Stop Tinubu From Controlling Alpha Beta, Ex-MD Apara Begs Court

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A former Managing Director of Alpha Beta LLP, Mr. Dapo Apara,
has filed a suit before a Lagos State High Court asking it to stop
a former Governor of Lagos State, Bola Tinubu, from controlling the
finances of Alpha Beta.

In the suit filed by Mr Ebun-Olu Adegboruwa (SAN) on behalf of
Apara on Wednesday, the former MD alleged that Tinubu controls
Alpha Beta, a tax consulting firm that monitors and generates
revenue on behalf of the Lagos State Government.

The ex-Alpha Beta boss had in 2020 filed a suit before the court
but withdrew it before filing it a second time after making
amendments.

Apara, who had in 2018, written a petition to the Economic and
Financial Crimes Commission accusing Alpha Beta of tax fraud, asked
the court to compel the firm to pay him his entitlements even as he
alleged that Tinubu was the one that got him removed from his
position as MD for investigating the firm’s finances.

Apart from Tinubu, others named as defendants in the suit
included Alpha Beta and the current Managing Director, Mr Akin
Doherty, who is also a former Commissioner for Finance in Lagos
State.

The claimant is seeking eight reliefs including “A declaration
that the 2nd defendant (Tinubu), not being a named partner of the
1st defendant (Alpha Beta), is not entitled to direct or influence
the affairs of the 1st defendant in such a way that will deprive
the claimant (Apara) of his profits and entitlements from the 1st
defendant.

“An order directing the defendants herein, to render an account
of all sums due to the claimant from the defendants, from 2010 to
date (and) an order tracing all funds and assets due to the
claimant from the defendants herein from the inception of the 1st
defendant till date.

“An order of specific performance of Clause 8 and 11.0 of the
partnership agreement that created the 1st defendant by extant
partners; an order for payment to the claimant by the 1st and 3rd
defendants, of all sums adjudged to be due to the claimant from the
said 1st and 3rd defendants on the submission of the accounts.

“A perpetual injunction restraining the 2nd defendant (Tinubu),
from directing, influencing or in any other manner running the
affairs of the 1st defendant (Alpha Beta) in such a way that will
deprive the claimant of his profit and entitlements from the 1st
defendant (Alpha Beta), the 2nd defendant not being a partner of
the 1st defendant.

“Ten per cent interest in ruling (5) above; and cost of this
suit of N10m.”

In the statement of claim, Apara also narrated how Alpha Beta
was allegedly formed in 2002 when Tinubu was still the governor of
Lagos State.

The claimant said he was the one who came up with the idea of a
consulting firm to help the state government to track and reconcile
taxes.

“The claimant (Apara) avers that sometime in about the year
2000, he solely conceived, prepared and presented a proposal to the
Lagos State Government on providing consultancy services using his
registered firm, Infiniti Systems Enterprises, with respect to
using computer technology to track and reconcile the Internally
Generated Revenue of the state.

“The claimant avers that following the presentation of his
proposal to the Lagos State Government, the second defendant (Bola
Ahmed Tinubu) who was at the time the governor of Lagos State,
demanded that 70 per cent equity interest in the project be
assigned to a certain Olumide Ogunmola on his (Tinubu’s) behalf
before he, the second defendat, would approve the project,” Apara
said in his statement.

The former Alpha Beta boss claimed Tinubu nominated Adegboyega
Oyetola and one Olumide Ogunmola.

He said due to the technological innovation that was deployed by
him, the IGR of the state grew from N10bn per annum in 2002 to
N300bn in 2019.

The claimant stated that in 2010 or thereabout, Tinubu directed
that the incorporation structure of the Alpha-Beta Consulting Ltd
be changed from a limited liability company to a limited liability
partnership under a newly promulgated law in Lagos State.

He said the aim of the move was to shield Tinubu’s involvement
from public scrutiny.

Apara said as the head of the company, he began looking into its
finances and he made many startling discoveries such as mysterious
transfers of over N20bn in different currencies to several
companies.

The former Alpha Beta boss said he realised that all the
payments were sanctioned by the partners nominated by Tinubu and
they were done without his knowledge, contrary to the terms of
their partnership.

Apara stated that Tinubu was furious that he was looking into
the company’s finances and ordered that he be demoted to deputy
managing partner.

He said he refused to obey this order and this led to a feud
between the both of them.

No date has been fixed for the hearing of the suit.

Both Tinubu and Alpha Beta had last year described Apara’s
allegations as spurious.

The company had alleged that Apara was relieved of his position
because he was involved in fraud.

A statement by the firm read in part, “The fact is that Dapo
Apara began making his untrue allegations in the aftermath of his
removal as Managing Director of Alpha Beta for fraud and unethical
practices.

“While he was MD, Apara used his position to siphon huge sums of
money from the company including but not limited to fraudulently
converting $5m; money allegedly used to pay for cloud-based
services that were eventually discovered to be worth less than
$300,000.

“In July 2018, further evidence of his fraudulent and unethical
practices was uncovered, including the revelation that he converted
approximately N6bn belonging to Alpha Beta to his personal
use.”