Labour has suspended the whip from Bayo Alaba amid an investigation into government-backed Covid loans obtained by businesses with which he is connected.
The Southend East and Rochford MP (main picture) is a director and co-owner of Alaba Properties Ltd, an active property business incorporated in March 2019.
Companies House records classify the company’s activities as buying and selling its own real estate, letting or operating property and managing real estate for a fee or under contract.
Alaba is also listed as a person with significant control, holding more than 25% but no more than 50% of its shares and voting rights.
£50,000 LOAN QUESTIONS
The Times reports that company accounts indicate Alaba Properties received a £50,000 Bounce Back Loan during the pandemic, despite filing dormant accounts for the years ending March 2020 and March 2021.
Questions have consequently been raised about the company’s eligibility for the scheme and how the liability was handled. No finding of wrongdoing has been made.
The company’s filing history records two compulsory strike-off notices during 2022. The first was discontinued in March, while the second was suspended in June and discontinued in August.
But the filings do not show a voluntary DS01 strike-off application from the company’s directors. They show compulsory action initiated by the registrar, commonly associated with overdue statutory filings. The public record does not identify who subsequently objected to the second action.
PARTY INVESTIGATION
Alaba says: “Like many businesses and entrepreneurs, I accessed financial support during the Covid-19 pandemic.
“There has been no attempt to avoid my financial obligations, and I am wholeheartedly committed to ensuring that the liability is met in full.
“I’ve referred myself to the Labour Party’s investigations process on the matter and I’ll cooperate fully.”
A Labour spokesperson says: “Bayo Alaba MP has referred himself to the Labour Party so that these matters can be investigated in line with the party’s rules.
“The Labour Party expects the highest standards from our elected representatives and we have robust processes in place to ensure those high standards are upheld.”
Alaba Properties remains active, with its latest accounts covering the year to 31 March 2025.
