Oyo governor, Makinde declares over N50bn asset

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Seyi Makinde
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Oyo State Governor, Seyi Makinde has declared over N48 billion as his asset before the Code of Conduct Bureau. 

The Governor who was at the CCB, Monday, said he visited to get his copy of the form duly signed as a testament that anyone could assess the document through the freedom of information Act

He affirmed that his action was a fulfillment of his promise to make public his assets during the campaign period.

 “I came here to collect the photocopy of the form that I signed in fulfillment of my 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 as they stay within the ambit of the law, I will encourage them to do the same.” Makinde said.

The governor’s assets as contained in the CCB 1 deposited with the bureau in the name Oluseyi Abiodun Makinde, and declared at the High Court of Oyo State, on May 28th 2019, indicated that the Governor is worth about N50billion in assets.

The assets declaration form, marked OYSE/2019/001 contained details of 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. 

The governor’s Chief Press Secretary, Mr. Taiwo Adisa who made public the assets, showed that the Governor had cash at hand and in the bank worth N234, 742,296.01, as at May 28, 2019.

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 He also had dollar cash valued at $30,056.99 as at the same date.

His properties, including the developed and undeveloped as well as household items shown on the asset forms, is worth N2, 624,800,500 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.

The governor also declared assets in South African Rands. Buildings  and household items worth four Million, four hundred and fifty-seven thousand, five hundred and fifty-four and four South African Rands.

 The houses declared by the Governor include 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 billion with 33,730,000 units of shares as at May 28, 2019.

 Makinde also has existing Bonds (Eurobond) worth $3,793, 500 as well as shares, debentures and other securities valued at N120,500,000 million. 

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.

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 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.

 The Governor who was at the CCB said he visited to get his copy of the form duly signed as an attestation that anyone could assess the document through the freedom of information Act on details of his asset, just like he promised to do during the campaign period.

 “I came here to collect the photocopy of the form that I signed in fulfillment of my 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 as they stay within the ambit of the law, I will encourage them to do the same.”

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