Friday , December 8 2023
bukunyi olateru-olagbegi

Royal Power: How Founder of Modern Democratic Party, Bukunyi Olateru-Olagbegi used his unqualified company to hijack N751 million Contract in Ondo State

Secret Reporters

Data have revealed that less than a year after Struken Construction Limited registered with the Corporate Affairs Commission, the company got a project from the Governor Rotimi Akeredolu-led Ondo State Government.

According to data on the State open procurement portal, the #751,547,468.48 contract was awarded to the company for the “Construction/Rehabilitation of 2.014km Olu Aiyewu. M1 Road Network in Alagbaka GRA Extension, Akure, Ondo State”.

Awarded by the Ministry of Works and Infrastructure, the contract, signed on the 16th of November, 2021, is expected to be executed within two years. 

Details of the awarded contract

Findings show that Struken Construction Limited belongs to Bukunyi Olateru-Olagbegi and his wife, Ola Modupe-Oreoluwa Oyeyemi.

Bukunyi Olateru-Olagbegi is a Nigerian entrepreneur and politician. He is a member of the royal Olagbegi Family in Owo, a city in Ondo State, Nigeria. He is the founder and chairman of the Modern Democratic Party.

CAC Details of Struken Construction Ltd

According to the information on CAC, the company’s address is 2 Seed Education Center Road, Kusenla, Ikate Elegushi, Lagos, Lagos State. However, on the contract, the company has 1 Arowolo Ifejola Street, Oshodi Layout, Behind BJ Filling Station, Akure. Ondo State, as its address.

Position of the Law

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.

However, from the date of its registration, December 4, 2019, to the date the company signed the contract, on November 16 2021, is less than a year, implying that the company did not qualify to get the contract.

When contacted, the project supervisor, FM Oluwatayo, whose name solely appeared as the contacted person on the Open Procurement Portal, said there was probably a “mix-up”. When our correspondent put the facts before him, Tayo said he wasn’t part of the awarding process and was unaware of how the project was awarded.

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