Alpha Beta N100 Billion Scam: EFCC Begins Investigation Of Fraud Linked To Nigeria’s Vice President Osinbajo Firm


The Economic and Financial Crimes Commission (EFCC) said yesterday that it has commenced an investigation into an alleged N100 billion Alpha Beta scam which involved the current Vice President Yemi Osinbajo’s firm is ongoing.

This was made know through a statement by the spokesperson for EFCC, Tony Orilade.

Reacting to an alleged N100 billion Alpha Beta scam linked to Osinbajo’s firm, he said, “While not denying the fact that such petition was received on Alpha Beta by the commission last year, preliminary investigation has shown that the petitioner did not substantiate the allegation contained in his petition.

“For the records, the Alpha Beta investigation is ongoing and we have nothing to hide over the matter. If the petitioner has any further proof with regards to the petition, our doors are wide open.

“As a tradition, we do not deal with hearsay. We act on facts and raw data. The commission will not allow anybody to drag its name and reputation into the mud for ill-motive reasons.”

“To underscore the desperation of the editorial team that anchored the report, Mr. Tobi Aworinde contacted the Commission’s acting Spokesperson at exactly 9:44 pm on Friday, July 12, 2019, on the subject matter.

“Mr. Aworinde called the Spokesperson to know the position of the Commission on the petition. The Spokesperson sent a response via a WhatsApp platform. Unfortunately, this response was not captured in the Punch report.

“When contacted why the response of the Spokesperson was not reflected in the report, Mr. Aworinde replied and said: “I forwarded the message as soon as I got it.

“It must have been the race to press. We were behind on our production deadline when I called for the reaction. My apologies sir”.

“There is no doubt that the ‘race to press’ and ‘we were behind our production deadline when I called for reaction’, as explained by Aworinde, is suggestive that there was an agenda and a motive.”

The anti-graft agency said it has attended to Apara’s petition contrary to insinuations.

It said: “It is erroneous for the newspaper to claim that the Commission did not do anything in respect to the petition for one year.

“It is also unfortunate and unprofessional for a paper like The Punch Newspapers to champion such misinformation and also rush to the press on a sensitive matter like this.

“As we continue our investigation, we urge the media to be circumspect, fair and balance in their reportage.”

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Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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