Oyo State Governor Seyi Makinde worth over N48bn after he declares assets

Oyo State Governor Seyi Makinde, has today Monday July 15th made public his asset valuation, which stands at a whopping 48 billion Naira.

The Governor who was at the Code of Conduct Bureau said he went there to get a copy of his asset declaration which he made public.

Anyone could assess the document through the freedom of information Act on details of his asset, as 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.

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“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.” the governor said

Details of the assets as contained in the CCB 1 deposited with the bureau in the name Oluseyi Abiodun Makinde, which was 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.

According to details of the asset form made public by the Chief Press Secretary to Makinde, Mr. Taiwo Adisa, the Governor of Oyo State 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.

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 was 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 had 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).

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