Oyo State Gov., Seyi Makinde Declares N48bn Assets, See The Details

Oyo State Governor Seyi Makinde on Monday made public his campaign promise to declare his assets openly.
The current value of Makinde’s companies stand at N48,150,736,889 with 33,730,000 units of shares as at May 28, 2019.
The details showed that the governor’s cash at hand and in the bank is worth N234,742,296.01, as at May 28, 2019.
The governor, who visited the Oyo State office of the Code of Conduct Bureau (CCB) in Ibadan to receive a copy of the asset declaration form, said his decision to make the assets public was in fulfilment of a personal promise he made during the elections.
Details of the assets are contained in the CCB 1 with the name Oluseyi Abiodun Makinde, which was declared at the High Court of Oyo State, on May 28, 2019.
The assets declaration form, marked OYSE/2019/001, contained details of cash at hand, in the bank, landed properties (developed and undeveloped), household items, shares and bonds owed by the governor, his wife, Omini Makinde as well as his companies.
According to the Chief Press Secretary to Makinde, Mr. Taiwo Adisa, in dollar terms, the governor 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 as at the date of the asset declaration.
In dollar terms, Makinde also declared properties, developed and undeveloped as well as household items valued at $4,400,000.
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 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.
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 (N1.159 billion), totalling N3.389 billion.
Speaking with reporters at the CCB office in Ibadan, Makinde 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.”
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