Assets Declaration: Gov Makinde Declares Billions of Naira in Cash, Properties

Posted by African Examiner Featured, Latest Headlines, News Monday, July 15th, 2019

…9 Houses in Nigeria, 2 in U.S., 1 in South Africa

(AFRICAN EXAMINER) – Mr Seyi Makinde, the Oyo State Governor has made public his assets after he received a copy of the asset declaration form which he had earlier submitted to the Oyo State office of the Code of Conduct Bureau (CCB) in Ibadan.

African Examiner reports that 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, Mr Makinde has a cash at hand and in the bank worth N234,742,296.01, while in dollar terms, Makinde has cash valued at $30,056.99 as at May 28, 2019.

“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 property, 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.

“The houses declared by the Makinde include nine buildings in Nigeria, two in the U.S. and one in South Africa.

One of the properties in the U.S. 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 stated.

In addition, the asset declaration form indicated that 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.”

Earlier on Monday, Gov Makinde told newsmen at the CCB office in Ibadan, that he came to collect the photocopy of the form signed in fulfillment of his campaign promise to declare his asset publicly and release the document to the public.

He also promised to encourage all the members of his cabinet to do the same thing “but in as much they stay within the ambit of the law.”