Presidency reacts to Atiku’s allegations on Seyi Tinubu’s board membership in Chagoury’s firm

The presidency has addressed allegations regarding Seyi Tinubu’s membership on the Board of Directors of CDK.

In a statement on Sunday, former Vice President Atiku Abubakar accused President Bola Tinubu of a conflict of interest in the award of the Lagos-Calabar Coastal Highway to Hitech Construction Company.

The Peoples Democratic Party (PDP) presidential candidate in the 2019 and 2023 elections claimed that the Chagoury family owned 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 argued that Seyi Tinubu’s involvement with CDK predates any alleged conflict of interest.

Onanuga said: “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 an 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.”