PRESS RELEASE...October 31, 2011.

At the 20th meeting of the Board of Directors of National eGovernment Strategies Limited held on 31th October, 2011 which was duly convened and attended with Chief J.B. Fumudoh as Chairman, the Board sacked the Management comprising Messrs. Gbenga Adebusuyi, Lawrence Ajiboye, Adamu Tanko, Segun Agbabiaka and Peter Okhueleighe with effect from October 31, 2011.

The Board also adopted the Report of its Audit Committee which unveiled monumental fraud in excess of N700million and for the disturbance engineered by Dr. Olu Agunloye and Alhaji Abubakar Ali at the 19th and 20th Meetings of Directors with other weighty issues, the Board also removed the duo of Dr. Olu Agunloye and Alhaji Abubakar as Directors and has ordered full scale investigations and forensic Audit of the Company accounts from the inception of Dr. Agunloye’s Management in 2006 to that of Mr. Gbenga Adebusuyi.

The Board being mindful of her fiduciary responsibilities has taken these actions to protect the fortunes of the company, restructure it for profitability and to ensure that ordinary citizens benefit from the eGovernment initiative through improved efficiencies and transparency in governance.
The Board hereby reaffirms her commitment to instituting good corporate governance and to returning National eGovernment Strategies Limited to the original vision of the Government and the Investors as Nigeria’s pioneer public private partnership (PPP) for the benefit of all stakeholders.

Present at the 20th Board Meeting were, Chief J.B. Fumudoh (Chairman), Dr. Felix Babatunde Obada (Director), Mrs. Rasheedat Yusufu, representing UBA Plc (Director) and Mr. Eric Amagada, (Director) Interim Administrator.

Signed by
Chief J.B. Fumudoh (Chairman)