren Buffet. One of the richest in America and in the world. He started from stock buying and brokerages.
“I inherited great real estates. I turned the values around. I’m not denying my wealth. I’ve not been … I was the most investigated, the most accused Governor in opposition up to, you know, for eight years and up to 2007.
“And since I left the office, I’m still there, I’ve not taken any government appointment, no government contract.”
When asked about his alleged share from Lagos tax revenue, Tinubu said:
“Hey, excuse me, share, what? Have they proven it? The World Bank, (and) the International Monetary Fund have investigated the records in Lagos State. What’s wrong with them? It’s envy, envy, envy.”
_____________________________________________________________
Related articles:
My critics are envious, have no proof I take money from Lagos revenue — Tinubu
Tinubu’s London ‘show of shame’ reaffirms he’s not fit, and should never be President, warns Atiku
__________________________________________________________________
Lagos pays Alpha Beta N9b monthly, says George
George disclosed in an interview with TheNiche published on 24 January that Tinubu owns Alpha Beta, which he registered when he was Governor to collect tax for the Lagos government, and now pays the firm N9 billion in commission.
Below is an excerpt from the lengthy interview:
How has Tinubu run Lagos State that you are not happy about?
Now, one thing that Tinubu himself accepted the day they launched Bisi Akande’s book, he said when he came to Lagos, the IGR [internally generated revenue] was N600 million per month but that he increased it to N20 billion a month.
Now, when he came to serve, did he sign on that he must take part of that money? Isn’t it service? Didn’t he present himself that he wanted to serve the people, to manage the resources of the state for the betterment of the people, not to your damn family – wife, children and lackeys?
Who owns Alpha Beta Consulting that is still collecting the internally generated revenue of Lagos on behalf of the state and what percentage of it is Tinubu taking now – is it 15 per cent or 10 per cent? Where else in the civilised world is that done?
You are looking for Al Capone. Tinubu is a perfect description ….
Lagos generates N60 billion every 30 days and Alpha Beta collects the money on behalf of the state and 15 per cent of that is N9 billion, which one individual takes on a monthly basis. And you say we shouldn’t ask?
When you hear of billionaires, not the Al Capone type, you know what they do.
How has Tinubu acquired his wealth? Where in the world, civilised or uncivilised, have you ever seen anybody, a politician on an election day bring two bullion vans into his private house and when they asked him, what were you carrying, is it garri or rice, he said, it is my money.
Your money? Really? Coming from where? And you don’t see the need to ask this man questions, somebody who is aspiring to be president of my country? You are telling us just to railroad him in there? Those days are gone.
Do you hate Bola Tinubu?
Why should I hate him? He is a creation of the Almighty God. All I am saying is that this man says he wants to lead my nation, we want to know who he is.
What has he done? Some say he turned Lagos around. What a heck. I was born, bred and schooled here. What did he do?
When he said that he increased the state IGR from N600 million to N20 billion monthly, was that a guaranty that he will now start taking a portion of that? Who registered Alpha Beta Consulting? His Attorney General. Who was the Attorney General? Is it not this man, Yemi Osinbajo, the Vice President?
That is why he handpicked all those people, who should go to the House of Assembly and who should not, to do his bidding ….
So, when people ask me do you hate him? I say, what is my own, why should I hate him? It has nothing to do with hatred. He is sitting down there and all of you are pretending that you didn’t know that this guy is creaming off the best of our assets.
Maybe the boldness of Papa Macaulay is in me. This is a collective treasure for all of us. General Johnson, the first governor, Papa Jakande, Otedola, then the military people that ran the state they didn’t cream the state off as this guy is doing.
If I am lying, let him come out and defend himself. Let him controvert what I am saying. Is there no Alpha Beta company? The company’s office is in Ijora. Lagos State government gave them office. You remember their former Managing Director, Dapo Apara, who released the details?
So, a lot of our oldies, our egbons, our big brothers have soiled their hands and soiled their souls. Now, it is getting clearer by the hour that there is a problem.
I am not the only one talking but I am talking as a politician from Lagos and I am feeling very angry that our people should be in a much better stead than what this fellow has done.
What in particular is your fear about a Tinubu presidency?
If Bola Tinubu becomes President, he will convert the NNPC into another Alpha Beta, all the returns of the Central Bank will be converted. Our crude oil will be going to some unnamed refinery that will be making returns to him.
And then, he will be President of the Federal Republic, his wife will be Senate President, his son will be Governor of Lagos State and his daughter will be the Iyaloja of all the markets in Nigeria.
