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Gov. Seyi Makinde Declares Assets Worth Over N48bn To Public

The Oyo State Governor, Engr. Seyi Makinde on Monday, July 15, made public his campaign promise to publicly declare his assets.

Gov. Seyi Makinde, who visited the state office of the Code of Conduct Bureau (CCB) in Ibadan to receive a copy of the asset declaration form, said that his decision to make the assets public was in fulfillment of a personal promise he made during the elections.

It was gathered that the details of the assets as contained in the CCB 1 with the name Oluseyi Abiodun Makinde, which was declared at the high court of Oyo state, on May 28, indicated that the governor is worth over N48 billion.

OYSE/2019/001 by mark, assets declaration form contained details of cash at hand, in the bank, landed properties (developed and undeveloped), household items, share and bonds owned by the governor, his wife, Omini Makinde as well as his companies.

The asset form made public by Taiwo Adisa, the chief press secretary to Seyi Makinde, the governor of Oyo state had cash at hand and in the bank worth N234,742,296.01, as at May 28.

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 he 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 South Africa, the governor declared buildings and household items worth R4,457,554 (four million, four hundred and fifty-seven thousand, five hundred and fifty-four and four) South African Rands.

Engr Seyi Makinde also declared properties, in dollar terms, 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 is described as “jointly owned.”

It 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.

Makinde 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 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) totaling N3.389billion.

Makinde, while speaking with newsmen at the CCB office in Ibadan, he said:

“I came here to collect the photocopy of the form that I signed in fulfilment 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.”

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Ahmmed Adekunle Aleem well known as SIR 3PU is a Personal Finance and Music Blogger. He's a Content Editor at & If he's not online, then he's either sleeping or watching Manchester United's match

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