Confirmation has been given by the presidency regarding Seyi Tinubu, President Bola Tinubu’s son, joining the Board of Directors of CDK in 2018.
According to a report by NewsNow, former Vice President Atiku Abubakar claimed in a statement on Sunday that there was a conflict of interest in the awarding of the Lagos-Calabar Coastal Highway project to Hitech Construction Company, allegedly owned by the Chagoury family, due to the President’s son’s role on CDK’s board – a tiles manufacturing company located in Sagamu, Ogun State.
In a statement issued on Monday, the Special Adviser to the President on Information and Strategy, Bayo Onanuga, expressed bewilderment at the suggested conflict between Seyi’s position on CDK’s board and Hitech Construction Company’s involvement in the Lagos-Calabar Coastal superhighway project.
He emphasized that Seyi Tinubu, a 38-year-old adult, has the right to engage in legal business activities both in Nigeria and globally, regardless of his father’s presidential status.
It was clarified that Seyi became a member of CDK’s Board of Directors in 2018, over six years ago, representing the interests of an investor company in which he holds a stake. His board membership is based on business affiliations, not due to any personal connections with the Chagoury family.
Onanuga highlighted that details about CDK’s ownership and shareholders are publicly available through the Corporate Affairs Commission and CDK’s website.
He criticized Atiku and his representatives for recycling publicly accessible information to construct a misleading argument.
Additionally, Onanuga disclosed that CDK’s Chairman and primary shareholder is the esteemed General TY Danjuma (rtd), with the Chagourys being minority shareholders and only one clan member serving on the five-person board.