Accolade as Oyo Governor, Seyi Makinde Declares #48billion worth of Asset

Governor of Oyo State, Engineer Seyi Makinde
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It has been kudos and loads of accolades to new governor of Oyo state, Seyi Makinde as he has publicly declared his assets. The engineer has been commended by Nigerians from deferent quarters following his compliance with the law they regard as exemplary. Makinde, on Monday made public his campaign promise to publicly declare his assets.

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 that his decision to make the assets public was in fulfillment of a personal promise he made during the elections.

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, 2019, indicated that the Governor is worth…

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 the followings as at May 28, 2019:

  1. Cash at hand and in the bank worth N234, 742,296.01 (N234.7 million).
  1. In dollar terms  $30,056.99 (10.8 million).
  1. Properties, including the developed and undeveloped as well as household items worth N2, 624,800,500 – N2.62 billion.
  1. In Dollar terms, the Governor also declared properties, developed and undeveloped as well as household items valued at $4,400,000 ($4.4 million) equivalent to N1.58 billion
  1. In South African Rands, the Governor declared buildings and household items worth 4,457, 454 Rands (four Million, four hundred and fifty-seven thousand, five hundred and fifty-four and four South African Rands)
  1. 9 Houses in Nigeria, 2 in United States and One in South Africa. One of the properties in the United States is described as “jointly owned.”
  1. 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 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.

Speaking with newsmen at the CCB office in Ibadan, Makinde said: “I came here to collect the photocopy of the form that I signed in fulfillment 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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