TheCitizen - It's all about you
  • Home
  • Headlines
  • Latest News
  • Governance
  • Business
  • Financial Crimes
  • Opinion
  • Editorials
No Result
View All Result
TheCitizen - It's all about you
  • Home
  • Headlines
  • Latest News
  • Governance
  • Business
  • Financial Crimes
  • Opinion
  • Editorials
No Result
View All Result
TheCitizen - It's all about you
No Result
View All Result

Brazen Looting of Lagos Treasury: 1999 – 2015

The Citizen by The Citizen
February 17 2015
in Opinion, Uncategorized
A A
0

By Seni Tinubu

 

In retrospect, it might be difficult to come to terms with the fact that whenever someone in Lagos begins to wonder where their 4th mainland bridge went, or what was the fate of the pipe-borne water project or even where the schools and hospitals had vanished to, there is a silence that contains it all.

 

The largest landlord in Lagos has done as he has pleased, and the rest of the state just has to deal with it. To start with, Number 4, Oyikan Abayomi (formerly Queens) Drive, Ikoyi; A 5- bedroom detached house on one acre of land which was originally the Lagos State Governor’s guest house since 1973, now belongs to Tinubu. The certificate of occupancy of the property valued at N450 million was signed and released to him by Fashola in 2007 shortly after he assumed office.

 

Tinubu’s residence at 26 Bourdillion Road, Ikoyi was initially falsely presented as Oando Plc Guest House. Later, he purportedly bought it from Oando, and used public funds to rebuild and renovate it. The Lagos State Government bought the property and paid an undisclosed sum to him and thereafter gave the property back to him under the bogus pension bill he signed to law shortly before he left office in 2007. The property is worth over N600 million.

 

The annex of the Lagos State Guest House in Asokoro, Abuja was bought by the State Government in 2006 for N450 million, purportedly to project the main house from security breach. Shortly after Tinubu left office, the property was transferred to him under the pension plan he signed into law before leaving office.

 

 

 

The 250-hectares of land valued at about N35billion and strategically located at the Ajah junction on Lekki Road was initially meant for a General Hospital for the people of Eti-Osa Local Government but was acquired by Tinubu and handed over to Trojan Estate Limited- a company owned by Deji and Wale Tinubu- to develop as Royal Garden Housing Estate at the expense of the taxpayers of Lagos.

 

The 1000 hectares of land valued at about N75billion located at Lakowe near Abijo at Ibeju-Lekki Local Government and given to Lekki Concession Company (LCC) which is partly owned by Tinubu and Fashola and being developed as golf course and housing estate by Assets and Resource Management Ltd (ARM) as ADIVA project.

 

The prime land of 157 hectares with 2.5km of Atlantic beachfront valued at about N10billion  and stolen by Tinubu from the communities of Siriwon, Igbekodo, Apakin, etc. in Ibeju-Lekki Local Government and given to Ibukun Fakeye-his crony to build a golf course and luxury villa with little or nocompensation to villagers. In addition, Tinubu paid $20million (N3billion) out of public treasury to Ibukun Fakeye to commence the project in late 2006. Fashola has since released additional funding for this project, which is not owned by the state government.

 

The 14 hectares Parkview Ikoyi Estate foreshore land reclaimed by Lagos State Government is now owned by Bola Tinubu. While in office, he allocated to himself the former Strabag yard beside the Lagos state secretariat at Alausa, Ikeja. The property has now been developed into a shopping mall as big as the Palms in Lekki. This is public property brazenly stolen and now owned by Tinubu, aided by Fashola.

 

The choice property at Lekki-Epe road on which he built and owns the multi-billion Naira Oriental Hotel and the extension of multi-storey car park beside it. Also, the multi-level recreation centre by Mobil Oniru Estate on Lekki-Epe road jointly owned with ARM and Tunji Olowolafe. All these assets valued at over N25billion were obtained without paying a kobo to the Lagos State Government.

 

Tinubu raised a loan of N4.7billion on Eko Akete project for which nothing was achieved before he turned around to sell the property to his Chagouri friends of Chagouri & Chagouri and Hitech Construction Ltd at a ridiculously low price at the expense of taxpayers of Lagos.   Tinubu applied to personally purchase the Federal Secretariat building while in office. When he couldn’t get to buy it, he directed Fasola to stop the eventual owner of the complex to develop it. The complex is presently wasting away courtesy of the Lagos Sate Government.

 

It took several months of horse trading and underhand payments before Fashola could allow the new owners of 1004 flats to develop the complex. Several other buyers of Federal Government properties and developers of properties in Ikoyi, Victoria Island and Government Reservation Area Ikeja wereforced to succumb to the outrageous demand of Tinubu, Fashola, Commissioner Abosede and other officials.

 

The Critical Care Unit of the Lagos State University Teaching Hospital (LASUTH) in IKeja, built and equipped with state funds, is now owned personally by Tinubu. He has put one Dr. Sikiru Tinubu, (a supposed cousin of his) to run the outfit. It is run as a private unit and the proceeds are pocketed by the duo. The unit charges its users exorbitantly and most Lagosians can hardly afford to pay its high charges. Much of the revenue is derived from fees paid by the State Government for patients referred there by its General Hospitals.

 

Several prominent Nigerians in the judiciary, police, INEC and other sensitive agencies have obtained prime land from Governor Tinubu and incumbent Governor Fashola over the years without paying a kobo. Many of them had turned around to sell the land to third parties at substantial profit. Many top officials in police, INEC and the judiciary who participated in the 2003 and 2007 elections and tribunals in states where Tinubu has interest were compromised with parcels of free prime Lagos land and cash. If the Lagos State Land’s Bureau could publish the names and identities of beneficiaries of land allotees from 2000 to date, the scandal that will result is better imagined. Gbenga Ashafa, now a senator and Mrs. Awofisayo were the conduits through which these acts were being perpetrated. Both were also the personally involved in various dubious land transactions on their own.

Previous Post

Borno: Suicide bombers kill 11 at Biu checkpoint

Next Post

The NNPC forensic audit report – Daily Independent

Related Posts

Candidate Sowore: Revolution, Marijuana and other stories
Opinion

Candidate Sowore: Revolution, Marijuana and other stories

September 25 2026
Opinion

 Akpakomiza and other stories

September 1 2026
‘Fake’ Agency: Adeyemi insists DG appointment genuine
Opinion

Fake agencies: Why Nigeria still needs Oronsaye report

August 25 2026
How Adeleke danced back from the dead
Opinion

How Adeleke danced back from the dead

August 19 2026
Adeleke’s win and the cost of winning at all costs
Opinion

Adeleke’s win and the cost of winning at all costs

August 18 2026
Airtime credit dispute and need for clarity
Opinion

Airtime credit dispute and need for clarity

August 5 2026
Next Post

The NNPC forensic audit report – Daily Independent

Total military offensive against terrorism - Punch

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

FROM THE GRASSROOTS

Minister defends King’s College concession, cites infrastructure decay

Minister defends King’s College concession, cites infrastructure decay

by The Editor
September 16 2026
0

...

Lagos demolishes shanties after four die in community clash

Lagos demolishes shanties after four die in community clash

by The Editor
August 30 2026
0

...

Kano, Sokoto, others spend N53.2bn on scholarships abroad

INEC fixes Sept 19 for Kano Assembly by-election

by The Editor
August 27 2026
0

...

Awujale: Ruling House sues Ogun, kingmakers

Awujale: Ruling House sues Ogun, kingmakers

by The Editor
August 25 2026
0

...

APPOINTMENTS

Enugu governor names Nollywood’s Eucharia Anunobi, Rachael Okonkwo aides

Enugu governor names Nollywood’s Eucharia Anunobi, Rachael Okonkwo aides

by The Editor
September 23 2026
0

...

Gov. Yahaya swears in 19 new Gombe permanent secretaries

Gov. Yahaya swears in 19 new Gombe permanent secretaries

by The Editor
September 11 2026
0

...

Niger State governor appoints six commissioners-designate, four aides

Niger State governor appoints six commissioners-designate, four aides

by The Editor
September 8 2026
0

...

Tinubu swears in Enitan as new Head of Service

Tinubu swears in Enitan as new Head of Service

by The Editor
August 28 2026
0

...

ODDITIES

Residents find lifeless body in Akwa Ibom gutter, police begin probe

New co-tenant absconds with neighbour’s children in Akwa Ibom

by The Editor
September 17 2026
0

Palliatives: Sokoto residents feared dead in stampede at Wammako’s residence

Police Inspector slumps, dies after fitness exercise

by The Editor
September 3 2026
0

How friend deceived me to sell my kidney, bought phones with payment — Victim

How friend deceived me to sell my kidney, bought phones with payment — Victim

by The Editor
August 30 2026
0

GLOBAL NEWS

Gambia orders banks to replace foreign workers with locals

Gambia orders banks to replace foreign workers with locals

by The Editor
September 25 2026
0

...

Trump signs security deal with Greenland, Denmark at UN

Trump signs security deal with Greenland, Denmark at UN

by The Editor
September 23 2026
0

...

Trump bars CNN, MS NOW, Politico from White House

Trump bars CNN, MS NOW, Politico from White House

by The Editor
September 18 2026
0

...

2027 Hajj: Saudi Arabia rejects Nigeria’s request for additional slots

2027 Hajj: Saudi Arabia rejects Nigeria’s request for additional slots

by The Editor
September 17 2026
0

...

Canada flags Nigeria, 16 African countries as high-risk in new travel advisory

Canada raises study permit, visitor visa processing times for Nigerians

by The Editor
September 17 2026
0

...

State of the States

Enugu Air opens international route to Cameroon, begins Enugu-Douala service

Enugu Air opens international route to Cameroon, begins Enugu-Douala service

by The Editor
September 25 2026
0

...

I won’t be a godfather; Abia voters will pick my successor, says Gov. Otti

I won’t be a godfather; Abia voters will pick my successor, says Gov. Otti

by The Editor
September 17 2026
0

...

Fubara orders fresh LG elections in Rivers State

Fubara signs N1.84tt Rivers 2026 budget into law

by The Editor
September 3 2026
0

...

Lagos empowers 6,190 residents with free vocational, entrepreneurial skills

Lagos empowers 6,190 residents with free vocational, entrepreneurial skills

by The Editor
September 2 2026
0

...

Plugin Install : Widget Tab Post needs JNews - View Counter to be installed
  • Trending
  • Comments
  • Latest
Candidate Sowore: Revolution, Marijuana and other stories

Candidate Sowore: Revolution, Marijuana and other stories

September 25 2026
Nigeria, U.S. sign framework for $700 billion mineral investment

Nigeria, U.S. sign framework for $700 billion mineral investment

September 25 2026
Court nullifies Pantami as Gombe PDP guber candidate

Court nullifies Pantami as Gombe PDP guber candidate

September 25 2026
Process of rigging 2027 polls has started — Prof Jinadu reveals

2027: Elections must be decided at polls, not courts — Onaiyekan, Osigwe

September 25 2026

EDITORIAL REVIEW

Tele-robotic surgery: Nigeria needs more medical feats – Punch

Tele-robotic surgery: Nigeria needs more medical feats – Punch

by The Editor
September 25 2026
0

2027: Voter registration figures must mirror turnout – Punch

2027: Voter registration figures must mirror turnout – Punch

by The Editor
September 17 2026
0

EFCC recoveries: The good, the bad and the ugly – Punch

EFCC recoveries: The good, the bad and the ugly – Punch

by The Editor
September 11 2026
0

Football’s house of failure – Punch

Football’s house of failure – Punch

by The Editor
September 8 2026
0

FAAC shares N2.09tr to FG, states, local councils as October revenue

FAAC bonanza: Nigeria’s fiscal paradox – Punch

by The Editor
September 3 2026
0

Opinion

Candidate Sowore: Revolution, Marijuana and other stories

Candidate Sowore: Revolution, Marijuana and other stories

by The Editor
September 25 2026
0

...

 Akpakomiza and other stories

by The Editor
September 1 2026
0

...

‘Fake’ Agency: Adeyemi insists DG appointment genuine

Fake agencies: Why Nigeria still needs Oronsaye report

by The Editor
August 25 2026
0

...

How Adeleke danced back from the dead

How Adeleke danced back from the dead

by The Editor
August 19 2026
0

...

Plugin Install : Popular Post Widget need JNews - View Counter to be installed
  • Home
  • Headlines
  • Latest News
  • Governance
  • Business
  • Financial Crimes
  • Opinion
  • Editorials

© 2026 TheCitizen Ng. All Rights Reserved.

No Result
View All Result
  • Home
  • Headlines
  • Latest News
  • Governance
  • Business
  • Financial Crimes
  • Opinion
  • Editorials

© 2026 TheCitizen Ng. All Rights Reserved.