Former Head of State, Chief Olusegun Obasanjo is currently struggling to revive his wobbling farm business which had suffered a big blow from swindlers in recent time.
Exclusive reports reaching the magazine has uncovered that the farm which is located in Otta, Ogun State, is, presently faced with turbulent times own to mass corruption which has hitherto hindered the smooth operation of the company.
Sources divulged that the farm is deteriorating day-by-day owning to self-enrichment and other corrupt acts perpetrated by some top workers of the company. Over N500m, we heard, had been siphoned from the company’s account through various illicit corrupt practices.
Few years ago, the disturbed political icon was said to have appointed his son, Seun, an Agric Science Phd holder to run the affairs of the company. Those in the know confirmed that though Seun put into use his wealth of experience and academic background to overturn the fortune of the company, his effort hit brick wall as the unrepentant perpetrators continued with their parasitic activities.
According to sources, the perpetrators of this fraudulent act seem to be untouchable as they are allegedly either related to Obasanjo or happen to be his friend. We learnt they have been working in the farm for donkey years.
It was said that when Seun summoned all the courage to challenge this said cabal recently, they allegedly threatened to kill him during a hot argument that lasted for hours.
On getting wind of their devilish plan for his dear son, the military strategist and political juggernaut, Obasanjo, was said to have transferred Seun to his packaging firm, also situated in the state.
The source squealed that Obasanjo is now at the helms of affairs and has sworn to discreetly deal with the said cabal.
Meanwhile, in the bid to improve the collapsing financial strength of the company, sources said, he is planning to inject a whopping sum of N500m into the farm. It was also alleged that he has met with his banks over a loan possibility.