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N438m Scandal: I Am A Shareholder Not Director Of The Company - Tunji-Ojo - Politics (3) - Nairaland

Nairaland Forum / Nairaland / General / Politics / N438m Scandal: I Am A Shareholder Not Director Of The Company - Tunji-Ojo (19935 Views)

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Re: N438m Scandal: I Am A Shareholder Not Director Of The Company - Tunji-Ojo by Gandrova: 7:03am On Jan 09
Racoon:
Did he resigned as shareholder before taking government appointment? If not he is culpriable too. Paddy paddy government.
I don't think you understand the whole issues. Why should he resigned as a shareholder? After he tendered is resignation as one board of directors.

1 Like

Re: N438m Scandal: I Am A Shareholder Not Director Of The Company - Tunji-Ojo by Chizy12345: 7:09am On Jan 09
if tinubu sack that woman minister. you're the next. because, she will expose all the dirty deals that you're involved
Re: N438m Scandal: I Am A Shareholder Not Director Of The Company - Tunji-Ojo by intruder15(m): 7:09am On Jan 09
Racoon:
Did he resigned as shareholder before taking government appointment? If not he is culpriable too. Paddy paddy government.

It's like it is only headline you read.
Take out time to read the details as well before you post. Reason being that he addressed what you are asking.
Re: N438m Scandal: I Am A Shareholder Not Director Of The Company - Tunji-Ojo by MT: 7:10am On Jan 09
Gandrova:
I don't think you understand the whole issues. Why should he resigned as a shareholder? After he tendered is resignation as one board of directors.

You guys don't get it.

As a Minister, he is in a serious position of influence in the government and also his position within the company as a shareholder makes him a DIRECT beneficiary of the profit made through any contract.

No where in the world is this allowed, even if you are top performer.

This is a conflict of interest which makes him highly culpable.
Re: N438m Scandal: I Am A Shareholder Not Director Of The Company - Tunji-Ojo by VIKTO83(m): 7:11am On Jan 09
There's something I don't get.
If I'm a share holder with Zenith bank and Zenith bank gets involved in any issues, am I directly involved?

But if no b say Wike go match u power for power drm for Don start with him Tey Tey.
I pray they don't plot assassination on him sha.
Re: N438m Scandal: I Am A Shareholder Not Director Of The Company - Tunji-Ojo by seunmsg(m): 7:13am 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.

Absolute nonsense. The company is a going concern and a legal entity. It has the right to do business legally with both public and private entities. The company has all the rights to bid for contracts from any public entity under the public procurement act. The only ministry that a conflict of interest can be established is the Ministry of Interior where the minister has a role and influence over the procurement process. If it’s not ministry or interior, there is no wrongdoing in anyway.

2 Likes

Re: N438m Scandal: I Am A Shareholder Not Director Of The Company - Tunji-Ojo by membranus: 7:13am On Jan 09
Tunji Ojo is being smart by half. His presence in government must have influenced the granting of the contract to his erstwhile company.

1 Like

Re: N438m Scandal: I Am A Shareholder Not Director Of The Company - Tunji-Ojo by olarent: 7:15am On Jan 09
As a shareholders does that mean your company should be closed because you are now minister? The best thing is do the contract follow due process, I have a shard of 222 with Polaris bank does that mean that when I become minister the bank should seize operating or reject payment of nysc stipend?
Re: N438m Scandal: I Am A Shareholder Not Director Of The Company - Tunji-Ojo by DesChyko: 7:15am On Jan 09
It will take more than alleging he directly influenced those shares to nail the Minister. He can be a shareholder, there is no crime in that or law against that. But since he is not a director, that's a clean slate for him. The only stain there is their involvement in the Betty Edu business.

However, he must now tread carefully. Nigerians do not take too kindly to public officers' names coming up in cases involving corruption.
Re: N438m Scandal: I Am A Shareholder Not Director Of The Company - Tunji-Ojo by frog12: 7:15am On Jan 09
meaning what
his time in the house of rep don turn am to hardened criminal grin
a crook is a crook. these guys don snatch public money. see him eyes like frog own grin grin

ozo13:
Hahahah.we will allow the minister stay for now to teach those that defended peter Obi lessons that he didn't do anything wrong for investing state cash in a private business he has interest in.
The coming days will be interesting.
But I like the way the Ojo man is turning things around in his ministry.

1 Like

Re: N438m Scandal: I Am A Shareholder Not Director Of The Company - Tunji-Ojo by Tareq1105: 7:16am On Jan 09
Jking20:
Another challenge...

I think if critics continue in this line, no Nigerian would be qualified for any appointments.
Re: N438m Scandal: I Am A Shareholder Not Director Of The Company - Tunji-Ojo by Haaland21: 7:17am On Jan 09
MT:


You guys don't get it.

As a Minister, he is in a serious position of influence in the government and also a DIRECT beneficiary of the profit made through any contract.

This is a conflict of interest which makes him highly culpable.

I think you are mixing things up... As a Minister, no law forbid you from holding shares in a company especially the shares you have gotten before assuming the office.
He said it....he is not involve in the day to day running of the company.
Re: N438m Scandal: I Am A Shareholder Not Director Of The Company - Tunji-Ojo by frog12: 7:17am On Jan 09
olodo. do you know what a shareholder is??
it means he is an owner of the company.


DesChyko:
It will take more than alleging he directly influenced those shares to nail the Minister. He can be a shareholder, there is no crime in that or law against that. But since he is not a director, that's a clean slate for him. The only stain there is their involvement in the Betty Edu business.

However, he must now tread carefully. Nigerians do not take too kindly to public officers' names coming up in cases involving corruption.
Re: N438m Scandal: I Am A Shareholder Not Director Of The Company - Tunji-Ojo by frog12: 7:18am On Jan 09
did he tell you how many percentage he has
companies like these just don't get government contract like dat

Haaland21:


I think you are mixing things up... As a Minister, no law forbid you from holding shares in a company especially the shares you have gotten before assuming the office.
He said it....he is not involve in the day to day running of the company.
Re: N438m Scandal: I Am A Shareholder Not Director Of The Company - Tunji-Ojo by dfrost: 7:18am On Jan 09
olarent:
As a shareholders does that mean your company should be closed because you are now minister? The best thing is do the contract follow due process, I have a shard of 222 with Polaris bank does that mean that when I become minister the bank should seize operating or reject payment of nysc stipend?

Size of the shares matters, bruv. How we overlook certain things bothers me.

If it's fine by most people, no worries 🤣😂
Re: N438m Scandal: I Am A Shareholder Not Director Of The Company - Tunji-Ojo by Bobloco: 7:19am On Jan 09
seunmsg:


Who do you mean by resigning as a shareholder?

“The company is a limited liability company, which is a private entity. So if the company is a private entity, of course, I am still a shareholder, and to the best of my knowledge public service rule does not prohibit public officers from being shareholders.


Don't you think being a shareholder will create conflict of interests
Re: N438m Scandal: I Am A Shareholder Not Director Of The Company - Tunji-Ojo by Tareq1105: 7:20am On Jan 09
membranus:
Tunji Ojo is being smart by half. His presence in government must have influenced the granting of the contract to his erstwhile company.

In other words, the company should have closed operations just bcoz he's a minister abi?
Re: N438m Scandal: I Am A Shareholder Not Director Of The Company - Tunji-Ojo by frog12: 7:22am On Jan 09
this CROOK is being smart by half. just like that Edu adviser wey say no law has been broken. these youth ministers are even WORSE sad sad:


“The company is a limited liability company, which is a private entity. So if the company is a private entity, of course, I am still a shareholder, and to the best of my knowledge public service rule does not prohibit public officers from being shareholders.

“What public service rule says is that you cannot be a director, of which I had resigned about five years ago.
Re: N438m Scandal: I Am A Shareholder Not Director Of The Company - Tunji-Ojo by ABC101FF: 7:22am On Jan 09
The only man I thought was different. They are all the same.
Re: N438m Scandal: I Am A Shareholder Not Director Of The Company - Tunji-Ojo by Tareq1105: 7:22am On Jan 09
Bobloco:


“The company is a limited liability company, which is a private entity. So if the company is a private entity, of course, I am still a shareholder, and to the best of my knowledge public service rule does not prohibit public officers from being shareholders.


Don't you think being a shareholder will create conflict of interests

It would not except if the contract is from the Ministry of Interior where he's a minister.
Re: N438m Scandal: I Am A Shareholder Not Director Of The Company - Tunji-Ojo by MT: 7:23am On Jan 09
seunmsg:


Absolute nonsense. The company is a going concern and a legal entity. It has the right to do business legally with both public and private entities. The company has all the rights to bid for contracts from any public entity under the public procurement act. The only ministry that a conflict of interest can be established is the Ministry of Interior where the minister has a role and influence over the procurement process. If it’s not ministry or interior, there is no wrongdoing in anyway.

Do.you understand what "ethic" is all about?

You don't know every position comes with ethical standards?
Re: N438m Scandal: I Am A Shareholder Not Director Of The Company - Tunji-Ojo by frog12: 7:25am On Jan 09
government ministry na government ministry. one rule dem all dey follow

Tareq1105:


It would not except if the contract is from the Ministry of Interior where he's a minister.
Re: N438m Scandal: I Am A Shareholder Not Director Of The Company - Tunji-Ojo by Bobloco: 7:25am On Jan 09
Tareq1105:


It would not except if the contract is from the Ministry of Interior where he's a minister.

Are you serious
Re: N438m Scandal: I Am A Shareholder Not Director Of The Company - Tunji-Ojo by SmartyPants(m): 7:25am On Jan 09
Bankowner:
A shareholder benefits directly from the profit of the everyday business of a company. As long as you're in government, and the company you claim to be a shareholder in makes money from govt contracts, you're still culpable. Ignorance in law is not an excuse, there is inherent conflict of interest.

Which law was broken?

He is not a director and it was not his ministry awarding the contract. It may be unethical but not illegal.
Re: N438m Scandal: I Am A Shareholder Not Director Of The Company - Tunji-Ojo by MT: 7:26am On Jan 09
Tareq1105:


In other words, the company should have closed operations just bcoz he's a minister abi?
No.

The company shouldn't have bidded for a contract where one of his shareholders is a serving MINISTER.

It is called a conflict of interest. That is the global standard you will be held to.

Ethics should be taught as a course in our universities.

1 Like 1 Share

Re: N438m Scandal: I Am A Shareholder Not Director Of The Company - Tunji-Ojo by uniquetechng: 7:26am 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.
He owns the company as the major shareholder, there is nothing that will happen without his knowledge.
Even Radcliffe who owns just 35% stake at United will be involved in all transfer dealings, whether he resigned his directorship or not the company still belongs to him.

1 Like

Re: N438m Scandal: I Am A Shareholder Not Director Of The Company - Tunji-Ojo by MT: 7:28am On Jan 09
Haaland21:


I think you are mixing things up... As a Minister, no law forbid you from holding shares in a company especially the shares you have gotten before assuming the office.
He said it....he is not involve in the day to day running of the company.

He quoted the section of the law that suits him.

He knows he has violated one of the ethic of his position as a serving minister.

He will be shown when the time comes.
Re: N438m Scandal: I Am A Shareholder Not Director Of The Company - Tunji-Ojo by Bellotelli: 7:29am 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.




So what you are saying is that every public office holder should compel every companies they have shares with not to bid for government contracts?
If your answer is yes, then you should relocate to another planet.
Re: N438m Scandal: I Am A Shareholder Not Director Of The Company - Tunji-Ojo by blaise26abj(m): 7:30am On Jan 09
starstaz:
Tunji Ojo Too. All this young men and Ladies politicians are seriously sick in their forehead's. How can you, early,play the card of desperados in the cult of kleptomaniac in a society where everyone is projected to be Hungry and Angry. And why should you compromise standards. Since you know how to collect contract , why join them in their cult war on the table. U fall hand Egbon!

I don’t understand this rant . So you can’t have a business and go into politics ? You must give it all up because you want to serve the country ? Come on . What he has done is the standard anywhere in the world . Even Trump did that . So please cut that gentleman some slack

1 Like

Re: N438m Scandal: I Am A Shareholder Not Director Of The Company - Tunji-Ojo by Osgilliat(m): 7:30am On Jan 09
Don’t get distracted, sane Nigerians knows your worth and grateful of all your efforts to contribute to the betterment of life in Nigeria.
Insane ones are sad because of the positive results you’ve achieved.
Re: N438m Scandal: I Am A Shareholder Not Director Of The Company - Tunji-Ojo by Bellotelli: 7:33am 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?
Oga leave these people. They must look for any excuse to bring good people down.
Re: N438m Scandal: I Am A Shareholder Not Director Of The Company - Tunji-Ojo by firearcher: 7:34am On Jan 09
He didn't break any law so that fine.

However, that he won't benefit from this contract as a shareholder and founder is a lie. That he has no idea of what the company is doing can't be completely true.

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