Toyin Subair, Fashola Involved

The loss of the English Premier League viewing rights is threatening to sweep away the Fashola administration from office. Indications are that some prominent members of the State House of Assembly are about to initiate investigations into allegations that HITV was established with N1 billion of Lagos State government funds. Further allegations indicate that $25 million of Lagos State funds have been lost through JP Morgan, the international investment bank.

It could have been worse. Some senior officials in the government are alleged to have made the money available to HITV to help their recent failed bid for the rights to broadcast English Premier League games in Nigeria for the next three years. It was part of a deposit of $40 million made by HITV, which they cannot recover because they failed to pay the balance of $60 million within the stipulated time. Lagos State was also prepared and had in fact made arrangements for the balance to be paid, but due to delays in the banking system, it did not get there on time, and DSTV stepped in with the full bid amount, thus executing a major coup in the history of African broadcasting.

It would appear from the foregoing that HITV have an uphill task in the years to come, in their struggle to retain their existing subscribers and indeed, recruit more.

For Fashola, the urbane and suave young governor, this may be one scandal too many, following on from the issue of collapsing multi-billion naira roads, and alleged involvement in the sale of the popular Lekki expressway to companies in which he and the previous governor, Bola Tinubu, have financial interests.

Labadaba or what is the name again. . . . Don't you think you sound pretty pathethic! HiTV scam Abeg go and eat pupu!

PapaBrowne:

Labadaba or what is the name again. . . . Don't you think you sound pretty pathethic! HiTV scam Abeg go and eat pupu!

Mr browne, or whatever it is you call yourself, your blissful ignorance is what will kill you in the end. This is a statement of fact. As we speak, some REALLY senior Lagos State government officials are running from pillar to post like headless chickens. This money is real. The HITV bid was real. Their loss of the rights was real, and Fashola/Tinubu's FINANCIAL support for HITV is equally real.

The money REALLY IS GONE, and I'm not trying to make anybody unpopular. In the next few months, the whole thing will become public knowledge. I really hope you are not a Fashola supporter, because this issue will give you cardiac arrest, because it will prove what some of us have always known: Fashola as an insider in the Tinubu government, helped Tinubu to perfect all his corrupt scams, and arranged for himself too. Mr. Clean is actually Mr. Stinky!

@ Labalaba ", the issue of collapsing multi-billion naira roads, and alleged, "
please where are these collapsing roads? I'm a bit confused here.

labalaba4:

Mr browne, or whatever it is you call yourself, your blissful ignorance is what will kill you in the end. This is a statement of fact. As we speak, some REALLY senior Lagos State government officials are running from pillar to post like headless chickens. This money is real. The HITV bid was real. Their loss of the rights was real, and Fashola/Tinubu's FINANCIAL support for HITV is equally real.

The money REALLY IS GONE, and I'm not trying to make anybody unpopular. In the next few months, the whole thing will become public knowledge. I really hope you are not a Fashola supporter, because this issue will give you cardiac arrest, because it will prove what some of us have always known: Fashola as an insider in the Tinubu government, helped Tinubu to perfect all his corrupt scams, and arranged for himself too. Mr. Clean is actually Mr. Stinky!

very soon someone will come and post how fashola was involved in Flower scams,dat involved planting of flowers worth "billions" instead of building roads

labalaba4:

Mr browne, or whatever it is you call yourself, your blissful ignorance is what will kill you in the end. This is a statement of fact. As we speak, some REALLY senior Lagos State government officials are running from pillar to post like headless chickens. This money is real. The HITV bid was real. Their loss of the rights was real, and Fashola/Tinubu's FINANCIAL support for HITV is equally real.

The money REALLY IS GONE, and I'm not trying to make anybody unpopular. In the next few months, the whole thing will become public knowledge. I really hope you are not a Fashola supporter, because this issue will give you cardiac arrest, because it will prove what some of us have always known: Fashola as an insider in the Tinubu government, helped Tinubu to perfect all his corrupt scams, and arranged for himself too. Mr. Clean is actually Mr. Stinky!

No Mr Labalaba! It's obvious your hatred for Fashola is compounding your ignorance to a point of surreal bliss. Everybody knows the HiTV bid was real! What I don't get is what makes it a scam in your thinking??
Plus it isn't news and there is nothing wrong with Lagos state Govt investing $25 million in what should have been a profitable venture. That is on the stupid premise that your story has any form of credibility.

Labalaba, the people love Fashola. There is nothing you can do to stop him. No amount of smear would change opinions!The man is here to stay. Deal with it!!

Emmy Boy:

@ Labalaba ", the issue of collapsing multi-billion naira roads, and alleged, "
  please where are these collapsing roads? I'm a bit confused here.

Please click the link below: http://pmnewsnigeria.com/2010/06/22/lagos-n5-billion-lasu-iba-road-collapses/comment-page-1/#comment-8539

Less than two years after it was built, a portion of the over N5 billion LASU-Iba road built by the Lagos State Government has collapsed, leading to heavy traffic gridlock in the area.
A portion of the road from LASU towards Igando at Agboroko and Nigerian Army Officers’ Village bus stop had collapsed after a heavy downpour at the weekend.
Heavy traffic gridlock was noticed to and from LASU all throughout the day as motorists groan and spent hours in hold up occasioned by the collapse of the road, thus, making the lane from Iba to Igando impassable.
Officials of the Lagos State Traffic Management Authority, LASTMA and the Federal Road Safety Corps had a harrowing experience in controlling traffic on the ever busy route.
The contract for the road was given to the China Civil Engineering and Construction Company, CCECC and the construction of a bridge.   The road was barely two years old before it collapsed on Sunday night.        Motorists who took that route were trapped in the traffic for hours.
Those who could make a u-turn had to do so at every available place to escape from the traffic jam that  lasted throughout yesterday, while motorists who could not turn were trapped for several hours.
Hundreds of Lagosians gathered at the failed  portion of the road, wondering what could have happened to the newly constructed road to have collapsed so soon.
The road collapsed, leaving  a gaping hole across it.
“It happened not too long before I got to the place and luckily there was no vehicle at the spot or commercial motorcycle,” said an eye witness, Mr. Tunde Sulaimon.
Another resident in the area said that “The heaps of refuse and used plastic bottle water inside the hole indicates that the road has been wearing at that portion for long. When it could no longer withstand the pressure of the torrential rain on Sunday, it caved in.
“The fear now is that we do not know whether there are several other places like that on the road that can fail in the nearest future.”
P.M.NEWS observed that many commuters resorted to trekking as  the vehicles they boarded was stuck in  the traffic gridlock.
They called on Governor Babatunde Fashola to do something urgent about the road in order to alleviate the plight of the people.
In the next few days, many Lagosians will still experience traffic gridlock in the area as the failed portion had not been fixed by the state government.
As a result of the traffic gridlock, transportation fares charged by commuter bus drivers  went up. The drivers now charged between N150 to N200 from a trip from Ikotun and Iyana-Ipaja to Iyana-Iba instead of the normal N100 fare.
LASTMA officials, the police and the Federal Road Safety Corps were mobilised immediately the incident happened and they went to the scene to control the chaotic traffic situation

PapaBrowne:

No Mr Labalaba! It's obvious your hatred for Fashola is compounding your ignorance to a point of surreal bliss. Everybody knows the HiTV bid was real! What I don't get is what makes it a scam in your thinking??
[size=20pt]Plus it isn't news and there is nothing wrong with Lagos state Govt investing $25 million in what should have been a profitable venture[/size]. That is on the silly premise that your story has any form of credibility.

Labalaba, the people love Fashola. There is nothing you can do to stop him. No amount of smear would change opinions!The man is here to stay. Deal with it!!

The highlighted sentence demonstrates clearly that you are one of those alleged by Steve Ayorinde to be on the payroll of Fashola to help launder his image:

http://www.saharareporters.com/component/content/article/139-sr-bloggers/5412-dirty-war-over-money-tears-punch-apart-as-editor-opens-can-of-worms-on-multi-million-naira-corruption-scandal.html

Please click the link above to see how Fashola corrupted and continues to corrupt an ever available media.

My love for Fashola has nothing to do with the media. It has all to do with the actions I see on ground in Lagos. Lagos is transforming at a pace never witnessed in decades. I will be very glad to be on Fashola payroll to help launder his image. Interestingly, I will gladly do it for free.

I know your type. You are an enemy of progress. Fashola will continue to soar higher and higher, while your financier would continue to loose his money paying folks like you to help him fight Fashola.

labalaba4:

The loss of the English Premier League viewing rights is threatening to sweep away the Fashola administration from office. Indications are that some prominent members of the State House of Assembly are about to initiate investigations into allegations that HITV was established with N1 billion of Lagos State government funds. Further allegations indicate that $25 million of Lagos State funds have been lost through JP Morgan, the international investment bank.

It could have been worse. Some senior officials in the government are alleged to have made the money available to HITV to help their recent failed bid for the rights to broadcast English Premier League games in Nigeria for the next three years. It was part of a deposit of $40 million made by HITV, which they cannot recover because they failed to pay the balance of $60 million within the stipulated time. Lagos State was also prepared and had in fact made arrangements for the balance to be paid, but due to delays in the banking system, it did not get there on time, and DSTV stepped in with the full bid amount, thus executing a major coup in the history of African broadcasting.

It would appear from the foregoing that HITV have an uphill task in the years to come, in their struggle to retain their existing subscribers and indeed, recruit more.

For Fashola, the urbane and suave young governor, this may be one scandal too many, following on from the issue of collapsing multi-billion naira roads, and alleged involvement in the sale of the popular Lekki expressway to companies in which he and the previous governor, Bola Tinubu, have financial interests.

Yes the road collapsed as you have shown here again, thats good providing your argument with facts .excellent
But the company that built the road would repair the "collapsed" road FREE OF CHARGE without alausa paying a kobo and it is actually to the sum of 150 million naira exactly $1million,
And to be perogative, last week in one of the print newspapers i saw roads that collapsed in china about 5 and also roads collapses in US even bridges you cannot blame US or China,
But about the Hitv scam i didnt see a source with your post and if i see this in 2 or 3 newspapers or their online edition i will have to believe 100% and condemn Lagos and its gov

xterra2:

Yes the road collapsed as you have shown here again, thats good providing your argument with facts .excellent
But the company that built the road would repair the "collapsed" road FREE OF CHARGE without alausa paying a kobo and it is actually to the sum of 150 million naira exactly $1million,
And to be perogative, last week in one of the print newspapers i saw roads that collapsed in china about 5 and also roads collapses in US even bridges you cannot blame US or China,
But about the Hitv scam i didnt see a source with your post and if i see this in 2 or 3 newspapers or their online edition i will have to believe 100% and condemn Lagos and its gov

Sorry to burst your bubble, but did you read the allegations of Steve Ayorinde? This is the only medium now (internet) that is relatively free of the corrupting influence of the AC criminal gang, of which Fashola is the deputy leader. The conventional media houses have been compromised, with the exception of one or two media groups, therefore, you will wait long before you read this stuff on their pages. This is HOT, incontrovertible inside information, and we have EVIDENCE!!!

Let us see if the EFCC ignore this, and we will know if they've been compromised too. Mr. President, I know you visit this site too once in a while. I hope you will take action this time and let your people at the NIA investigate this. It is not hot air sir. It is VERY REAL and undeclared. The initial seed money to start off HITV was also sourced from Lagos State. Unfortunately, this one, they've covered their tracks. But the EPL $25 million is fresh. Just contact J.P. Morgan and you'll get the information, through the usual channels sir.

The HiTV deal is no secret. It was hatched several months back when Toyin Subair, the owner of HiTV approached the Fashola Govt for financial support for the bid. In exchange, he promised the govt free propaganda and media support in preparation for the elections. HiTV was to make it's airwaves and in particular the premier league channels available for Fashola for the 2011 elections

You can all see the recklessness and stupidity of this guy-Fashola. He is mortgaging our future and wasting our tax money on a venture that has little or no bearing on the life of Lagosians.

With collapsing roads, dilapidated schools, flooded streets, growing slums, homelessness of his people, joblessness of youths etc, this guy is busy throwing good money after a bad venture.

A senseless and stupid act indeed.

The paid agents on nairaland can continue to expose their small minds, the rest of us know better and in good time, we shall make Fashola, Tinubu and their thieving gangs pay for their misdeeds

Thank God its collapsing in his face

labalaba4:

Please click the link below: http://pmnewsnigeria.com/2010/06/22/lagos-n5-billion-lasu-iba-road-collapses/comment-page-1/#comment-8539

Less than two years after it was built, a portion of the over N5 billion LASU-Iba road built by the Lagos State Government has collapsed, leading to heavy traffic gridlock in the area.

Tinubu's Administration awarded this contract and it was started during is tenure!

Of course! DSTV would pay even more than that amount without even feeling a pinch. The company that had sole rights for broadcasting the 2010 FIFA World Cup?
This shows clearly the benefits of a Country organising themselves in the first place before we can even move forward in any aspect. Did you see how organised they were?
Imagine a private TV Company using a State's Civil Servants' salaries and benefits to collect broadcasting rights and definitely not for the People's profit.


Naija wants to use billions of naira to celebrate Independence, meanwhile doctors have been on strike for how many weeks?

OP this thread looks like a tired attempt to smear Fahsola and the AC. There is nothing here that indicates that HiTV was a scam. C'mon man we expect better from you.


_{And btw I'm not an AC member.}

labalaba4:

. Mr. President, I know you visit this site too once in a while. I hope you will take action this time and let your people at the NIA investigate this. It is not hot air sir. It is VERY REAL and undeclared. The initial seed money to start off HITV was also sourced from Lagos State. Unfortunately, this one, they've covered their tracks. But the EPL $25 million is fresh. Just contact J.P. Morgan and you'll get the information, through the usual channels sir.

why not go ahead and send a letter or rather a fax to Goodluck Jonathan.

Bawss1:

OP this thread looks like a tired attempt to smear Fahsola and the AC. There is nothing here that indicates that HiTV was a scam. C'mon man we expect better from you.
_{And btw I'm not an AC member.}

dont mind the loser.
every business transaction that goes wrong is now linked to Fashola.

labalaba4:

For Fashola, the urbane and suave young governor, this may be one scandal too many, following on from the issue of collapsing multi-billion naira roads, and alleged involvement in the sale of the popular Lekki expressway to companies in which he and the previous governor, Bola Tinubu, have financial interests.

I know of the collapse of a section of the LASU/Iba road, could you please tell us the other newly constructed roads that have failed?

You call the Lekki Expressway a sale? Definitely, you are speaking from a strong point of ignorance. Even at a time that the Federal Govrnment allowed Bicourtney to build MMA2, to operate it for a number of years to recoup their money and then hand over the structure, right now, Lagos/Ibadan Expressway has been given to the same company to rebuild and moderninse, can we now say the FG has sold these two entities to Bicourtney?

I advice that you go and get some knowledge and stop displaying your pathetic ignorance here all in the name of pull-Fashola-down at all cost.

So

baslone:

Tinubu's Administration awarded this contract and it was started during is tenure!

Why must you LIE SO UNASHAMEDLY? Can you not READ ARE YOU SUFFERING SO SERIOUSLY FROM COMPREHENSION DEFICIT THAT you cannot understand the first sentence in the quoted article Let's say the journalist was lying, did Fashola lie against himself when he caused a Prospectus to be published in 2008 which stated that the contract would be signed on 3rd December 2008?

SO THAT YOU AND THE OTHER BIASED FASHOLA RENT-A-CROWD CAN SHUT UP PERMANENTLY, AND FOR YOUR FURTHER EDUCATION AND EDIFICATION, PLEASE FIND ATTACHED HEREWITH A COPY OF SAID PROSPECTUS :

http://www.pamicol.com/uploads/latestoffering/Lagos%20state%20Bond.pdf


AWON OLOSHI AKOTILETA OMO!!!

desgiezd:

I know of the collapse of a section of the LASU/Iba road, could you please tell us the other newly constructed roads that have failed?

You call the Lekki Expressway a sale? Definitely, you are speaking from a strong point of ignorance. Even at a time that the Federal Govrnment allowed Bicourtney to build MMA2, to operate it for a number of years to recoup their money and then hand over the structure, right now, Lagos/Ibadan Expressway has been given to the same company to rebuild and moderninse, can we now say the FG has sold these two entities to Bicourtney?

I advice that you go and get some knowledge and stop displaying your pathetic ignorance here all in the name of pull-Fashola-down at all cost.

It is your ignorance and arrant stupidity that is clearly on display here for the whole world to see. Let me ask you a hypothetical question:

If you buy a lease in a flat for 30 years, and are able to collect rents on that flat for the duration of 30 years, are you exercising a right of ownership for those 30 years or not

If you're exercising a right of ownership, does the said property not belong to you for the period of 30 years?

In the case of the expressway, the consideration allegedly supplied by LCC is the alleged expansion by one lane on either side of 23 km of an over 60km road at the cost of N2 billion per km.

Their ownership of the road arises from their exclusive right to collect tolls on said road for thirty years. I make bold to say that they would have recouped N50 billion within 2 years, going from the fact that they have provided no alternative. What am I saying sef "They" is actually Bola Ahmed Tinubu and Babatunde Raji Fashola.

And some buffoons will come here to come and chat rubbish about what they know nothing about. Yeye dey smell for all of una nyansh!!

labalaba4:

It is your ignorance and arrant stupidity that is clearly on display here for the whole world to see.

Whatever rubbish you like, say it, it is your mouth but I aint gonna engage you in throwing insults. It is not my style and I wont allow you to push me into it.

I still stand by what I said. THAT ROAD WAS NOT SOLD TO ANYBODY

Mr Lala, I hope you are not MAD!!!

there is nothing wrong lagos state invest in company. They said they borrow them the money Ok. then go return the money.  state have to make investment into private company if they are going to be profitable. Ontario govt gives up to $10 million to company in canada.   

State have to keep profitable business in thier state, so that they can rip up the profit in taxes. If lagos state see a good business, they should buy share or invest in it because oil revenue is not going to be there forever.  So state have to invest in private company that makes money, so that they can get revenue from them and also taxes those company at the same time.

This is what they do in canada. If you dont keep business in your area, someone else who see the need in that business and they would relocate to that state or country. 

But it most have paper work. Noone would shut down his business where he would make millions for just because you want to give them minimunm wage or because some people had invest in a company. then they should get thier invest out and bring it to the right people that can make them money.  Everybody goes for his millions. Everybody bear it father name.  You cant go and buy a private jet for pastor Adeboye (any cheque in his name goes to iyan), and expect me to stop what would benefit me and make me millions because of that. You see in business, everybody bears his father name. You write the cheque in my name.

Is the same with lagos investment, if the names of the owner do not show lagos state, someone is in trouble.

Is the same with lagos investment, if the names of the owner do not show lagos state, someone is in trouble.

Becomrich0:

Is the same with lagos investment, if the names of the owner do not show lagos state, someone is in trouble.

This is precisely what I'm talking about. Moreover, Lagos State Government already has LTV 8, which they could have put the $25 million for a complete turnaround, maybe even put them on a satellite platform. But the lazy gits had to pocket the cash and use HITV to launder it. They'll probably be scrambling around now trying to forge the paperwork to make it look like they bought shares for Lagos State Government in HITV, when actually the reverse is the case.

Somebody must go to jail for this. They actually gave Toyin Subair his initial seed money of more than N1 billion, again from Lagos State Government coffers, without declaring Lagos State's interest in the firm, or buying any actual shares for Lagos State.

labalaba4:

So

Why must you LIE SO UNASHAMEDLY? Can you not READ ARE YOU SUFFERING SO SERIOUSLY FROM COMPREHENSION DEFICIT [/b]THAT you cannot understand the first sentence in the quoted article Let's say the journalist was lying, did Fashola lie against himself when he caused a Prospectus to be published in 2008 which stated that the contract would be signed on 3rd December 2008?

[b]SO THAT YOU AND THE OTHER BIASED FASHOLA RENT-A-CROWD CAN SHUT UP PERMANENTLY, AND FOR YOUR FURTHER EDUCATION AND EDIFICATION, PLEASE FIND ATTACHED HEREWITH A COPY OF SAID PROSPECTUS :

http://www.pamicol.com/uploads/latestoffering/Lagos%20state%20Bond.pdf


AWON OLOSHI AKOTILETA OMO!!!

SEEING THEY SAY IS BELIEVING. I don't need to be reading
any of your cooked up blogs and catalogues. I'm talking reality
here not those stupid links.

The last time I passed that road, there were heavy machines on GROUND
and serious work was already going on channeling of water . And this was
before Fashola became the governor of the state.

If you are confused, would you say the Permanent Secretary of Works
and Infrastructure Ministry is also confused.

You can check out the link below.



The five-man ad-hoc Committee set up by the Lagos state House of Assembly to investigate the recently collapsed LASU-Iba road has ordered the Ministry of Works and Infrastructure to forward the project’s contract documents to it.

Chairman of the Committee, Hon. Mudashiru Obasa gave the order yesterday at the maiden meeting with officials of the Ministry, Chairman State Tenders Board and the contractor, CCECC, handling the project.

According to Obasa, before the committee can embark on investigation it requires documents and other relevant agreement papers on the road.

He stressed further that it is only when the committee is in possession of the documents that it can employ the services of consultants to take a closer look at the whole arrangement.

He disclosed that the state government would not fold its hands and watch tax payer’s money being mismanaged.

While debunking insinuations that the House was witch hunting anybody, Obasa said, "as lawmakers we are here to protect the interest of Lagosians and to make sure that taxes paid by them is justly expended. If within a year or two the project has failed, it behooves the House to investigate to forestall future occurrence".

According to him, the LASU-Iba road contract was part of the reasons True Face of Lagos petitioned the House, "so we are back to the same spot, this is strictly the business of the House and I can assure you that we have good intentions", Obasa told journalists.

He also said that if at the end of its investigation the company is found guilty it would be made to shoulder the cost of repairing the road and the House would also instruct the ministry to stop giving the company contract.

Another member of the committee, Hon. Dayo Fafunmi chided the contractor for doing a shoddy job, accusing it of using substandard materials.

"The road is supposed to last 50 years if it is properly done and now less than a year part of the road has collapsed due to substandard materials," Fafunmi said.

In his response, the Permanent Secretary of Works and Infrastructure Ministry, Mr. Wasiu Olokunola said the ministry awarded contract for the road in 2006 during the tenure of former governor, Asiwaju Bola Tinubu for N6billion which was reviewed upwards to N10billion in 2009 when the state government considered the scope of the work on the road.

He however, promised that contract agreement on the road would be provided to the committee, adding that, "the ministry did what ought to be done before awarding the contract to CCECC and soil sample was also carried out".

http://thenationonlineng.net/web3/politics/6398.html

I have got better things to do. You are simply a waste of time!!

Mr Labalaba!!!!

This is precisely what I'm talking about. Moreover, Lagos State Government already has LTV 8, which they could have put the $25 million for a complete turnaround, maybe even put them on a satellite platform. But the lazy gits had to pocket the cash and use HITV to launder it.

Somebody must go to jail for this. They actually gave Toyin Subair his initial seed money of more than N1 billion, again from Lagos State Government coffers, without declaring Lagos State's interest in the firm, or buying any actual shares for Lagos State.

Please read the highlighted portion all over again and see if there is any logic with it and the issue on ground. As becomerich has said, there is nothing bad in it if govt in trying to encourage entrepreneurship assists them. It is for the good of the economy

They'll probably be scrambling around now trying to forge the paperwork to make it look like they bought shares for Lagos State Government in HITV, when actually the reverse is the case.

Will a right thinking person (a lawyer for that matter) give out money without doing a strong paperwork? This is not possible. I do not know the amount of business engagement that you have done but you see sometimes in life one make certain business judgements and things go awry. Do you give up at that time? No is the answer.

I am not here castigating or supporting Fashola but let's try to apply some benefit of doubts in accessing an individuals. He might not be completely clean but man mi try an Alao Akala and see the difference.

From your comments so far even if your genuine intentions is for probity, you have applied emotions into it which has eroded your initial intention. Hence the multitude of enemies you have made on the thread. Please let's also tone down abusive words. This is supposed to be an enlightened forum. Let's try to keep it as one. We have a lot to gain from each other

God bless us all. Amin

baslone:


SEEING THEY SAY IS BELIEVING. I don't need to be reading
any of your cooked up blogs and catalogues. I'm talking reality
here not those silly links.

The last time I passed that road, there were heavy machines on GROUND
and serious work was already going on channeling of water . And this was
before Fashola became the governor of the state.

If you are confused, would you say the Permanent Secretary of Works
and Infrastructure Ministry is also confused.

You can check out the link below.



The five-man ad-hoc Committee set up by the Lagos state House of Assembly to investigate the recently collapsed LASU-Iba road has ordered the Ministry of Works and Infrastructure to forward the project’s contract documents to it.

Chairman of the Committee, Hon. Mudashiru Obasa gave the order yesterday at the maiden meeting with officials of the Ministry, Chairman State Tenders Board and the contractor, CCECC, handling the project.

According to Obasa, before the committee can embark on investigation it requires documents and other relevant agreement papers on the road.

He stressed further that it is only when the committee is in possession of the documents that it can employ the services of consultants to take a closer look at the whole arrangement.

He disclosed that the state government would not fold its hands and watch tax payer’s money being mismanaged.

While debunking insinuations that the House was witch hunting anybody, Obasa said, "as lawmakers we are here to protect the interest of Lagosians and to make sure that taxes paid by them is justly expended. If within a year or two the project has failed, it behooves the House to investigate to forestall future occurrence".

According to him, the LASU-Iba road contract was part of the reasons True Face of Lagos petitioned the House, "so we are back to the same spot, this is strictly the business of the House and I can assure you that we have good intentions", Obasa told journalists.

He also said that if at the end of its investigation the company is found guilty it would be made to shoulder the cost of repairing the road and the House would also instruct the ministry to stop giving the company contract.

Another member of the committee, Hon. Dayo Fafunmi chided the contractor for doing a shoddy job, accusing it of using substandard materials.

"The road is supposed to last 50 years if it is properly done and now less than a year part of the road has collapsed due to substandard materials," Fafunmi said.

In his response, the Permanent Secretary of Works and Infrastructure Ministry, Mr. Wasiu Olokunola said the ministry awarded contract for the road in 2006 during the tenure of former governor, Asiwaju Bola Tinubu for N6billion which was reviewed upwards to N10billion in 2009 when the state government considered the scope of the work on the road.

He however, promised that contract agreement on the road would be provided to the committee, adding that, "the ministry did what ought to be done before awarding the contract to CCECC and soil sample was also carried out".

http://thenationonlineng.net/web3/politics/6398.html

I have got better things to do. You are simply a waste of time!!

I mentioned earlier that someone's stupidity is on display in the marketplace for the whole world to see. I apologise for the inaccuracy. It's the stupidity of an increasing number of people. Mr. Baslone, please, please read the document in the attached link and see when the road contract was actually awarded, according to a Lagos State government document. Siddon there dey listen to some yeye overfed and overbribed permanent secretary, who was most likely a member of the AC gang before he was appointed to that position. READ IT O, ESPECIALLY PAGE 41, AND DON'T DIE OF IGNORANCE. ODE!!

http://www.pamicol.com/uploads/latestoffering/Lagos%20state%20Bond.pdf

baslone:

Look at this man!!

How do you expect me to read and and believe
any link or any thing you post.

Something I saw with my korokoro eyes even though
it was by accident. My guy i ain't believing shi*t.

U lost out man!!!

You can eat SHI*T for all I care. I didn't actually expect you to read it, since I know you don't actually have the mental capacity. You're one of those black men they spoke about when they said "If you want to hide something from black people, write it down in a book".

You're so predictable, it's PHUCKING unreal!!! Who cares what you believe JUST GO BACK TO YOUR VILLAGE SO THEY CAN CELEBRATE THE RETURN OF THEIR EEDEEOHT!!! OLORI BURUKU, BURODA APA!!

@ labalaba

I share your sentiments. But can an investment gone awry be called a scam? The same noise was made about the state's investment in Econet and reports have it that Lagos State made over N15B on that investment. Being based in Lagos, one is happy about the multiplier effects of such investments.

But was the investment well managed? Was Lagos State represented on the board? How come the board was not able to do anything until they lost their 'selling point' ? How come Toyin Subair operated like a czar such that they couldn't pay up the balance of the EPL fees until they lost it?

Why blame the banks if you have the money or are they relying on loans from these banks which procedure of course takes a lot of paperwork? And must they wait until the last minute before approaching the banks?

Labalaba, will love to know if you have more info, because if it is tax payers money, then we need to know.

That's precisely my point. It is taxpayers' money and it's not being declared. At least the Econet one was declared. Why have they not declared this one? Simple. They converted the money to their personal use, and Lagos State has no stake in HITV.