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Presidency Confirms Seyi Tinubu’s Involvement with CDK Board Since 2018

May 6, 2024



In response to allegations made by former Vice President Atiku Abubakar regarding a conflict of interest in the awarding of contracts, the presidency has confirmed that Seyi Tinubu, son of President Bola Tinubu, has been a member of the Board of Directors of CDK since 2018.

Atiku Abubakar raised concerns about the awarding of the Lagos-Calabar Coastal Highway project to Hitech Construction Company, allegedly owned by the Chagoury family, while pointing out Seyi Tinubu’s affiliation with CDK, a tiles manufacturing company based in Sagamu, Ogun State.

In a statement issued by the Special Adviser to the President on Information and Strategy, Bayo Onanuga, the presidency defended Seyi Tinubu’s right to pursue legitimate business interests, emphasizing that his involvement with CDK predates his father’s presidency by more than six years.

Onanuga clarified, “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.”

Furthermore, he highlighted that Seyi Tinubu’s position on the CDK board represents the interests of an investor company in which he has a stake, refuting any insinuations of nepotism or undue influence.

The statement also addressed the ownership structure of CDK, noting that the Chairman of the company and its highest shareholder is retired General TY Danjuma. The Chagourys, accused of potential conflict of interest, are minority shareholders, with only one member of the family serving on the five-man board.

The presidency emphasized that information about CDK’s ownership and shareholders is publicly accessible and refuted claims that Atiku Abubakar’s accusations were based on undisclosed or privileged information.

The clarification provided by the presidency aims to dispel any misconceptions regarding Seyi Tinubu’s involvement with CDK and reaffirm the commitment to transparency and accountability in business dealings.


Credit: Daily Post

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