The Presidency has confirmed that President Bola Tinubu’s son, Seyi Tinubu, joined the Board of Directors of CDK, a tiles manufacturing company, in 2018. This admission comes after former Vice President Atiku Abubakar accused the President of conflict of interest in the award of the Lagos-Calabar Coastal Highway to Hitech Construction Company, allegedly owned by the Chagoury family.
According to Special Adviser to the President on Information and Strategy, Bayo Onanuga, Seyi Tinubu’s membership on the board of CDK does not constitute a conflict of interest. “Seyi Tinubu is a 38-year-old adult who has the right to do business and pursue his business interests in Nigeria and anywhere in the world within the limits of the law,” Onanuga stated.
Onanuga clarified that Seyi joined the Board of Directors of CDK in 2018, representing the interest of an investor company in which he has an interest. He emphasized that Seyi’s position on the board is not due to his father’s friendship with 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,” Onanuga added.
The Presidency also revealed that the Chairman of CDK and its highest shareholder is General TY Danjuma (rtd), while the Chagourys are minority shareholders with only one member on the five-man board. Onanuga criticized Atiku and his proxy for recycling open-source information to make a “fallacious argument.”
