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

Tinubu and Alpha Beta connection

The Citizen by The Citizen
February 26 2015
in Opinion, Uncategorized
A A
0

By Mike Olise

In Lagos, Alpha Beta, as consultants, gets 10 percent of whatever Lagos State generates monthly. If this statement confuses you, you are not alone. There are just a few things you need to keep in mind though: Lagos State generates roughly 31 billion Naira a month. Ten percent of that is going to a consultancy firm owned by the former governor of Lagos State, Bola Tinubu. 75% of the revenue generated by Lagos State comes from taxes.

If you need to read the paragraph again, you are not alone. However, the truth of the matter is that Alpha Beta Company has been the tax consultant to the Lagos State government since 1999, when the former governor Tinubu began his tenure.

That year, Alpha Beta Company had definitely succeeded by delivering a dramatic rise in monthly state revenue from about 600 million Naira to 7.7 billion Naira. A laudable achievement indeed, but it would have been less so if the citizens of Lagos State knew what they had traded it in for. Alpha Beta Company had charged the state of Lagos a whopping one billion Naira a month for their services.

Now, just to reiterate, Tinubu owns Alpha Beta Company. Tinubu was also at the time, the Governor of Lagos State. Alpha Beta Company became the tax consultant for Lagos State in 1999, and they charged roughly 13% of the entire state revenue.

Today, Alpha Beta Company is still the tax consultant for the state. They now charge roughly 10% of the entire state revenue and Tinubu still owns it. The only thing that has changed is that Tinubu is no longer the Governor of Lagos State, or so it says on paper. With utmost respect to the office of State Governor, Tinubu is still very much in control of the state’s affairs, or at the very least, its revenue.

Despite all feelings of being scandalized here, one must look at the big picture. Governor Fashola is still working for Bola Tinubu. If he was not, things might have changed. New relationships would have been forged with the State Government and interest groups. However, the standings beg the question: what has really changed since then?

Undisclosed sources claim that Tinubu’s role in installing Fashola as Governor of the State is the biggest hindrance for the present regime. An agreement between Fashola and Tinubu over the duration of the tenure of governorship, as well as the selection of certain cabinet members paints a vivid picture on the sort of bind Fashola is in. At the moment however, one wonders whether or not he finds it at convenient as he used to, or if he ever did.

What is clear, however, is that there appears to be a lot of money changing hands, and the masses are still bewildered over the fate of roughly 31 billion Naira in revenue per month. There are a number of allegations regarding Fashola’s spending penchants. Here are just a few of them that beg to be disproved:

1. That in 2009, Fashola gave N250 million to the Rotimi Akeredolu-led executive of the Nigeria Bar Association (NBA) for the NBA conference held in Lagos, at a time when Lagos teachers and doctors were on strike for improved welfare package.

2. The Babatunde Raji Fashola Government within six months, January to June 2009, spent N420 million on the hiring of private security – to guard who? – despite his heavy investment in the Police Force through the State Security Trust Fund.

3. Babatunde Raji Fashola spent N1.5 billion to demolish the Bank of Industry (BOI) building, paying a company introduced by one Tunji Olowolafe in cash transfer, only for him and his cronies to claim the land adjacent to it.

4. The Babatunde Raji Fashola Government awarded a part of Western Avenue (Funsho Williams Road), about two kilometres road for N7.7 billion, just between Abalti Barracks and Costain. And without the construction of any bridge, the project was carried out by Julius Berger. This project must certainly be investigated.

5. Between January and June 2009, the Babatunde Raji Fashola Government claimed to have fuelled 225 vehicles in his office alone with N135 million. These figures amount to about N800,000 per day at a time that petrol was sold for N65 per litre. The Government always got fuel cheaper, but Babatunde Raji Fashola claimed to have bought it at N85 per litre.

6. Between January and June 2009, Babatunde Raji Fashola’s Chief of Staff and Personal Assistants expended N290 million in sending text messages and phone calls on their lines.

7. It is also very sad to know that the Babatunde Raji Fashola Government awarded the construction of a road and drains inside Gbagada General Hospital for over N1.8 billion to the same Tunji Olowolafe’s company (DEUX Projects Limited).

8. The sum of N1.5 billion of un-appropriated funds, without approval, was claimed to have been spent on the demolition of Oshodi.

9. The Helicopter Deal was a big fraud. The helicopter was not built for any kind of emergency evacuation, rescue or to even combat urban fire. Over N5 billion has been spent on the two helicopters. And the seal of Lagos State is not on it, and it is not even in Lagos but in the Niger Delta making money for some private people in Government. The whole helicopter deal stinks to high heavens; it constitutes the biggest governmental fraud of all times and confirms the rot in the State. See THISDAY December 19, 2009.

10. The Senior Special Assistant, SSA (Media) to Babatunde Raji Fashola spent N183 million in six months on press coverage and editors outside the approved budget but funded directly from the Governor’s Office.

11. In a State where children are sitting on the floor in classrooms, where unemployment is rampant and poverty pervasive, Babatunde Raji Fashola paid the wife of a controversial pastor over N600 million in two years for Christmas decorations for about six streets in Lagos.

12. In six months, between January and June 2009, Babatunde Raji Fashola spent monies on several faceless organisations, subventions, grants and donations such that they quickly pocketed N2 billion.

Most of these allegations were compiled by the True Face of Lagos, the same group that petitioned against Fashola to the House of Assembly and the EFCC. The Lagos State Government is under the proverbial microscope and the masses are watching wit rapt attention.

Olise, a public affairs analyst wrote from Lagos

Previous Post

FRSC cancels deadline for new number plate

Next Post

South Korean court legalises adultery

Related Posts

The dangers of a one-party state
Opinion

The dangers of a one-party state

May 5 2026
Dear Senator Tinubu, Buhari has thrashed us all!
Opinion

NBC’s real struggle

April 30 2026
Even INEC admonishes the media?
Opinion

Even INEC admonishes the media?

April 12 2026
Enugu: Gov Mbah presents N521.5bn budget for 2024
Opinion

Mbah: From contested mandate to constructive governance in Enugu

April 9 2026
Tinubu finds his own demons
Opinion

How will Tinubu campaign in Plateau State?

April 9 2026
Bwala, Hasan and the art of the political interview
Opinion

Bwala, Hasan and the art of the political interview

April 6 2026
Next Post

South Korean court legalises adultery

Court stops impeachment move against Niger deputy governor

Leave a Reply Cancel reply

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

FROM THE GRASSROOTS

Gov. Adeleke deposes Oba Joseph Oloyede, Apetu of Ipetumodu

Gov. Adeleke deposes Oba Joseph Oloyede, Apetu of Ipetumodu

by The Editor
May 12 2026
0

...

Ebonyi State lifts 3-month curfew after bloody boundary crisis

Ebonyi State lifts 3-month curfew after bloody boundary crisis

by The Editor
May 5 2026
0

...

Ondo community begs Gov. Aiyedatiwa to intervene in regent appointment crisis

Ondo community begs Gov. Aiyedatiwa to intervene in regent appointment crisis

by The Editor
April 30 2026
0

...

Service Chiefs: Let the changes count – Punch

Tinubu approves ₦17bn grassroots devt fund for 8,804 wards

by The Editor
April 22 2026
0

...

APPOINTMENTS

Tinubu creates Homeland Security adviser role, appoints ex-army general

Tinubu creates Homeland Security adviser role, appoints ex-army general

by The Editor
May 11 2026
0

...

Soludo appoints MDs for three Anambra agencies

Soludo appoints MDs for three Anambra agencies

by The Editor
May 4 2026
0

...

Tinubu seeks Omidiran, 28 others’ confirmation as FCC members

Tinubu approves immediate assignment of four new permanent secretaries

by The Editor
May 4 2026
0

...

FirstBank confirms appointment of Olayinka Ijabiyi as Group Head, Marketing & Corporate Communications

FirstBank confirms appointment of Olayinka Ijabiyi as Group Head, Marketing & Corporate Communications

by The Editor
May 1 2026
0

...

ODDITIES

Woman allegedly beats 9-yr-old stepdaughter to death

Woman allegedly beats 9-yr-old stepdaughter to death

by The Editor
May 12 2026
0

Police begin disciplinary action against officer in viral misconduct video

Police begin disciplinary action against officer in viral misconduct video

by The Editor
May 10 2026
0

Gombe magistrate lands in jail for bribery

Gombe magistrate lands in jail for bribery

by The Editor
May 7 2026
0

GLOBAL NEWS

Trump to visit China for high-stakes talks with Xi Jinping

Trump to visit China for high-stakes talks with Xi Jinping

by The Editor
May 12 2026
0

...

Macron in fresh push to rebuild France-Africa partnership

Macron in fresh push to rebuild France-Africa partnership

by The Editor
May 12 2026
0

...

Instagram ends support for end-to-end encrypted DMs

Instagram ends support for end-to-end encrypted DMs

by The Editor
May 8 2026
0

...

New York governor bans ICE agents from wearing masks

New York governor bans ICE agents from wearing masks

by The Editor
May 7 2026
0

...

France to raise tuition fees for non-EU students

France to raise tuition fees for non-EU students

by The Editor
May 7 2026
0

...

State of the States

Gov. Radda gifts cars to outstanding Katsina students

Gov. Radda gifts cars to outstanding Katsina students

by The Editor
May 12 2026
0

...

Okpebholo promises justice for slain UNIBEN student

Okpebholo promises justice for slain UNIBEN student

by The Editor
May 11 2026
0

...

Gov. Mbah pledges to end road crashes in Enugu

Enugu govt to build 660MW coal-fired power plant

by The Editor
May 7 2026
0

...

Davido backs Adeleke’s re-election, joins campaign mobilisation in Osun

Otti pledges to keep security as top priority in Abia

by The Editor
May 7 2026
0

...

Plugin Install : Widget Tab Post needs JNews - View Counter to be installed
  • Trending
  • Comments
  • Latest
Akwa Ibom governor consults Akpabio over 2027 re-election bid

Akwa Ibom governor consults Akpabio over 2027 re-election bid

May 12 2026
Nollywood star Alex Ekubo dies at 40

Nollywood star Alex Ekubo dies at 40

May 12 2026
ADC revises primary election timetable, nomination fees

Eight aspirants jostle for ADC guber ticket in Rivers State

May 12 2026
Gov. Radda gifts cars to outstanding Katsina students

Gov. Radda gifts cars to outstanding Katsina students

May 12 2026

EDITORIAL REVIEW

Urgent measures needed against hantavirus – Punch

Urgent measures needed against hantavirus – Punch

by The Editor
May 10 2026
0

Nigeria at critical juncture – Vanguard

The cost of living crisis is becoming a national emergency – PM News

by The Editor
May 7 2026
0

Robbers on the rampage – Punch

Robbers on the rampage – Punch

by The Editor
May 7 2026
0

Outrageous extrajudicial Delta police killing – Punch

by The Editor
May 5 2026
0

Oyedele’s moment: Not business as usual – Punch

Oyedele’s moment: Not business as usual – Punch

by The Editor
May 4 2026
0

Opinion

The dangers of a one-party state

The dangers of a one-party state

by The Editor
May 5 2026
0

...

Dear Senator Tinubu, Buhari has thrashed us all!

NBC’s real struggle

by The Editor
April 30 2026
0

...

Even INEC admonishes the media?

Even INEC admonishes the media?

by The Editor
April 12 2026
0

...

Enugu: Gov Mbah presents N521.5bn budget for 2024

Mbah: From contested mandate to constructive governance in Enugu

by The Editor
April 9 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.