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Promoting Good Governance.

Oyo governor, Makinde declares N48b worth of assets

IN fulfillment of his campaign promise to make public his asset,  Governor of Oyo State, Seyi Makinde on Monday has declared his assets.

Governor Makinde is the first among the 36 governors in the country to have publicly declared his assets since their inauguration on May 29, 2019.

He has has in excess of N48 billion in both cash and properties.

Details of his assets as contained in the Code of Conduct Bureau form (CCB1) with the name Oluseyi Abiodun Makinde, was declared at the High Court of Oyo State, on May 28.

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.

The Chief Press Secretary to the governor, Taiwo Adisa who made the asset declaration available to journalists explained that governor Makinde 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.

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 governor included 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 (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 his 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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