Governor Seyi Makinde Declares N48bn Assets, Firm, Others

Posted on July 16 2019 , at 03:40 pm
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Governor Seyi Makinde of Oyo State promised during his campaign that he was going to publicly declare his assets if he won. He kept that promise by declaring his assets in both cash and properties to be about N48bn.

He visited the Oyo State office of the Code of Conduct Bureau in Ibadan to receive a copy of the asset declaration form in May. He then declared details of the assets as contained in the CCB 1 with the name Oluseyi Abiodun Makinde, at the High Court of Oyo State, on May 28, 2019.

In a statement released by Taiwo Adisa, the governor’s press secretary, the governor’s CCB OYSE/2019/001 form that was filed on May 28, 2019, showed the governor had N48 billion in combined cash and asset. It contained details of cash at hand, in the bank, landed properties (developed and undeveloped), household items, share and bonds owned by the governor. He also added the assets of his wife, Omini Makinde, as well as his companies to the asset declaration form.

As of May 28, 2019, Governor Seyi Makinde had N234, 742,296.01 and $30,056.99 in his bank accounts. His nine houses in Nigeria were valued at N2, 624,800,500, while his two houses in the United States (with one jointly owned) was valued at $4,400,000. He also has one house in South Africa that is worth R4,400,057,550,04. The values placed on the houses included the buildings and the household items in them.

The details of the form showed that the current value of his companies stands at N48, 150,736,889, including 33,730,000 units of shares as of May 28, 2019. He also has Eurobonds worth $3,793,500 as well as shares, debentures and other securities valued at N120,500,000.

The governor has four companies that have additional assets labelled as loan notes, including Makon Engineering and Technical Services Limited(N1.7 bn); Energy Traders and Technical Services Limited(N1.159bn); Makon Power System Limited(N148.4 m); Makon Oil and Gas Limited(N34m);  totalling N3.389bn. He also has two other companies that are Makon Group Limited, Makon Construction Limited.

Governor Seyi Makinde who is a member of the People’s Democratic Party (PDP) followed Nigeria’s code of conduct that expects senior public office holders to file their asset details while assuming office and occasionally update them. It is not compulsory to publicly declare this asset but this move by the governor has made him seem like a man with great integrity.


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