Details of Oyo Gov, Makinde’s N48bn Assets Declared to CCB

Oyo State Governor, Seyi Makinde, on Monday publicly declared his assets after he received a copy of the asset declaration form which he had earlier submitted to the office of the Code of Conduct Bureau (CCB) in Ibadan.

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

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 owned by the governor, his wife, Omini Makinde as well as his companies.

According to details of the asset form made public by Mr. Taiwo Adisa, the Chief Press Secretary to the governor, Makinde has cash at hand and in the bank worth N234,742,296.01, while in dollar terms, Makinde has cash valued at $30,056.99 as of May 28, 2019.

“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 as of the date of asset declaration.

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 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 Makinde include nine buildings in Nigeria, two in the US and one in South Africa.

“The details showed the current value of Makinde’s companies stands 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 stated.

In addition, the asset declaration form indicated that 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.”

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