OYO: Governor Seyi Makinde Publicly Declares His Assets Worth Over N48 Billion

July 16, 2019
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The Oyo State Governor, Seyi Makinde, on Monday made public his assets in line with campaign promise, declaring companies worth N48,150,736,889, cash and property worth several billions.

According Makinde, his decision to make public his asset declaration was to fulfil his campaign promise to the people of the state.

Details of the assets as contained in the CCB 1 with the name Oluseyi Abiodun Makinde, was declared at the High Court of Oyo State, on May 28, 2019.

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

A statement detailing the content of the asset declaration form issued by Makinde’s Chief Press Secretary, Mr Taiwo Adisa, the governor of Oyo State has cash at hand and in the bank worth N234, 742,296.01, as of May 28, 2019.

In dollar terms, the governor had $30,056.99 as of the same date.

According to the statement, properties and household items declared on the forms showed that the governor was worth N2, 624,800,500, while in dollars, the governor declared properties and household items worth $4,400,000.

Also in South African Rands, the governor declared buildings and household items worth R4,400,057,550,04.

“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 of 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 further showed that the companies had additional assets denominated as loan notes, including Makon Engineering and Technical Services Limited(N1.7 bn); Makon Power System Limited(N148.4 m); Makon Oil and Gas Limited(N34m); Energy Traders and Technical Services Limited(N1.159bn) totalling N3.389bn

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