It is not enough for the All Progressives Congress (APC) Chairman in Oyo State that the State Governor, Engineer Seyi Makinde, declared personal assets worth N48 billion; he wants him to go a step further to tell the source of his stupendous wealth.
Chief Akin Oke, in Iseyin Oyo State, on Tuesday said, “I don’t think I want to make comment on the issue since I have no idea, but it raises a number of issues.
“He just declared what he has, how did he come about the asset is not there?
“Going by my experience and exposure, I think it is too early to honestly access a governor just after few days office, I will rather wait till after 100 days or even after six months.
“To start accessing people after six weeks in office will be so unfair if one wants to be honest to his conscience,” he said.
Makinde has been receiving praise for releasing details of the assets he declared to the Code of Conduct Bureau (CCB). But some, like the APC chief, have questioned the source of his wealth.
According to details of the asset form made public by the Chief Press Secretary to Makinde, Mr. Taiwo Adisa, on Monday, the Governor of Oyo State had cash at hand and in the bank worth N234, 742,296.01, as at May 28, 2019.
In dollars, 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 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 (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.”