The massive looting of Lagos
state by the Leader of the Action
Congress of Nigeria, Asiwaju Bola
Tinubu has reached monumental
proportion. Tinubu whose
companies recently conered a
multi billion road construction
job in Ogun State, has in his
pocket all the juicy contract in all
the Action Congress’ states.
In retrospect, it might be difficult
to come to terms with the fact
that an individual could hold the
entire south west to ransom.
There is no doubt that Tinubu
has succeeded in buying the
Lagos State government, and he
has done this using government
funds.
.
Whenever someone in Lagos
begins to wonder where their 4th
mainland bridge went, or what
was the fate of the pipe-borne
water project, or even where the
schools and hospitals had
vanished to, there is a silence that
contains it all. The largest
landlord in Lagos has done as he
has pleased, and the rest of the
state just has to deal with it. For
instance: Number 4, Oyinkan
Abayomi (formerly Queens)
Drive, Ikoyi: A 5-bedroom
detached house on one acre of
land which was originally the
Lagos State Governor’s guest
house since 1979, but which now
belongs to Tinubu. The certificate
of occupancy of the property
valued at N450 million was signed
and released to him by Fashola in
2007 shortly after he assumed
office.
Tinubu’s residence at 26
Bourdillon Road, Ikoyi was
initially falsely presented as
Oando Plc Guest House. Later, he
purportedly bought it from
Oando, and used public funds to
rebuild and renovate it. The Lagos
State Government bought the
property and paid an undisclosed
sum to him and thereafter gave
the property back to him under
the bogus Pension Bill he signed
to law shortly before he left office
in 2007. The property is worth
over N600 million.
The annex of the Lagos State
Guest House in Asokoro, Abuja
was bought by the State
Government in 2006 for N450
million, purportedly to protect the
main house from security breach.
Shortly after Tinubu left office, the
property was transferred to him
under the pension plan he signed
into law before leaving office.
The 250-hectare land valued at
about N35billion and strategically
located at the Ajah junction on
Lekki Road was initially meant for
a General Hospital for the people
of Eti-Osa Local Government but
was stolen by Tinubu and handed
over to Trojan Estate Ltd – a
company owned by Deji and Wale
Tinubu – to develop as Royal
Garden Housing Estate at the
expense of the taxpayers of
Lagos.
The 1,000 hectares of land valued
at about N75billion located at
Lakowe near Abijo at Ibeju-Lekki
Local Government and given to
Lekki Concession Company (LCC)
which is partly- owned by Tinubu
and Fashola and being developed
as golf course and housing estate
by Assets and Resource
Management Ltd (ARM) as ADIVA
project.
The prime land of 157 hectares
with 2.5km of Atlantic beachfront
valued at about N10billion and
stolen by Tinubu from the
communities of Siriwon,
Igbekodo, Apakin, etc in Ibeju-
Lekki Local Government and given
to Ibukun Fakeye – his crony to
build a golf course and luxury
villa with little or no
compensation to the villagers. In
addition, Tinubu paid $20million
(N3billion) out of public treasury
to Ibukun Fakeye to commence
the project in late 2006. Fashola
has since released additional
funding for this project, which is
not owned by the state
government.
The 14-hectare Parkview Ikoyi
Estate foreshore land reclaimed
by Lagos State Government is
now owned by Bola Tinubu.
While in office, he allocated to
himself the former Strabag yard
beside the Lagos State Secretariat
at Alausa, Ikeja. The property is
now being developed into a
shopping mall as big as the Palms
in Lekki. This is public property
brazenly stolen and now owned
by Tinubu, aided by Fashola.
The choice property at Lekki-Epe
road on which he built and owns
the multi-billion Naira Oriental
Hotel and the extension of multi-
storey car park beside it. Also, the
multi-level recreation centre by
Mobil in Oniru Estate on Lekki-
Epe road jointly owned with ARM
and Tunji Olowolafe. All these
assets valued at over N25billion
were obtained without paying a
kobo to the Lagos State
Government.
Tinubu and Fashola sold the
following prime Lagos properties
to their personal friend and front
– Prince Dipo Eludoyin at very
ridiculous prices:
• The 3.8-hectare of land of Lagos
State Fisheries office in VI (beside
the Institute of Oceanography)
valued at N3billion.
• The fishery landing jetty at
Badore (where the Ilubirin
fishermen were to be relocated)
valued at N500million
• The entire Ogudu foreshore
scheme initially earmarked for a
low-cost housing scheme valued
at N5billion
• The Ilubinrin housing estate
(which used to house Lagos state
civil servants and judges up till
2007) valued at N2.5billion.
• The former Julius Berger yard at
Oko Orisan, Epe valued at
N450million.
Tinubu raised a loan of
N4.7billion on Eko Akete project
for which nothing was achieved
before he turned around to sell
the property to his Chagouri
friends of Chagouri & Chagouri
and Hitech Construction Ltd at a
ridiculously low price at the
expense of the taxpayers of
Lagos.
Tinubu applied to personally
purchase the Federal Secretariat
building while in office. When he
couldn’t get to buy it, he directed
Fashola to stop the eventual
owner of the complex to develop
it. The complex is presently
wasting away courtesy of the
Lagos State Government.
It took several months of horse
trading and underhand payments
before Fashola could allow the
new owners of 1004 flats to
redevelop the complex. Several
other buyers of Federal
Government properties and
developers of properties in Ikoyi,
Victoria Island and Government
Reservation Area Ikeja were
forced to succumb to the
outrageous demands of Tinubu,
Fashola, Commissioner Abosede
and other officials of the Lagos
State Physical Planning Ministry
and were made to pay ridiculous
amounts to private accounts
before their redevelopments
were approved. Those who
refused or were unable to pay
could not develop their
properties. This is a major
economic strangulation of
property developers and has
contributed largely to the
skyrocketing rent in Ikoyi, VI and
Lekki axis.
Tinubu converted all the plots of
land where Lagos Polytechnic was
located at Ikosi near the old toll
gate. He chased away the
Polytechnic in 2006 and went
ahead to locate the choice plots
to himself, his cronies and
political associates. The
headquarters of Television
Continental (TVC), which is owned
by him, is located there. He
deprived the youths of Lagos of
decent education because of his
greed.
Tinubu solely sold the prime land
on Aboyade Cole, Victoria Island
which was recovered from some
allotees, to UACN Properties Plc.
The amount of proceeds was
shrouded in secrecy.
Eludoyin, fronting for Tinubu,
built the estate directly opposite
Goshen Beach Estate in Lekki
area.
Tinubu’s wife, Remi Tinubu, built
the massive New Era Foundation
youth camp at the junction of
Eleko, off the Lekki-Epe express
road, with Lagos State funds and
has now converted it to personal
use.
Tinubu owns the Fara Park Estate
and the Beach Wood Estate both
in Lekki.
The Critical Care unit at the Lagos
State University Teaching Hospital
(LASUTH) in Ikeja, built and
equipped with state funds, is now
owned personally by Tinubu. He
has put one Dr. Sikiru Tinubu, (a
supposed cousin of his) to run
the outfit. It is run as a private
unit and the proceeds are
pocketed by the duo. The unit
charges its users exorbitantly and
most Lagosians can hardly afford
to pay its high charges. Much of
the revenue is derived from fees
paid by the State Government for
patients referred there by its
General Hospitals.
Several prominent Nigerians in
the judiciary, police, INEC, and
other sensitive agencies have
obtained prime land from former
Governor Tinubu and incumbent
Governor Fashola over the years
without paying a kobo. Many of
them had turned around to sell
the land to third parties at
substantial profit. Many top
officials in the police, INEC and
the judiciary who participated in
the 2003 and 2007 elections and
tribunals in states where Tinubu
has interest were compromised
with parcels of free prime Lagos
land and cash. If the Lagos State
Land’s Bureau could publish the
names and identities of
beneficiaries of land allotees
from 2000 to date, the scandal
that will result is better imagined.
Gbenga Ashafa, now a Senator,
and Mrs. Awofisayo were the
conduits through which these
acts were being perpetrated. Both
were also personally involved in
various dubious land transactions
on their own.
Prime land and properties have
been used to pay off public
officials who are personally close
to Tinubu and Fashola for “jobs
well done” or for being privy to
sensitive information, notably:
(a) Dele Alake, former
Commissioner for Information
and Strategy, was sold a whole
house on Alexander Road, Ikoyi
where he lived as official quarters
at a give-away price.
(b) Rauf Aregbesola, Osun State
Governor, who was a former
Commissioner in Lagos as well as
Muiz Banire, also a former
commissioner, got detached
houses at Ladoke Akintola Street,
GRA Ikeja for their “good job”
while serving under Tinubu.
(c) Yemi Cardoso and Wale Edun,
both former commissioners,
were sold houses on Iru Close,
and another location in old Ikoyi
at give-away prices by Tinubu.

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