Friday, September 04, 2015

Assets Declaration: Buhari Worth N30m, Osinbajo N274m

As at May 29, 2015 when he took office, President Muhammadu Buhari had "less than N30 million" as assets, while those of Vice President Yemi Osinbajo were around N274 million, it was learnt on Thursday.
This disclosure, made by the President's spokesman,
Alhaji Garba Shehu, is expected to put an end to the
controversy over the public declaration of the assets
of the nation's Number One citizen and his deputy.
Shehu, the Senior Special Adviser on Media and
Publicity to the President on Media and Publicity,
disclosed that officials of the Code of Conduct Bureau
(CCB) are still vetting the assets.
He said that Osinbajo, a Senior Advocate of Nigeria
(SAN) "who had been a successful lawyer before his
foray into politics declared a bank balance of about
N94 million and 900,000 United States Dollars in his
bank accounts."
At the current exchange rate which hovers around
N200 to a dollar, Osinbajo's 900,000 dollars will be
about N180 million.
According to Shehu, the declaration shows that "prior
to being sworn in on May 29, President Buhari had
less than N30 million to his name. He also had only
one bank account, with the Union Bank."
The spokesman added: "President Buhari had no
foreign account, no factory and no enterprises. He
also had no registered company and no oil wells".
The statement added that Buhari "had shares in
Berger Paints, Union Bank and Skye Bank."
He also "had a total of five homes, and two mud
houses in Daura. He had two homes in Kaduna, one
each in Kano, Daura and in Abuja."
One of the mud houses in Daura, the statement
disclosed, "was inherited from his late older sister,
another from his late father. He borrowed money
from the old Barclays Bank to build two of his
It continued: "President Buhari also has two
undeveloped plots of land, one in Kano and the other
in Port Harcourt. He is still trying to trace the location
of the Port Harcourt land.
"In addition to the homes in Daura, he has farms, an
orchard and a ranch. The total number of his
holdings in the farm include 270 heads of cattle, 25
sheep, five horses, a variety of birds and a number of
economic trees".
It disclosed that Buhari "uses a number of cars, two
of which he bought from his savings and the others
supplied to him by the federal government in his
capacity as former Head of State. The rest were
donated to him by well-wishers after his jeep was
damaged in a Boko Haram bomb attack on his
convoy in July 2014."
Osinbajo's assets include a "4-bedroom residence at
Victoria Garden City, Lagos and a 3-bedroom flat at 2
Mosley Road, Ikoyi. The Vice President also has a 2-
bedroom flat at the popular Redemption Camp along
Lagos-Ibadan Expressway and a 2-bedroom
mortgaged property in Bedford, England. Aside from
these, the Vice President has no other landed
properties on the form."
It added: "Apart from his law firm, known as
SimmonsCooper, the Vice-President also declared
shareholding in six private companies based in
Lagos, including Octogenerium Ltd., Windsor Grant
Ltd., Tarapolsa, Vistorion Ltd., Aviva Ltd. and MTN
"His personal vehicles are one Infinity 4-Wheel Drive
SUV, one Mercedes Benz and a Prado Jeep.
"As soon as the CCB is through with the process, the
documents will be released to the Nigerian public
and people can see for themselves".
The failure to make the assets public had stirred
controversy as the President's party, the All
Progressives Congress (APC) had made it a campaign
issue against former President Goodluck Jonathan
and erstwhile Vice President Sambo Dasuki.
The Presidency later disclosed that the public
disclosure would be made before the first 100 days
of the new administration, which falls today.
AbleMoJah® Nigeria.

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