Eriokanmi:
A shareholder in a limited liability company is also a director. The company in question isn't a PLC. The laws are clear. Good luck to him as he struggles to defend himself

LordAdam16:


E don reach Yoruba man now, e don turn "go and suspend him now".
Na una turn now, do as una like.

-Lord

seunmsg:


The part in bold is not allowed because it brings conflict of interest. The permanent Secretary is the chairman of the ministry’s tenders board so if a company he’s a shareholder of bids for contract in that same ministry, he will have to disclose it in line with public procurement act and recuse himself as the chairman of the tenders board because of conflict of interest. Again, PS are civil servants who rise from service. They are ordinarily not expected to own companies even though they can buy shares in public limited liability companies.

Political office holders are elected or appointed. The law recognizes that they were doing something before their appointment or election so they simply require them to step aside from the management of whatever business they were doing before. The law does not require the business to die or stop operating because the founder is now a political office again.


Again, Peter Obi was a shareholder in Fidelity bank before becoming governor. He did not sell his shares in fidelity bank and the bank kept doing business with Anambra state government throughout his tenure. He even brought in directors from the bank to serve as commissioners and later governor of the state. Atiku Abubakar was the largest shareholder in Intels in 1999. When he was elected as Vice President, Atiku did not sell his shares at Intels and the company worked for Federal government for the 8 years that Atiku was the vice president. So, what’s all the noise this time around? Did foreigners laugh at us when Peter Obi was investing state funds in family business?

Finally, the company in question is a legal entity distinct from the minister. The minister is the minister for interior and not the minister for humanitarian affairs. The minister for interior is not involved whatsoever in the procurement process of ministry of humanitarian affairs so there is no conflict of interest whatsoever. The company has the right to exist and do business legally with government agencies under the public procurement act in as much as no conflict of interest is involved in the process.

seunmsg:


To bigots, it’s always about tribalism and not the truth. Someone did absolutely nothing wrong and violated no single rule but he must be suspended because you hate his tribe. Tueh!

starstaz:


Conflict of interest is at play here. Inside Job contract, by the way ,are u aware of this job proposition or a slight peek. Who told you a common man like me is not interested in this kind of contract provided it is Legitimate. If you think there is nothing wrong for a sitting Minister in a govt to deep his hand in a dirty scandal like this, so be it. We see things from different angle.

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 the truth!

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?

santaclaws:



To the best of my knowledge, an LTD can have 2 to 50 shareholders, so you cannot claim that if a limited company has 20 shareholders for instance, they all have executive roles... So not all shareholders are directors in a company, whether a PLC or a limited company.

By the way, if he is involved in any way, I hope the law takes its course just like he also mentioned. The fact remains that he's the best performing minister right now and it'd be a shame to lose someone like him.

247man:


From what i read, he did resign in 2019.

Bobloco:
The biggest shareholder you mean


Then you are culpable

Kindly throw in the towel now and submit yourself at the nearest EFCC office

adioolayi:
It's really a dicey one..

This fine minister seems to have broken "public code of conduct" if there is anything like that.

It is almost impossible to say the company didn't win that contract because of his influence..the mere mentioning of his name alone can influence the decision to award that contract to this company...hence, he has technically influenced that contract

seunmsg:


The part in bold is not allowed because it brings conflict of interest. The permanent Secretary is the chairman of the ministry’s tenders board so if a company he’s a shareholder of bids for contract in that same ministry, he will have to disclose it in line with public procurement act and recuse himself as the chairman of the tenders board because of conflict of interest. Again, PS are civil servants who rise from service. They are ordinarily not expected to own companies even though they can buy shares in public limited liability companies.

Political office holders are elected or appointed. The law recognizes that they were doing something before their appointment or election so they simply require them to step aside from the management of whatever business they were doing before. The law does not require the business to die or stop operating because the founder is now a political office again.


Again, Peter Obi was a shareholder in Fidelity bank before becoming governor. He did not sell his shares in fidelity bank and the bank kept doing business with Anambra state government throughout his tenure. He even brought in directors from the bank to serve as commissioners and later governor of the state. Atiku Abubakar was the largest shareholder in Intels in 1999. When he was elected as Vice President, Atiku did not sell his shares at Intels and the company worked for Federal government for the 8 years that Atiku was the vice president. So, what’s all the noise this time around? Did foreigners laugh at us when Peter Obi was investing state funds in family business?

Finally, the company in question is a legal entity distinct from the minister. The minister is the minister for interior and not the minister for humanitarian affairs. The minister for interior is not involved whatsoever in the procurement process of ministry of humanitarian affairs so there is no conflict of interest whatsoever. The company has the right to exist and do business legally with government agencies under the public procurement act in as much as no conflict of interest is involved in the process.

Racoon:
Did he resigned as shareholder before taking government appointment? If not he is culpriable too. Paddy paddy government.

aribisala0:


It sounds fishy but when you say NOT ALLOWED

You need to educate us

NO LAW NO CRIME
Has he broken any rules
If he has not should we be making new rules to clarify things ?? Maybe

Is there a law that you can cite in Nigeria or any other country that outlaws this today??

Your analogy of permanent secretary is off key because that would be a direct conflict of interest

Being in the same government is not enough unless there is a demonstrated conflict of interest. or evidence that he influenced the award of the contract

If a lawyer becomes an Attorney general or Minister like Keyamo does that mean his Firm is no longer entitled to government work? It may sound fishy but what is needed is explicit rules not online moralizing


What is important here is to ask questions about the naturre of the contract and whether it was executed properly

A contract is not a sin or something dirty

When Tony Blair was Prime Minister. His wife was a Barrister getting government briefs. Was she to cease that because her Husband was Prime Minister

The real questions are was the contract thrown open to the public properly and did the government get value for the money paid out?

onosbaba3310:


Yes and tunji also, because you criticised obi for "saving" Anambra's money in Fidelity bank, simply because he was a share holder, na you are defending tunji😅😅

nedekid:

What has Obi got to do with this issue at hand, the wanton sharing, looting of money meant for social intervention of poor Nigerians.
Why are you easily distracted?
It seems you may be naive of the severity of the issue.

https://saharareporters.com/2024/01/08/how-company-owned-tinubus-interior-minister-olubunmi-tunji-ojo-got-n438million

Odogwuzack:


You clearly can't give what you don't have.

Odogwuzack:


It has everything to do with Obi because you Obidients suffer from selective justice.

You want to kill one thief while you defend another thief like Obi that practically did worse with your life.

kingsways:
Thief
Shareholders are the owners of a company and beneficiaries of whatever profits they make

teepain:



You make a lot of sense. One of the challenges that Nigerians have is the inability to distill issues. There is this tendency to want to crucify people based on their political affiliations. In my opinion, while it looks fishy, this man hasn't done anything wrong in my opinion except further material disclosures are made as to his involvement. Until then what we have are only suspicions, perhaps because of the antecedents of the average Nigerian politician.

chisomkachy:


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

Racoon:
Did he resigned as shareholder before taking government appointment? If not he is culpriable too. Paddy paddy government.

chisomkachy:


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

chisomkachy:


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

Bobloco:
The biggest shareholder you mean


Then you are culpable

Kindly throw in the towel now and submit yourself at the nearest EFCC office

Lastmankc:
See them,you guys are programmed like a zombie to support anything evil