Lawsuit against Nigeria presidential candidate to settle

Bloomberg

Adversaries in a Nigerian lawsuit in which a leading presidential candidate is accused of secretly controlling the private company that collects taxes in the state he once ran are discussing an out-of-court settlement.
Oladapo Apara, a founder of Alpha Beta Consulting LLP, alleges that Bola Tinubu concealed his control of the firm. In the early 2000s, as governor of Lagos state, Tinubu awarded the newly established ABC a contract to collect taxes in Nigeria’s commercial hub that it still holds today.
Apara filed his suit against ABC and Tinubu in June. Ahead of a court hearing scheduled for March 24, Apara and ABC are discussing a possible out-of-court resolution to the dispute, the plaintiff’s lawyer, Ebun-Olu Adegboruwa, said by email. The settlement talks still require Tinubu’s “input” to be “meaningful and conclusive,” according to Adegboruwa.
An accountant who says he “solely conceived” of ABC, Apara alleges that Tinubu directed him to transfer 70% of the company’s shares to two individuals of the then-governor’s choosing, according to the plaintiff’s statement of claim. Apara said he did this as a “pre-condition” for Tinubu’s approval of a project to improve the tracking and management of Lagos state’s revenue.
Tinubu led Nigeria’s wealthiest state from 1999 to 2007, and has always held “a controlling interest” in ABC, Apara alleges in court filings, describing it as “extortion”.