Oyo Governor makes assets declaration public

Olubunmi Osoteku, Ibadan


The Governor of Oyo State, Seyi Makinde, has made the details of his asset declaration form public.

Makinde, 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.

According to a press release signed by the Chief Press Secretary to the Governor, Mr. Taiwo Adisa, the assets as contained in the CCB 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 over N48 billion.

The assets declaration form, marked OYSE/2019/001 contained details of cash at hand, in the bank, landed property (developed and undeveloped), household items, shares and bonds, owed by the Governor, his wife, Omini Makinde,  as well as his companies.

The Governor had cash at hand and in the bank worth N234, 742,296.01 in Naira and $30,056.99 in Dollar terms, as at May 28, 2019.

The statement says, property, 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 the asset declaration.

The details of the release shows that: 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 Rand, 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 include nine buildings in Nigeria, two in the United States of America and One in South Africa. One of the buildings in the United States of America is described as “jointly owned.”

The details of the statement shows that 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).

As shown in the release, 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) and Energy Traders and Technical Services Limited (N1.159bn), totaling N3.389 billion.


Confidence Okwuchi