How did the most prominent and powerful APC politician in APC,Bola Ahmed Tinubu-acquire the financial war chest to maintain and solidify his vast patronage network?Through rent seeking from Lagos State- backed by the stooges he put in power as Governors and House of Assembly members.
These are the means he used to join to billion dollar club:
1)Life pension-According to a Lagos Pension Law approved by former governor Bola Tinubu in 2007, a former governor will enjoy the following benefits for life: Two houses, one in Lagos and another in Abuja. (Property experts estimates such a house in Lagos to cost N500 million and Abuja N700 million.)

Others are six brand new cars replaceable every three years; furniture allowance of 300 percent of annual salary to be paid every two years.

He will also enjoy security detail, free medicals including for his immediate families.

Other benefits are 10 percent house maintenance, 30 percent car maintenance, 10 percent entertainment, 20 percent utility, and several domestic staff.
2)Taxation-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.
3)Toll Gates-The toll gates in Lagos are owned by Tinubu's business partner,Lebanese Chaugory,who was convicted for money laundering for Abacha in Switzerland ,who also happens to own Hi-Tech Construction that collects and arbitrarily increases prices of tolls for Lagos residents.
4)Land use Charge Collection- Investigations revealed that the two other collecting companies are Information Connectivity Solutions Limited (ICSL) and De Soffit Consults Limited. ICSL, SaharaReporters discovered, is a sister organization to Mr. Tinubu's Alpha.
5) Garbage Collection-Visionscape, The only Nigerian on the board is Niyi Makanjuola, the point man of the promoters and closely linked to Bola Tinubu.The Lagos and Visionscape Deal will cost taxpayers up to N85bn.

In an unprecedented move the State Executive Council at a meeting held on March 21, 2017 passed a resolution to secure the financing structure adopted by the Consortium to raise funds for the project via issuance of an Irrevocable Standing Payment Order (ISPO) as a charge on the State Internally Generated Revenue account/ Environmental Trust Fund.

This meant the Lagos State Government was basically agreeing to be on the hook in case of default for a N50 billion bond programme the Visionscape Group through its SPV was set to issu
The letter goes on to read : “Consequent upon the above, this office would implement the monthly remittance of the gross sum of Seven Hundred and Thirteen Million, Seven Hundred Thousand Naira Only (NGN713,700,000) as a first line charge from the revenue account of Lagos State Government which is to commence in June 2017 and terminate in June 2027.”

The consequence of this is that in a 1 year period the state would spend N8.56 billion as guarantees for the bond and be on the hook for about N85 billion over the 10 year timeline on just this one transaction.
Tinubu successfully used foreign businessmen like Chaugory,front companies like Alpha Beta and close associates to enter the billion dollar club and celebrated his entry by buying a Falcon VP-CBT Falcon private jet.
http://saharareporters.com/2018/03/30/two-companies-linked-tinubu-ambode%E2%80%99s-aide-collect-land-use-charge-lagos-state
https://www.dailytrust.com.ng/news/general/ex-govs-get-fat-pension-as-senators-ministers/140833.html
http://www.businessdayonline.com/inside-lagosvisionscape-deal-costs-taxpayers-n85bn/
http://saharareporters.com/2018/03/08/lagos-new-land-use-charge-revives-tinubu-alphabeta-and-lagos-funds-controversies

Trash and false allegations

waveybrah:
How did the most prominent and powerful APC politician in APC,Bola Ahmed Tinubu-acquire the financial war chest to maintain and solidify his vast patronage network?Through rent seeking from Lagos State backed by the stooges he put in power as Governors and House of Assembly members.
These are the means he used to join to billion dollar club:
1)Life pension-According to a Lagos Pension Law approved by former governor Bola Tinubu in 2007, a former governor will enjoy the following benefits for life: Two houses, one in Lagos and another in Abuja. (Property experts estimates such a house in Lagos to cost N500 million and Abuja N700 million.)

Others are six brand new cars replaceable every three years; furniture allowance of 300 percent of annual salary to be paid every two years, and a close to N2.5 million as pension (about N30 million pension annually).

He will also enjoy security detail, free medicals including for his immediate families.

Other benefits are 10 percent house maintenance, 30 percent car maintenance, 10 percent entertainment, 20 percent utility, and several domestic staff.
2)Taxation-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.
3)Toll Gates-The toll gates in Lagos are owned by Tinubu's business partner,Lebanese Chaugory,who was convicted for money laundering for Abacha in Switzerland court,who owns Hi-Tech Construction that collects and arbitrarily increases prices of tolls for Lagos residents.
4)Land use Charge Collection- Investigations revealed that the two other collecting companies are Information Connectivity Solutions Limited (ICSL) and De Soffit Consults Limited. ICSL, SaharaReporters discovered, is a sister organization to Mr. Tinubu's Alpha.
5) Garbage Collection-Visionscape, The only Nigerian on the board is Niyi Makanjuola, the point man of the promoters amd closely linked to Bola Tinubu.The Lagos and Visionscape Deal will cost taxpayers up to N85bn.

In an unprecedented move the State Executive Council at a meeting held on March 21, 2017 passed a resolution to secure the financing structure adopted by the Consortium to raise funds for the project via issuance of an Irrevocable Standing Payment Order (ISPO) as a charge on the State Internally Generated Revenue account/ Environmental Trust Fund.

This meant the Lagos State Government was basically agreeing to be on the hook in case of default for a N50 billion bond programme the Visionscape Group through its SPV was set to issu
The letter goes on to read : “Consequent upon the above, this office would implement the monthly remittance of the gross sum of Seven Hundred and Thirteen Million, Seven Hundred Thousand Naira Only (NGN713,700,000) as a first line charge from the revenue account of Lagos State Government which is to commence in June 2017 and terminate in June 2027.”

The consequence of this is that in a 1 year period the state would spend N8.56 billion as guarantees for the bond and be on the hook for about N85 billion over the 10 year timeline on just this one transaction.
Tinubu successfully used foreign businessmen like Chaugory,front companies like Alpha Beta and close associates to enter the billion dollar club and celebrated his entry by buying a Falcon VP-CBT Falcon private jet.

Lagosians are under slavery and bondage.

yarimo:
Trash and false allegations

Which of them?Why didn't you refute any of it with your own alternative facts-I cited my sources.

David Cameron was right

And Trump

Only 1 man open office on top 20 million people head. Mental slavery is real.

book of PDP and IGBOs to nairalands fools chapter 3 verse


PDP wanting to rule Lagos since 1860

sorry what left for Lagos if someone enjoying all these? IBO's what's your problem with tinubu?

Basic123:
book of PDP and IGBOs to nairalands fools chapter 3 verse



PDP wanting to rule Lagos since 1860

PDP will be just as worse as APC. Bode George will be the new godfather and be just as corrupt as APC. We need to vote for another party like KOWA or any other party that mean well for Lagosians and don't constatntly think about their pockets.

Lipscomb:
sorry what left for Lagos if someone enjoying all these? IBO's what's your problem with tinubu?

Stop using tribalism to derail the thread brah.

Please if you dont have a detailed rebutal no come here oo.. Secondly no come here with a borrowed data to defend tinubu ooo.

ucheo:
Please if you dont have a detailed rebutal no come here oo.. Secondly no come here with a borrowed data to defend tinubu ooo.

100

Lagosians when will your mumu don do?

This all seem like well researched exposè. Yorubas are subservient pple. People who are easily bent to accept rubbish and excesses.

No Igbo politician can hold Igbos to ransome.
Igbos will never bend the knee to anyone as far as that person has not shown that he is invinsible.
We didnt bend the knee willingly to white men till the Aro-British war ended with britain as victor. We didnt bend the knee to hausa fulani...not even after they won the civil war.
Yorubas rolled over and watch the Abiola family (one time richest nigerian)destroyed.
Obj used his tenue to turn Dangote to Nigerias new richest man and ensured that Abiola's name died. He also exiled a fellow yoruba man Adenuga because of 3rd term saga...and almost collapsed the man's globacom.

Lagos is the second largest economy in west africa (after nigeria) but pray tell wat really works in lagos? Lagos is richer than cairo, j'bourg and capetown...compare these 3 cities with the fvckery goin on in lagos. Even lekki dey smell. Marina is very dirty with road side traders everywhere.
Dont tell me na igbos be road side traders in lagos cos that is a big lie. Most road side traderz in lag are yoruba pple. They have occupied all the roads and makes the city an eyesore.

Tinubu should never be celebrated by yorubas. He is not in same league with Awolowo, Azikiwe or Ahmadu bello....pple who put their ppl first. Tinubu came to steal.

Bede2u:
We didnt bend the knee to hausa fulani...not even after they won the civil war. Yorubas rolled over and watch the Abiola family destroyed.

But you people 'bent over' after Nnmadi Kanu was disgraced and probably killed during operation python dance? Upon all the 'zoo must fall' chants back then, you all have 'bent over' and gotten fccked by the python over kanu saga, yes or no? But wait a minute, why are you Igbos such hypocrites? You are here carrying Yoruba matter on your head and talking about yoruba 'rolling over' concerning Abiola, Mr. Hypocrite where is Nnamdi Kanu?? You guys love to hate tinubu as if he stole from igbos. When sahara carried news about Ekweremadu loot you all were up in arm defending him because he is Igbo, yet you turned around and accuse Yoruba of slavery Why are you crying more than the bereaved? Your talk about Awo is hypocrisy as well because we know how you lots truly feel about Awo too. When will you stop being 'subservient' to Theo Orji who imposed Ikpeazu on you people? Go and face your own issues instead of always making provocative statements a Yorubas as if you people don't have your own problems. You are in no position to sanctimoniously lecture Yorubas on how to handle tinubu. Busy body hypocrites.

WisdomFlakes:


But you people 'bent over' after Nnmadi Kanu was disgraced and probably killed during operation python dance? Upon all the 'zoo must fall' chants back then, you all have 'bent over' and gotten fccked by the python over kanu saga, yes or no? But wait a minute, why are you Igbos such hypocrites? You are here carrying Yoruba matter on your head and talking about yoruba 'rolling over' concerning Abiola, Mr. Hypocrite where is Nnamdi Kanu?? You guys love to hate tinubu as if he stole from igbos. When sahara carried news about Ekweremadu loot you all were up in as defending him, yet you turned around and accuse Yoruba of slavery Why are you crying more than the bereaved? When will you stop being 'subservient' to Theo Orji who imposed Ikpeazu on you people? Go and face your own issues instead of always making provocative statements a Yorubas as if you people don't have your own problems. You are in no position to sanctimoniously lecture Yorubas on how to handle tinubu. Busy body hypocrites.

First of all, u have not heard the last about kanu and ipob....there is more to come, just be patient. We are down but not out.
Second is just like orji uzo kalu lost relevance in Abia, theordore orji is done. He will not win anything in 2019...watch this space.
3rd Ekweremadu stole FG money, we got no issue with that. Come to Enugu to see wat he does with that money and how guys dey ball because of him. Tinubu on the other hand steals yoruba money and uses it to campaign for fulani.. u guys are not smart. U have turned him to a tribal leader and hero when he is infact ur bane.
Finally we are in a position to lecture u guys about the elevation of tinubu among u guys. We consider u guys friends and cannot seat back and watch u guys keep destroying yourselves and the south with ur stupid mistakes. The south of Nigeria will never develpe if igbo and yoruba dont agree. U guys seems too far gone to be brought to reality but we will keep trying. If we dont take care of u, who will?

Bede2u:
First of all, u have not heard the last about kanu and ipob....there is more to come, just be patient. We are down but not out.
Second is just like orji uzo kalu lost relevance in Abia, theordore orji is done. He will not win anything in 2019...watch this space.
3rd Ekweremadu stole FG money, we got no issue with that. Come to Enugu to see wat he does with that money and how guys dey ball because of him. Tinubu on the other hand steals yoruba money and uses it to campaign for fulani.. u guys are not smart. U have turned him to a tribal leader and hero when he is infact ur bane.
Finally we are in a position to lecture u guys about the elevation of tinubu among u guys. We consider u guys friends and cannot seat back and watch u guys keep destroying yourselves and the south with ur stupid mistakes. The south of Nigeria will never develpe if igbo and yoruba dont agree. U guys seems too far gone to be brought to reality but we will keep trying. If we dont take care of u, who will?

You see why I called you a hypocrite? You people said you would bring down the 'zoo' if anything should happen to kanu. But he has disappeared now for months yet even your leaders who sold him out are happy, and you think you can come here and run your mouth about Yoruba people or lecture them about 'rolling over'? You even have the efforntery to admit that your igbo brother Ekweremadu stole, and excused that by claiming that he developed Enugu with the money he stole FG money, yet for some sick reason you still feel you have the right to cast aspersions at Yoruba people and Tinubu? Only igbos can do such because you people are masters at hypocrisy. It is criminal to even compare tinubu's acheivements in Lagos to your backwater region not to mention your village Enugu. What Tinubu has done and achieved in Lagos, even with the socalled money he stole, Enugu and the rest of the SE cannot match it in a hundred years. He has made Yorubas proud of Lagos by increasing its IGR beyond what all your states combined cannot match in a hundred years in spite of all your bragging and chest-beating, he initiated the Eko Atlantic, he gave us the likes of Fashola who brought multi-billion dollar Dangote Refinery to Lagos, Ambode is continuing his legacy with the Lekki seaport, among many other things that gave Lagos life after FG abandonment, and not a million igbos can rewrite that history no matter what. Even if he's convicted tomorrow of corruption, none of that history can be erased. Rather than obsessing over him, you had better face your region and pray for leaders that can 'steal' your money and still make such game-changing impact.

The south of Nigeria will never develpe if igbo and yoruba dont agree. U guys seems too far gone to be brought to reality but we will keep trying. If we dont take care of u, who will?

Stop deceiving yourself because Yorubas will never trust you two-faced igbos as you have made it clear how you really feel about us. Your best bet is to continue fighting for your Biafra. It seems you think that you can con yorubas into a fraudulent 'agree-ment' or whatever you call it by attacking their leaders. You deride Abiola, you accuse Awolowo of committing suicide, you attack Tinubu and accuse him of corruption while exonerating Ekweremadu because he is igbo like you and 'developed' Enugu, and you expect to be taken seriously and seen as potential allies? Better stay on your lane. You have better prospect by continuing with your Biafra agitation.

WisdomFlakes:


You see why I called you a hypocrite? You people said you would bring down the 'zoo' if anything should happen to kanu. But he has disappeared now for months yet even your leaders who sold him out are happy, and you think you can come here and run your mouth about Yoruba people or lecture them about 'rolling over'? You even have the efforntery to admit that your igbo brother Ekweremadu, and excused that by claiming that he developed Enugu with the money he stole FG money, yet for some sick reason you still feel you have the right to cast aspersions at Yoruba people and Tinubu? Only igbos can do such because you people are masters at hypocrisy. It is criminal to even compare tinubu's acheivements in Lagos to your backwater village Enugu. What Tinubu has done and achieved in Lagos, even with the socalled money he stole, Enugu and the rest of the SE cannot match it in a hundred years. He has made Yorubas proud of Lagos by increasing its IGR beyond what all your states combined cannot match in a hundred years in spite of all your bragging and chest-beating, he initiated the Eko Atlantic, he gave us the likes of Fashola who brought multi-billion dollar Dangote Refinery to Lagos, Ambode is continuing his legacy with the Lekki seaport, among many other things that gave Lagos life after FG abandonment, and not a million igbos can rewrite that history no matter what. Even if he's convicted tomorrow of corruption, none of that history can be erased. Rather than obsessing over him, you had better face your region and pray for leaders that can 'steal' your money and still make such game-changing impact.



Stop deceiving yourself because Yorubas will never trust you two-faced igbos as you have made it clear how you really feel about us. Your best bet is to continue fighting for your Biafra. It seems you think that you can con yorubas into a fraudulent 'agree-ment' or whatever you call it by attacking their leaders. You deride Abiola, you accuse Awolowo of committing suicide, you attack Tinubu and accuse him of corruption while exonerating Ekweremadu because he is igbo like you and 'developed' Enugu, and you expect to be taken seriously and seen as potential allies? Better stay on your line. You have better prospect by continuing with your Biafra agitation.

Frustrated yoruba boy take am easier o. See as u dey spit everywhere Lagos is an eyesore my brother. Leave west one day and come to east make u see say many parts of Enugu is more liveable than lekki.

Ofcourse i know u dont knw the meaning of igr. Thats why most of u are always bragging about it. Igr is not gdp....it simply means ur govt is over taxing u.

Bede2u:
Frustrated yoruba boy take am easier o. See as u dey spit everywhere Lagos is an eyesore my brother. Leave west one day and come to east make u see say many parts of Enugu is more liveable than lekki.

Ofcourse i know u dont knw the meaning of igr. Thats why most of u are always bragging about it. Igr is not gdp....it simply means ur govt is over taxing u.

Spoken like a true Yoruba/Lagos-hating ipob miscreant. With each utterance you keep exposing your true motive. Lagos is dirty, no problem we don hear. Enugu IGR is even higher than the whole of Yorubaland, no problem. Lagos is overtaxing people. Everything is wrong with Lagos and Yorubaland, yet you and your brothers refuse to remain in your shythole region, preferring instead to flee the southeast to the comfort of the same Lagos than to stay in your more 'liveable' Enugu. Only igbos can be that contradictory. The way you all hate Lagos and wish her ill, one would have expected that you would have left the state in droves for your utopian southeast. But no surprises here because you are hypocrites. Continue with your stupidity.

WisdomFlakes:


Spoken like a true Yoruba/Lagos-hating ipob miscreant. With each utterance you keep exposing your true motive. Lagos is dirty, no problem we don hear. Enugu IGR is even higher than the whole of Yorubaland, no problem. Lagos is overtaxing people. Everything is wrong with Lagos and Yorubaland, yet you and your brothers refuse to remain in your shythole region, preferring instead to flee the southeast to the comfort of the same Lagos than to stay in your more 'liveable' Enugu. Only igbos can be that contradictory. The way you all hate Lagos and wish her ill, one would have expected that you would have left the state in droves for your utopian southeast. But no surprises here because you are hypocrites. Continue with your stupidity.

Stop acting like illiterate almajiris and stop resorting to tribalism in my thread.

WisdomFlakes:


Spoken like a true Yoruba/Lagos-hating ipob miscreant. With each utterance you keep exposing your true motive. Lagos is dirty, no problem we don hear. Enugu IGR is even higher than the whole of Yorubaland, no problem. Lagos is overtaxing people. Everything is wrong with Lagos and Yorubaland, yet you and your brothers refuse to remain in your shythole region, preferring instead to flee the southeast to the comfort of the same Lagos than to stay in your more 'liveable' Enugu. Only igbos can be that contradictory. The way you all hate Lagos and wish her ill, one would have expected that you would have left the state in droves for your utopian southeast. But no surprises here because you are hypocrites. Continue with your stupidity.

I am not in lagos....but my Igbo brothers there are only there to take advantage of lazy yorubas and make millions off them. As they are in lagos, they are in Abuja, kano, kaduna and ph making millions and building mansions in the east.

Bede2u:
I am not in lagos....but my Igbo brothers there are only there to take advantage of lazy yorubas and make millions off them. As they are in lagos, they are in Abuja, kano, kaduna and ph making millions and building mansions in the east.

Free yourself from tribalism mental slavery.

waveybrah:
Free yourself from tribalism mental slavery.

i hear u sir...but na truth i dey speak o

Bede2u:
i hear u sir...but na truth i dey speak o

Bede2u:
Frustrated yoruba boy take am easier o. See as u dey spit everywhere Lagos is an eyesore my brother. Leave west one day and come to east make u see say many parts of Enugu is more liveable than lekki.

Ofcourse i know u dont knw the meaning of igr. Thats why most of u are always bragging about it. Igr is not gdp....it simply means ur govt is over taxing u.

We can’t be divided along tribal lines,we need to be united to take down the corrupt politicians.

WisdomFlakes:



Stop deceiving yourself because Yorubas will never trust you two-faced igbos as you have made it clear how you really feel about us. Your best bet is to continue fighting for your Biafra. It seems you think that you can con yorubas into a fraudulent 'agree-ment' or whatever you call it by attacking their leaders. You deride Abiola, you accuse Awolowo of committing suicide, you attack Tinubu and accuse him of corruption while exonerating Ekweremadu because he is igbo like you and 'developed' Enugu, and you expect to be taken seriously and seen as potential allies?

waveybrah:
We can’t be divided along tribal lines,we need to be united to take down the corrupt politicians.

Tell ur brother o. I dont knw why he no like Igbo o? Cos we tell them the truth?

P.S Awolowo actually committed suicide...by drinking rat poision or something...it wasnt meant to insult him...just saying the truth again

Bede2u:
Tell ur brother o. I dont knw why he no like Igbo o? Cos we tell them the truth?

P.S Awolowo actually committed suicide...by drinking rat poision or something...it wasnt meant to insult him...just saying the truth again

I have told him.You should both call a truce and focus on your common enemies -the corrupt politicians in APC and PDP

The godfather and his minion plotting against Lagos state treasury and planning new taxes for Lagos residents to pay.

Sad as it may be everythi g the OK has outlined is very true .

waveybrah:
The godfather and his minion plotting against Lagos treasury and planning new taxes for Lagos residents to pay.

Wetin dey trouble you useless people from across the Niger?

Wetin be ya own for Lagos abi confusion dey trouble una?

Are the yorubas complaining? Abi na the self delusion of indegeneship dey worry una?

waveybrah:
I have told him.You should both call a truce and focus on your common enemies -the corrupt politicians in APC and PDP

Your head no correct, alliance between yoruba and igbo?

So because you are selling spare parts and building materials now you think we are mates?

Bush peeps.