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N438m Scandal: I Am A Shareholder Not Director Of The Company - Tunji-Ojo - Politics (5) - Nairaland

Nairaland Forum / Nairaland / General / Politics / N438m Scandal: I Am A Shareholder Not Director Of The Company - Tunji-Ojo (19281 Views)

CCB Invites Tunji-Ojo Over Alleged N438m Contract Scam / Another Minister, Tunji-ojo Fingered In Another N438m Fraud. / Adebayo Shittu On NYSC Scandal: I Don't Have Fake Certificate Like Kemi Adeosun (2) (3) (4)

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Re: N438m Scandal: I Am A Shareholder Not Director Of The Company - Tunji-Ojo by poseidon12: 8:10am On Jan 09
TimeManager:
Baba, just focus and leave detractors and blackmailers, they must be stupid to think they could bring down every performing minister as they did Betta. By the time DSS starts picking them up one after another, they'd be alright.

-kiss truth!

A thief will support a thief of course.



Re: N438m Scandal: I Am A Shareholder Not Director Of The Company - Tunji-Ojo by Ferdinandu(m): 8:11am On Jan 09
chisomkachy:


https://www.google.com/amp/s/punchng.com/betta-edu-im-not-involved-in-n438m-million-contract-interior-minister/%3famp

Idiot agreed he founded the company, he is still a shareholder in the company probably bingo still owns upto 90% of the shares but he is washing his hands off all the dealings of the company. Who founds a company in Nigeria that is still making profits , never sold it off and still claims to be uninterested in what happens there. Big time liar

1 Like

Re: N438m Scandal: I Am A Shareholder Not Director Of The Company - Tunji-Ojo by MT: 8:11am On Jan 09
dinkyicon:
stop saying what you dont know. The fmr president of America Donald trump is a shareholder to lot of companies. Even Tinubu, even Obasanjo. So what's your point. To sell off your properties while entering the government?

Stop making irrelevant references.

Your Donald Trump committed 3400 conflict of interest, as a sitting President and they were well documented by the watch dog (https://www.google.com/amp/s/www.forbes.com/sites/andrewsolender/2020/09/24/watchdog-report-cites-3400-conflicts-of-interest-during-trump-presidency/amp/)

Is ethic alien to Nigerians?

Why you guys don't seem to understand that ethical standard was broken here was beyond me
Re: N438m Scandal: I Am A Shareholder Not Director Of The Company - Tunji-Ojo by poseidon12: 8:15am On Jan 09
Odogwuzack:


Did you read where he said he had resigned his directorship in 2019 (with proper documentations) and do not pursue jobs for the company neither is he a signatory to any document?

I'm very sure you saw that part but una agenda must agend. cool

Keep quiet. Not everyone is as naive and gullible as you. Didn't you read the part where he said he formed the company? He is the owner of that Company. The Directorship resignation is just clever paperwork to cover up his ownership. Nigeria is not US or Europe, ok?
Re: N438m Scandal: I Am A Shareholder Not Director Of The Company - Tunji-Ojo by NinjaMetahuman: 8:15am On Jan 09
Racoon:
Did he resigned as shareholder before taking government appointment? If not he is culpriable too. Paddy paddy government.
read the post na.. it's short.

He said he has resigned long ago.
The post is not even that long.
Re: N438m Scandal: I Am A Shareholder Not Director Of The Company - Tunji-Ojo by EvangelistChuks(m): 8:18am On Jan 09
Even companies bar their employees and family members from participating in the promo they run ;ordinary company. Nigerians defending the indefensible. Jesus loves you.
Re: N438m Scandal: I Am A Shareholder Not Director Of The Company - Tunji-Ojo by NinjaMetahuman: 8:19am On Jan 09
Racoon:
Did he resigned as shareholder before taking government appointment? If not he is culpriable too. Paddy paddy government.
being a shareholder means you are not in full control of the company and all its decision.

Just like Jim ratckliff is not full owner of many UTD and cannot just wake up one day, and say let's start doing shady business with some club from Saudi.

It has to be out to a votes
Re: N438m Scandal: I Am A Shareholder Not Director Of The Company - Tunji-Ojo by emmnprince(m): 8:20am On Jan 09
Racoon:
Did he resigned as shareholder before taking government appointment? If not he is culpriable too. Paddy paddy government.

Is it out of place base on PSR for a government official to be a shareholder of a company (or a shareholder of the company he founded)?
Re: N438m Scandal: I Am A Shareholder Not Director Of The Company - Tunji-Ojo by PHAYOL81: 8:22am On Jan 09
Wow, watching patiently.
Re: N438m Scandal: I Am A Shareholder Not Director Of The Company - Tunji-Ojo by NinjaMetahuman: 8:26am On Jan 09
Odogwuzack:


Lmao

You guys should go and sit down with your malicious intent if you can not point to a part of the constitution he breached.
it's not even that hard. But they just want to crucify the guy.

First, the company didn't do any thing illegal. They were paid for a service.

Second, the man resigned in 2019 when he became senator. So whatever decision after that was solely on the new CEO of the company which has to be put to a vote ofcos.


Third, Should agecenies not receive legal consultation fees again because government is paying? Or contractors should not receive project enumeration again because government?
Re: N438m Scandal: I Am A Shareholder Not Director Of The Company - Tunji-Ojo by aAK1(m): 8:29am On Jan 09
All this are technicalities. This guys know what they are doing
Re: N438m Scandal: I Am A Shareholder Not Director Of The Company - Tunji-Ojo by tamdun: 8:30am On Jan 09
Racoon:
Did he resigned as shareholder before taking government appointment? If not he is culpriable too. Paddy paddy government.
How do one resign from being a share holder?
Re: N438m Scandal: I Am A Shareholder Not Director Of The Company - Tunji-Ojo by LordAdam16: 8:30am On Jan 09
seunmsg:


You read clearly where he said he resigned five years ago and you’re still asking this silly question. He even brought the company resulting endorsing his resignation and the certified true copy of his CAC document accepting his removal as director of the company since 2019 to the program. So, what else are you looking for?

Yes, he said that.
But SR reportage with screenshots of the current details as of time of writing clearly showed the CAC identifying him as a director, alongside his wife. Here is the link - https://saharareporters.com/2024/01/08/how-company-owned-tinubus-interior-minister-olubunmi-tunji-ojo-got-n438million

Bear in mind that the entry was updated as recently as November 2023. So, if he did in fact resign his executive position in the company in 2019, ideally, it should be reflected in the public records.

The Nigerian civil service is notoriously negligent, so he may in fact be correct, and the error may be from whichever department is in charge of updating CAC records. But that calls for a detailed investigation. If there's to be an investigation, precedence dictates Tinubu suspends him as well.

Tinubu opened a can of worms by suspending Betta Edu. Everyone in his government will get a suspension if their activities comes to light. And they likely will if the dominoes continue to fall. It'll be a circular firing squad as no one will opt to go down alone.

-Lord

4 Likes 1 Share

Re: N438m Scandal: I Am A Shareholder Not Director Of The Company - Tunji-Ojo by mrjojo: 8:32am On Jan 09
The smart and "honorable" thing would be to resign. The company got the contract solely due to his influence and not through a fair bidding process
Re: N438m Scandal: I Am A Shareholder Not Director Of The Company - Tunji-Ojo by NinjaMetahuman: 8:34am On Jan 09
dfrost:


Chief, let's drop this. He's a Shareholder. A shareholder is very much aware and in the know.

The directors are also in the know that he is a minister. They should have avoided it and look for private contracts.
let's say you have shares in Julius Berger, it makes you a shareholder but not owner of Julius Berger.

If Julius Berger legally collects contract from government but it turns out the money for the contract came from dasuki gate.
Should they sack you from your current place of work for the decision carried out by Julius Berger and it's CEO?
Re: N438m Scandal: I Am A Shareholder Not Director Of The Company - Tunji-Ojo by Bluntemperor: 8:39am On Jan 09
Bobloco:
The biggest shareholder you mean
Then you are culpable
Kindly throw in the towel now and submit yourself to the nearest EFCC office

Are you the EFCC now, because you love to galvanized wickedly on anything-this govt is doing just because of your elections loss as an LP and PDP Sympathersers!
Sorry,go and learn the rules of Business Administration and Financial Laws!
In a normal business,duely registered, even where the business owners are unknown,the Courts can ask the Corporate Affairs Commission- to lift the veil of the Incorporation,ie, we can know who is behind the business,just as Seun Osewa could be asked behind - to show the names of those talking or Enemies of the State or have insurrections backgrounds,so if you think you are hiding your identity on this Platform to commit an Offence against the State,sorry is your name!
•You should learn to be observant,than being an antagonist at all times!
Re: N438m Scandal: I Am A Shareholder Not Director Of The Company - Tunji-Ojo by showwiggy: 8:42am On Jan 09
Odogwuzack:


Did you read where he said he had resigned his directorship in 2019 (with proper documentations) and do not pursue jobs for the company neither is he a signatory to any document?

I'm very sure you saw that part but una agenda must agend. cool


They don't read,they only follow their inbuilt hatred instincts. Data price needs to increase so we would not be seeing stupid comment from the children of hates.
Re: N438m Scandal: I Am A Shareholder Not Director Of The Company - Tunji-Ojo by yeshuasfootstep(m): 8:43am On Jan 09
Consultancy.
This word has been used to loot us dry.
What actually are they consulting?

How to make sure that all involved got their money openly and transparently?
Because that's just the task the ministry must accomplish.

But in this case we've seen that the consultants failed woefully as public money even found itself inside private account.

If you think it may be used or returned intact later, what happens to interests that will accrue, and the temptation to delay it for such interests thereby short-changing supposed beneficiaries.

So this has proved that consultancy in this part of the world is just a word used to reduce, or even finish money meant for any project.

The consultants have to return the money and be prosecuted, followed by curses of the poor they've defrauded.
Re: N438m Scandal: I Am A Shareholder Not Director Of The Company - Tunji-Ojo by Odogwuzack: 8:49am On Jan 09
nedekid:

Are you for real?
People, including this fellow shared billions meant for poverty alleviation claiming to have gone door to door to validate social register. Something we know the even never did, yet you are here defending this charlatan. We are talking of half a billion! Total shared to others 3b! Money shared for nothing. Most, including this one, paper companies without staff or offices.
How can you in all conscience defend who is stabbing you in your kidneys? Do your personally have millions and billions? No wonder these fellows don't care for inflation, do not mind that cars are now sold in tens of millions, no wonder they can buy houses of 500m 750m etc. They just seat and share billions! Then send 30k monthly to online worriors to defend and sing their praises.

You know all these and you know Obi did worse yet you guys promoted him and sing his praises.

You are not serious.
Re: N438m Scandal: I Am A Shareholder Not Director Of The Company - Tunji-Ojo by kingsways: 8:50am On Jan 09
daygee12:


Because I'm a shareholder of GTBANK and I'm a government official so GTBANK should not take contract from the government?
People like you are the problem of this country because you are even worse than the thieves in government

1. GT is a listed company and not a private company
2. You are not the founder and a major shareholder of GT.

The company in question is a PRIVATE company where the Minister is founder and major shareholder. The Minister is clearly a major beneficiary of the company's contracts and profits
Re: N438m Scandal: I Am A Shareholder Not Director Of The Company - Tunji-Ojo by Odogwuzack: 8:51am On Jan 09
Bobloco:


Did you resign as a shareholder as well?

The kind of questions you guys suppose to ask Obi before declaring him a saint and Messiah and leading the weak minds astray.
Re: N438m Scandal: I Am A Shareholder Not Director Of The Company - Tunji-Ojo by Odogwuzack: 8:52am On Jan 09
princeade86:
and as a share holder, he won't pray for the company to move forward. Company he created himself? Continue fooling yourself. If not because we don't have government and law.

By this your logic, then Obi should die in prison.
Re: N438m Scandal: I Am A Shareholder Not Director Of The Company - Tunji-Ojo by edogu(m): 8:52am On Jan 09
I don't think that's a problem. The problem should be whether the company ( including the amount of shares) was part of assets declared by him before his appointment.

If not, he's culpable.
Re: N438m Scandal: I Am A Shareholder Not Director Of The Company - Tunji-Ojo by nairalanda1(m): 8:54am On Jan 09
The fact that the man is a shareholder reeks of conflict of interest really.
Re: N438m Scandal: I Am A Shareholder Not Director Of The Company - Tunji-Ojo by AerialMapper: 8:56am On Jan 09
Weak rebuttal!!

You still have an interest in the company and you cannot tell anyone with half a brain cell that the company was awarded the contract based on merit alone! In fact, it is your involvement with the company that got it the contract

Simple!!!!!

1 Like

Re: N438m Scandal: I Am A Shareholder Not Director Of The Company - Tunji-Ojo by Odogwuzack: 9:00am On Jan 09
DeLaRue:
A company you founded and in which you continue to be shareholder secured a huge contract from another ministry in the same Government in which you are currently serving as a minister

And your defense is ... oh, but I am no longer a Director of the company, I am only a shareholder grin undecided

As a shareholder, you are a beneficiary of the contract. That is the koko. Whether or not you're a director is irrelevant. This is not allowed anywhere, exceptmay be Nigeria. It is a straight forward sacking offence.

Is the Minister saying that if he finds that the permanent secretary in his ministry got a large contract from the ministry through a company the PS owns with perhaps his wife, the Minister will say, ah well, since the PS is only a shareholder and not a director, everything is fine?

Foreign observers must be laughing their heads off at this, or more appropriately shaking their heads in disgust at the level of insane corruption in Nigeria.

Has the Minister never had of conflict of interest and abuse of office.

And how on earth can he say he was not aware the company bid for the contract. He must think Nigerians are fools.

If this matter is investigated properly, and the government is truly serious, this man will be gone with Ms Edu and the other lady. No ifs, no buts.





It is now that many of you are getting to understand why every reasonable person believe that Obi would have rot in jail in saner clime.

But Tunji-Ojo's case is even better because he's not the one that awarded the contract.
Re: N438m Scandal: I Am A Shareholder Not Director Of The Company - Tunji-Ojo by showwiggy: 9:01am On Jan 09
MT:


Stop making irrelevant references.

Your Donald Trump committed 3400 conflict of interest, as a sitting President and they were well documented by the watch dog (https://www.google.com/amp/s/www.forbes.com/sites/andrewsolender/2020/09/24/watchdog-report-cites-3400-conflicts-of-interest-during-trump-presidency/amp/)

Is ethic alien to Nigerians?

Why you guys don't seem to understand that ethical standard was broken here was beyond me


In as much as he's not involved in the management, nor his he a director,no conflict of ethic broken,don't say what you don't know.why do you think Trump stepped down from the management of his company and place his children to run it?and mind you,he was still a shareholder.go make your research.
Re: N438m Scandal: I Am A Shareholder Not Director Of The Company - Tunji-Ojo by Odogwuzack: 9:03am On Jan 09
AerialMapper:
Weak rebuttal!!

You still have an interest in the company and you cannot tell anyone with half a brain cell that the company was awarded the contract based on merit alone! In fact, it is your involvement with the company that got it the contract

Simple!!!!!

Did he award the contract by himself?

So what should we do to a siting governor awarded directly to his own company??

Unfortunately that governor is some persons' Messiah today lol.
Re: N438m Scandal: I Am A Shareholder Not Director Of The Company - Tunji-Ojo by seunmsg(m): 9:03am On Jan 09
LordAdam16:


Yes, he said that.
But SR reportage with screenshots of the current details as of time of writing clearly showed the CAC identifying him as a director, alongside his wife. Here is the link - https://saharareporters.com/2024/01/08/how-company-owned-tinubus-interior-minister-olubunmi-tunji-ojo-got-n438million

Bear in mind that the entry was updated as recently as November 2023. So, if he did in fact resign his executive position in the company in 2019, ideally, it should be reflected in the public records.

The Nigerian civil service is notoriously negligent, so he may in fact be correct, and the error may be from whichever department is in charge of updating CAC records. But that calls for a detailed investigation. If there's to be an investigation, precedence dictates Tinubu suspends him as well.

Tinubu opened a can of worms by suspending Betta Edu. Everyone in his government will get a suspension if their activities comes to light. And they likely will if the dominoes continue to fall. It'll be a circular firing squad as no one will opt to go down alone.

-Lord

That CAC has not updated their website is not the minister’s fault. What’s most important is that the minister has the certified truth copy of the CAC approval confirming his resignation from the company in 2019. You can take up CAC on their internal processes if you want.

3 Likes

Re: N438m Scandal: I Am A Shareholder Not Director Of The Company - Tunji-Ojo by Paramount01(m): 9:07am On Jan 09
kingsways:


You are even worse than that thief because people like you are a bigger problem to society


you see nothing wrong in a public office holder channeling fraudulent contracts to a company they are founder and major shareholder, cover your face in shame




Are you normal at all? Think before you write, because I am public holder the company I have share with should not bid for any contract abi, because I have share in union bank, Govt should not do busines with them again. Pls be wise, he has nilot committed any offence against the law
Re: N438m Scandal: I Am A Shareholder Not Director Of The Company - Tunji-Ojo by AerialMapper: 9:07am On Jan 09
Odogwuzack:


Did he award the contract by himself?

So what should we do to a siting governor awarded directly to his own company??

Unfortunately that governor is some persons' Messiah today lol.


My post was for people with functional brain cells. I actually stated it clearly in my post.

1 Like

Re: N438m Scandal: I Am A Shareholder Not Director Of The Company - Tunji-Ojo by Odogwuzack: 9:10am On Jan 09
maasoap:

I don't understand why you guys always like to ruin beautiful contributions with this line!

Because they are very clueless and unintelligent. Their saving grace is insults and broke shaming those that are better than their lineage.

1 Like

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