Tunde Ayeni Accuses Okunbo of Stealing, Criminal Diversion of Millions of Dollars

“You will agree with our client that the claim that Capt. Hosa Okunbo spent $18 million on influence peddling without discussing it with our client amounts to diversion as it makes no sense at all. More so, that the story of the amount he claimed to have spent has continued to change by the day from $1 million to $2 million to $4 million to $6 million until he made them to input the records $10 million for the Senate hearing and $8 million for the Presidency.” ReadMarket News

Infractions Ayeni accused Okunbo of included moving the company’s accounts from Polaris Bank to Stanbic IBTC and abandoning the loan repayment comment by the company to the consortium of banks that funded the acquisition of Yola and Ibadan Discos.
He said, “The loan as at today is about $100 million and no single repayment of interest and principal has been made into the account for over one year and a half.

“Captain Okunbo was a director of the Board of IBEDC until a few months ago when he resigned and replaced himself with his younger brother, Mr. Kingsley Okunbo, but he refused to pay the money meant for the acquisition of the company but he rather has been stealing it and diverting same to his personal use and to fund his political activities in just concluded Edo State governorship election.”

Ayeni also alleged that Okunbo inflated the cost of making a movie on oil spill in the Niger Delta from $7 million to $30 million.

The petition read, “Diversion of the loan of N500m to Gen. Boro the then coordinator of the Niger Delta Amnesty programme. Our client was informed that the money was subsequently repaid to the company through Captain Okunbo and two vehicles were recovered by him. He took possession of it and never paid back to the company.
“Captain Okunbo borrowed $2 million from the company and took it to Liberia to fund the current Liberian president’s election. He has refused to pay back to the company.

“Unauthorised sale of the company’s Challenger Aircraft for the sum of $5.5 million and diversion of the money to his personal farm in Benin, which he has refused to pay back to the company.
“Captain Okunbo borrowed $1 million from the company account which he refused to pay back to the company.

“The company through Captain Okunbo made available the sum of $5 million to Dr John Abebe for a five per cent share in an oil block with Star Oil. He has refused to provide details of the document of the investment.

“Captain Okunbo has illegally taken unauthorised amounts of money from the company account to fund the just concluded Edo State election without our client’s consent. From preliminary information our client has been informed that he spent about $18 million in this process, as a result of which our client requested a forensic audit of the accounts of the company and the subsidiaries, which Capt. Okunbo had taken full control of.”

Excerpts of OMS Press Statement in Response to Ayeni’s Petition

“The Board of Directors of OMS with a view to setting the records straight and to prevent Government Agencies, Clients of OMS and the general public from been misled by the false stories hereby states as follows:

1. That Dr. Olatunde John Ayeni is no longer a Director of OMS and any of its Associated Companies having resigned from OMS since August 2018.
2. That Dr. Olatunde John Ayeni is no longer a shareholder of OMS and its Associated Companies having sold and transferred all his shares and interests to Wells Property Development Company Limited for valuable consideration since 2018.
3. That Dr. Olatunde John Ayeni has not been involved and connected in the management of OMS since 2018 when he resigned from the Board and sold his shares.
4. That Dr. Olatunde John Ayeni became aware in September, 2020 that the Chairman of OMS Capt. (Dr.) Idahosa Wells Okunbo had health issues and was undergoing treatment in London and has since that time started making false claims that he is still a part of OMS.
5. That the Board of OMS has implicit and unshaken confidence in all the steps taken by Capt. (Dr.) Idahosa Wells Okunbo in managing the affairs of the company and the lofty heights to which he has taken the company.
6. The Board commends and appreciates Capt. (Dr.) Idahosa Wells Okunbo for his selfless and personal efforts in managing the affairs of the company and the use of his personal resources in meeting operational financial shortfall in the company.
7. The company states unequivocally that its accounts are in good and correct order and its funds are intact and not missing, misappropriated or otherwise mismanaged.
8. The Board has passed a vote of confidence on Capt. (Dr.) Idahosa Okunbo.
9. Dr. Olatunde John Ayeni is a meddlesome interloper who is seeking to blackmail Capt. (Dr.) Idahosa Wells Okunbo at this time of his ill-health for financial benefit.
10. Dr. Olatunde John Ayeni has no interest whatsoever in OMS and its affairs and is hereby advised to steer clear from OMS and its Associated Companies.”

Ned Nwoko Fires Back at Ayeni

In a letter addressed to the Inspector General of Police, Mohammed Adamu, Nwoko put a lie to Ayeni’s claim, stating that at no point in time “have I had any dealings with Ayeni or Ocean Marine Solutions in whatever capacity.”
Describing Ayeni’s assertion as “a malicious statement devoid of truth”, Nwoko expressly stated he has “never received any sum from Ayeni which he purported in his petition and has never played any role whatsoever as it relates to this transaction.”

“All transactions on the subject matter were done directly with Capt. (Dr.) Idahosa Wells Okunbo in his personal capacity to the exclusion of any other party including Ocean Marine Solutions Limited. To suggest otherwise as contained in the said petition is merely a malicious statement devoid of truth.”

Nwoko urged the IGP to yield no credence to the contents of Ayeni’s petition, as he had no clue “as to the nature or extent of my involvement with ALGON,” as he further clarified that that he only met Tunde Ayeni “in connection with ALGONS contract for the supply of Ambulances which were to be funded from the Paris Club refunds (5% of the judgement sum) and this project is still pending for all that I know.”
“I am not aware of any payments in connection with this project,” Nwoko stated.