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Power Drunk: How Ekiti Prince Olusola Owoeye-Adeyinka Used Unqualified Company to Hijack N61 Million Contract

Secret Reporters

Less than a year after Thirdborn Multiglobal Investment Nigeria Limited was registered with the Corporate Affairs Commission, the company was awarded a contract by the Ekiti State Government.

According to data on the Ekiti State Open Procurement Portal, the contract, awarded in 2018, was for “the acquisition of 1250 KVA gen set as a backup to the 1,400 KVA gen at Government ground”.

The contract was awarded by the Ekiti State Electricity Board and was worth N61, 618,348.84. However, the duration of the contract was not revealed.

(Screenshot of the contract on the Ekiti State Open Procurement Portal)

Findings revealed that Thirdborn Multiglobal Investment Nigeria Limited was incorporated in Ado-Ekiti, Nigeria with Registration Number 1420616. It was registered on 22 Jun 2017 and its current status is unknown. The company’s office address is 1, Onigari G.R.A.

According to the procurement law, to qualify for a government contract, a company must among others, show evidence of fulfilling its Tax obligations which include: (i) a Current Tax Clearance Certificate (TCC) for the last three (3) years; VAT Registration Certificate; and TIN Number (Tax Identification Number).

(ii) Audited Account of the Bidding Company for the last three (3) years duly endorsed by a firm of Professional Accountants.

More so, a check on the CAC portal showed that the company is not active, an indication of financial crime.

(A screenshot of the company on the CAC portal)

Going by these requirements, Thirdborn Multiglobal Investment Nigeria Limited was not qualified for the contract.

Further investigation revealed that the company is owned by Ekiti Politician cum Businessman Olusola Michael Owoeye-Adeyinka, a Prince from Ikogosi Ekiti.

In a similar development, the State Ministry of Public Utilities awarded a contract worth N60, 950,555.36 to First Forte Energy Ltd for the “Relocation/Construction of new Ekiti State Fire Service HQ, Ado-Ekiti”.

Findings revealed that the company was awarded the contract less than a year after it was registered with the CAC – a clear violation of the Open Procurement Law.

The company was incorporated in Lagos, Nigeria with Registration Number 1416894. It was registered on 05 Jun 2017 and its status is unknown. The company’s office address is 21, Adetoroadelaja, Magodo G.R.A Phase 2.

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