Oyo: I’m Worth N48bn, Gov Seyi Makinde Publicly Declares Asset

Oyo State Governor, Seyi Makinde, on Monday, made public the details of his asset declaration forms submitted to Code of Conduct Bureau (CCB).

Makinde’s asset declaration forms indicate that the governor was worth over N48 billion in both cash and properties before he took over office on May 29, 2019.

Even though the Code of Conduct law does not require Makinde to make his asset public, the Governor made details of the document public in fulfillment of one of his promises during the governorship campaigns in the state.

Makinde’s Chief Press Secretary, Taiwo Adisa, disclosed in a statement on Monday that the governor’s asset declaration document was filed with the number CCB OYSE/2019/001 on May 28, 2019

According to Adisa, the asset comprised “cash at hand, in the bank, landed properties (developed and undeveloped), household items, share and bonds owed by the Governor, his wife, Omini Makinde as well as his companies.

He said the Governor, “had cash at hand and in the bank worth N234, 742,296.01, as at May 28, 2019.

“In dollar terms, the Governor has cash valued at $30,056.99 as at the same date.

“Properties, including the developed and undeveloped as well as household items indicated on the asset forms, showed that the Governor is worth N2, 624,800,500(two billion, six hundred and twenty-four million, eight hundred thousand, five hundred  Naira as at the date of asset declaration.

“In Dollar terms, the Governor also declared properties, developed and undeveloped as well as household items valued at $4,400,000(four million, four hundred thousand dollars only.

“In South African Rands, the Governor declared buildings and household items worth four Million, four hundred and fifty-seven thousand, five hundred and fifty-four and four South African Rands.

Adisa said the houses declared by the Governor included “nine buildings in Nigeria, two in the United States of America and One in South Africa.

“One of the properties in the United States is described as “jointly owned.”

“The details showed the current value of Makinde’s companies stand at N48, 150,736,889 (forty-eight billion, one hundred and fifty million, seven hundred and thirty-six thousand, eight hundred and eighty-nine Naira), with 33, 730,000 units of shares as at May 28, 2019.

“The Governor also has existing Bonds (Eurobond) worth $3, 793, 500 as well as shares, debentures and other securities valued at N120,500,000(One hundred and twenty million, five hundred thousand naira).

“ The companies listed by the Governor include Makon Engineering and Technical Services Limited; Energy Traders and Technical Services Limited; Makon Oil and Gas Limited; Makon Group Limited, Makon Construction Limited and Makon Power System Limited.

“The asset declaration form indicated that Governor Makinde’s four companies have additional assets denominated as loan notes including Makon Engineering and Technical Services Limited(N1.7 billion); Makon Power System Limited(N148.4 million); Makon Oil and Gas Limited(N341 million); Energy Traders and Technical Services Limited(N1.159bn) totalling N3.389 billion.

 Adisa quoted Makinde as telling newsmen at the CCB office in Ibadan that:  “I came here to collect the photocopy of the form that I signed in fulfillment of the campaign promise to the people that I will declare my asset publicly and release the document to the public.

“I will encourage all the members of my cabinet to do the same thing but in as much they stay within the ambit of the law, I will encourage them to do the same.”