HomeNEWSPresidency Defends Seyi Tinubu's Role in Lagos-Calabar Coastal Road Project Amidst Public...

Presidency Defends Seyi Tinubu’s Role in Lagos-Calabar Coastal Road Project Amidst Public Backlash


Presidency Defends Seyi Tinubu’s Role in Lagos-Calabar Coastal Road Project Amidst Public Backlash

Afor Kenneth 

The Presidency has responded to the public outcry following reports that Mr. Seyi Tinubu, son of President Bola Ahmed Tinubu is a director in the company, Hitech Construction Company Ltd awarded to execute the contract for the Lagos-Calabar coastal road.

The Presidency in a statement released on Monday asserted that Seyi Tinubu has the right to pursue his business interests both in Nigeria and globally, as long as his actions remain within legal boundaries.

Responding to Atiku’s claims, the Presidency, through Bayo Onanuga, the Special Adviser on Information and Strategy, accused Atiku of hypocrisy on various national matters. Onanuga argued that Seyi Tinubu’s association with CDK predates his father’s presidency and does not invalidate his right to pursue legitimate business ventures.

READ ALSO: Atiku Slams Tinubu, Brands 700km Lagos-Calabar Coastal Project A ‘Highway to Fraud’

Onanuga clarified that Seyi Tinubu joined CDK’s Board of Directors in 2018, more than six years ago, emphasizing his role in representing investor interests.

Onanuga expressed bewilderment at Atiku’s accusation of conflict of interest involving Tinubu in the award of the Lagos-Calabar Coastal highway contract to Hitech Construction Company.

“Is it not amusing that the former Vice President, a man who openly said he formed Intels Nigeria with an Italian businessman when he was serving in the Nigeria Customs Service, a clear breach of extant public service regulations, is now the one accusing someone else of conflict of interest?

“When he was Vice President of Nigeria between 1999-2007, he maintained his business links with Intels that won major port concession deals.

“As Chairman of the National Council on Privatisation, he approved sales of over 145 State-owned enterprises to his known friends and associates and openly said during his failed campaign for the presidency last year that he would do the same, if elected.”

Onanuga refuted Atiku’s assertion that the Chagourys own CDK, clarifying that the company’s chairman and primary shareholder is General TY Danjuma (rtd). He emphasized that the Chagourys hold minority shares in the company, with just one member of the clan serving on its five-person board.

“It is important to state clearly that Seyi Tinubu is a 38-year-old adult who has a right to do business and pursue his business interests in Nigeria and anywhere in the world within the limits of the law. The fact that his father is now the President of Nigeria does not disqualify Seyi from pursuing legitimate business interests.

“For the records, Seyi joined the Board of Directors of CDK in 2018, more than six years ago. He is representing the interest of an investor company, in which he has interest. He is not a board member because his father is a friend of the Chagourys.

“Information about owners and shareholders of CDK is a matter of public record that can be openly accessed from the website of the Corporate Affairs Commission and CDK’s. Atiku and his proxy did not need a little-known journal to recycle open-source information to make a fallacious argument.

“The Chairman of CDK and the highest shareholder of the company is respected General TY Danjuma (rtd). The Chagourys are minority shareholders in the company, and only one member of the clan is on its five-man board.

“We wonder how Seyi’s membership of the board of CDK conflicts with Hitech Construction Company’s work on Lagos-Calabar Coastal superhighway,” the statement read in part.


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