OBMSGATEWAY

OBMSGATEWAY
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Saturday, November 15, 2014

DELE MOMODU: THERE ARE VOLCANIC TENSIONS WITHIN APC

The APC leaders are still presenting a public display of unity and camaraderie despite the volcanic tension within. The battle for supremacy is always a natural manifestation in the power game. 
I can say confidently that the reality APC must come to terms with is that it has moved from being a Limited Liability Company to a Public Limited Company and many terms of the former shareholder agreements and the Directors and officers are no longer applicable or tenable. In a PLC, the shareholding structure determines many things. 
For example, when UBA was bought by a smaller bank, Standard Trust Bank, the old Board of Directors could not hold on to the levers of control but bowed to the new wiz-kids led by Tony Elumelu. Such is life.
Once ACN, CPC, New PDP, ANPP and others agreed to work together, the big guns in those Parties should have known that things have changed. I’m aware that it takes time to adjust to a new environment but in this case there is no time to waste. 

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