Coastal Highway: Atiku’s claims about Seyi on Chagoury company board, misleading – Presidency

In a rebuttal to claims made by former Vice President Atiku Abubakar, the Presidency has asserted the administration’s commitment to economic growth and unity while refuting allegations of manipulation and distortion of facts.

Bayo Onanuga, Special Adviser to the President on Information & Strategy, criticized Atiku’s assertions as attempts to discredit the current administration for personal gain.

He highlighted the administration’s focus on promoting unity and economic prosperity for all Nigerians.

Contrary to Atiku’s claims, Onanuga stated that under the leadership of President Bola Tinubu, the administration has successfully attracted over $20 billion in investments into the economy within its first year.

He cited examples such as commitments made by Indian business leaders during the G20 Summit in New Delhi, as well as Dutch businesses announcing a $250 million investment during President Tinubu’s recent trip to The Netherlands.

Onanuga also emphasized the significant increase in foreign investment in Nigeria’s stock market, noting a 415% surge from Q1 2023 to Q1 2024. He attributed this success to the administration’s economic reforms and highlighted growth across various sectors including telecoms, manufacturing, solid minerals, oil and gas, e-commerce, and fintech.

Addressing Atiku’s allegations of conflict of interest in the award of contracts, Onanuga dismissed them as unfounded. He refuted claims of favouritism towards Hitech Construction Company, stating that President Tinubu’s son’s involvement with a tiles manufacturing company in Ogun State does not constitute a conflict of interest.

The statement from the Presidency aims to clarify misconceptions and reaffirm the administration’s dedication to promoting economic growth and unity in Nigeria.

“Nigerians should, by now, be well accustomed to Atiku’s hypocrisy on many national issues. 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?

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

“Was this not an abuse of office, a flagrant violation of his oath, that a company where he was a co-owner won major government contracts and concessions when he was vice president?

“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.

“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.

“Alhaji Atiku has been waging an unrelenting war against this all-important and transformative project for no justifiable reasons other than bad politics. Atiku knows that its grand success and other projects to be unfurled, such as the Badagry-Sokoto superhighway, will be a major boost for President Tinubu and finally upend his perennial presidential ambition.”

NIGERIAN TRIBUNE