Tinubu’s son Seyi on Chagoury’s board, a conflict of interest – Former VP Atiku
The Peoples Democratic Party (PDP) presidential candidate in last year’s general election, Alhaji Atiku Abubakar, has faulted the alleged board membership of President Bola Tinubu’s son, Seyi, in a company belonging to Lebanese-Nigerian family, the Chagourys.
In a statement last night in Abuja by his Media Adviser, Paul Ibe, the former Vice President accused Seyi of being a director on the board of CDK Integrated Industries, a subsidiary of the Chagoury Group, which manufactures ceramic tiles and sanitary towels.
Citing a report by Paris-based Africa Intelligence News Agency where it was revealed by the Corporate Affairs Commission (CAC) that Seyi is officially a business associate of Chagoury, Atiku said: “Thanks to quality reporting by Africa Intelligence, our suspicions have been confirmed that Chagoury and Tinubu are indeed business partners and it has been formalised with Seyi on the board of one of Chagoury’s firms.”
The former vice president noted that it was obvious that the Lagos-Calabar coastal highway was being done in a hurry because of the business relationship between the President and Gilbert Chagoury, the owner of Hitech and the contractor who got the coastal highway project.
Atiku said the business relationship contravened the nation’s procurement laws.
“It is on record that this project is the most expensive single project ever embarked upon by the Nigerian government; the fact that it is happening at a time Nigeria is facing its worst economic crisis ever is a red flag.
“To add insult to injury, this project that is being done in excess of $13 billion was awarded without a competitive bidding. From all indications, the so-called Badagry-Sokoto highway would be awarded in a similar fashion at an enormous cost to taxpayers purely because Tinubu has put his personal interest ahead of the Nigerian people.”
Atiku alleged that the demolition of tourist and recreational facilities and other properties within the Oniru corridor, including parts of Landmark Resorts, without ample notice, was among the reasons foreign direct investments continued to elude the country.
