Details of Gov Seyi Makinde’s assets: N48bn firms, 12 houses, others

One of the state governors who was a billionaire before joining politics is Governor Seyi Makinde of Oyo and he seems not to hide it.

He allegedly stated on live radio during election campaigns that he paid billions of Naira as tax to the government since commencement of operations of his company. Only a few people know much about him, but his latest declaration of his assets has shown that he is indeed a billionaire.

 

On Monday, July 15, 2016, Makinde was at the Oyo State office of the Code of Conduct Bureau in Ibadan where he received a copy of the asset declaration form for him to publicly declare his assets in fulfilment of his electoral promise.

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 was marked OYSE/2019/001 contained details of cash at hand, 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 containing the details of the asset form made public by the Chief Press Secretary to Makinde, Mr Taiwo Adisa, the governor of Oyo State has cash at hand and in the bank.

See details below:

  • 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
  • In Dollar terms, the Governor also declared properties, developed and undeveloped as well as household items valued at $4,400,000
  • 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.”
  • Makinde’s companies stand at N48, 150,736,889
  • Units of shares: 33, 730,000 as at May 28, 2019
  • Existing Bonds (Eurobond) worth $3, 793, 500
  • Shares, debentures and other securities valued at N120,500,000
  • Makon Engineering and Technical Services Limited with additional assets denominated as loans N1.7 billion
  • Energy Traders and Technical Services Limited with additional assets denominated as loans N1.159bn
  • Makon Oil and Gas Limited with additional assets denominated as loans N341 million
  • Makon Group Limited
  • Makon Construction Limited
  • Makon Power System Limited with additional assets denominated as loans N148.4 million

The additional assets denominated as loans of his company is  N3.389 billion.

The billionaire governor who spoke with newsmen at the CCB office in Ibadan was quoted as  “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.

He called all the members his 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.”