Everybody keeps saying Tinubu owns LCC, but I've seen no evidence to support this assertion. Are Nigerians just engaging in their favorite pastime of unintelligently peddling unsubstantiated rumors?

Below is a presetation I found on the profile and shareholders of LCC,

http://www.slideboom.com/presentations/126562/Lagos-Concession-Company-(LCC)-Presentation

In 2006, he "allocated" 1500 hectares of prime land in Ibeju-Lekki, worth roughly N75b to ARM, one of the "partners" in LCC as Lagos State's contribution to the financing of the toll road. ARM would then use that land as collateral for the following loans:

$80m from Stanbic IBTC
$80m from UBA
$80m from ADB
$80m from Standard Bank of South Africa

Also, while Tinubu was governor, he also gave $42m from the State's Treasury to LCC, thus making the road an entirely state funded project! LCC has not put down a kobo of their own money in this project, yet they're allowed to toll it for thirty years, vide an agreement to that effect signed with them on behalf of Lagos State by Bola Ahmed Tinubu! Pray, who is this fraud intended to benefit?

Any evidence that he doesn't own LCC

Where is the evidence that 1500 hectares were allocated to ARM and is linked to the LCC in any way?

ARM has property development as part of its portfolio, so it is a bit lazy to simply conclude that any land allocaed to ARM is related to this road project without presenting evidence.

djustice:

In 2006, he "allocated" 1500 hectares of prime land in Ibeju-Lekki, worth roughly N75b to ARM, one of the "partners" in LCC as Lagos State's contribution to the financing of the toll road. ARM would then use that land as collateral for the following loans:

$80m from Stanbic IBTC
$80m from UBA
$80m from ADB
$80m from Standard Bank of South Africa

Also, while Tinubu was governor, he also gave $42m from the State's Treasury to LCC, thus making the road an entirely state funded project! LCC has not put down a kobo of their own money in this project, yet they're allowed to toll it for thirty years, vide an agreement to that effect signed with them on behalf of Lagos State by Bola Ahmed Tinubu! Pray, who is this fraud intended to benefit?

Any evidence that he doesn't own LCC

Guy, you simply typing this does not constitute evidence. Please post any evidence you have to back up your claims.