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Seyi Makinde Publicly Declares Assets, Firms Worth Over N48bn

Peter Okunoren

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Oyo State Governor, Engineer Seyi Makinde, on Monday made good his campaign promise to publicly declare his assets.

The Governor, who visited the Oyo State office of the Code of Conduct Bureau (CCB) in Ibadan to receive a copy of the asset declaration form said that his decision to make the assets public was in fulfillment of a personal promise he made during the elections.

Details of the assets as 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, indicated that the Governor is worth over N48 billion.

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 the Chief Press Secretary to Makinde, Mr. Taiwo Adisa, the Governor of Oyo State had 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(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.”

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BIG STORY

Meet TV Producer And Content Guru Prince Adewole Liepede [PHOTO]

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Adewole Lipede, is an entrepreneur and sole proprietor of Back home Productions and is best known for his work in Marketing Strategies, Event Planning, Branding and as a Producer. For the past 10 years, he has hosted over 100 events in Los Angeles, CA and other metropolitan cities in the US.

He is also the talent liaison for BET International during the Annual BET Awards show every year. He has produced and consulted for TV projects with the intent of increasing exposure to African entertainment and culture.

His previous project was a comedy show in Hollywood and a line of children’s books called Back home Kids, which was inspired by his son to expand reading to kids.

His newest venture named “My Tribe” is geared towards the values of all people in the development to instill long-standing regard for the customs that originated back home. Adewole is an alumnus of Morgan State University with a BA in Theatre Arts. He enjoys spending time at home with his family.

Mr. Adewole Lipede is the grandson of the late King Oba Oyebade Lipede the late Alake of Agba land; Adewole is also working on a project with the presidency. Details are not entirely known to the public but it’s sure about African content and building African in Africa and also in the diaspora.

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Federal Government Plans Petrol Alternative, To Crash Fuel Price To N97

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The Federal Government on Thursday said it would crash the price of petrol by providing Compressed Natural Gas as an alternative source of fuel for vehicles nationwide.

The CNG is a fuel that can be used in the place of Premium Motor Spirit, popularly known as petrol. It can also be used in the place of diesel and Liquefied Petroleum Gas.

Speaking on what the Federal Ministry of Petroleum Resources would work on this year during a press conference in Abuja, the Minister of State for Petroleum Resources, Timipre Sylva, stated that the Federal Government was working for the passage of the Petroleum Industry Bill before May.

He further stated that moves by the Federal Government to recover $62bn from international oil companies were seemingly impossible, as no such money was sitting anywhere to be harvested by the country.

Sylva further declared that the Nigerian oil and gas sector was retrogressing, particularly when compared to the oil sector of other nations.

He stated that the use of petrol had caused a serious drain on the finances of the Federal Government as a result of the continued subsidy on the commodity.

Explaining how the government intends to crash petrol prices, Sylva said, “When you say we are thinking about reducing the pump price of petrol, I could easily say yes. Why I could say yes is because we are looking at giving the masses an alternative.

“Today, we are using the PMS but what we want to do, going forward is to see that we are able to move the masses to the CNG. If we take all transport vehicles to the use of the CNG, you would have impacted the poor positively.”

Sylva said findings by the government showed that the CNG cost less than the subsidized PMS and that once the CNG was fully deployed, the price of fuel would crash.

“The subsidized rate of the PMS per litre is N145 but the CNG cost between N95 to N97 per litre and that is why I said that we want to reduce the cost of fuel,” he stated.

He said Nigeria had abundant gas and that deploying the CNG would not be tough for the country.

“Nigeria’s gas reserve is significant. Nigeria currently has estimated 202TCF (trillion standard cubic feet) of gas, with a projection of 600TCF,” Sylva said.

On the PIB, the minister said, “We are optimistic that both the Petroleum Industry Governance Administration and Host Communities Bill, on the one hand, and the Petroleum Industry Fiscal Bill, on the other hand, will be passed within the first anniversary of the second tenure of this administration.”

Commenting on moves by the Federal Government to recover $62bn from international oil companies based on an October 17 judgment of the Supreme Court, Sylva stated that it was practically impossible to recoup such funds from the IOCs.

He declared that no $62bn was anywhere for release by the IOCs and explained that it was best for the government to sit and discuss with the oil firms on how to go about the issue.

The Federal Government had through the Office of the Attorney-General of the Federation written to the IOCs, demanding various sums of money on the basis of the Supreme Court judgment.

The court had ordered the Federal Government to recoup all revenues lost to oil-exploring and exploiting companies due to the wrong profit-sharing formula since August 2003.

Sylva said, “Yes there was a provision in the amended Deep Offshore Act, but when we had crude oil prices above $20 per barrel, the Federal Government should have asked for some form of an increase in its take.

“Unfortunately we didn’t activate that aspect. You will not blame the Federal Government or the oil companies for not activating that aspect of the Act. You will agree that $62bn could not have been sitting somewhere for us to harvest; it is not possible.”

The minister stated that Nigeria was retrogressing in the oil sector, particularly when compared to other nations that started at similar times with Nigeria in the oil and gas business.

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Ghana Emerges 3rd Most Corrupt Country In The World

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Ghana has emerged as the third most corrupt country in the world in the most recent version of Transparency International’s Corruption Perceptions Index.

The West African country scored 67 points in the rankings released earlier this week.

Another African country, Kenya, also made the top 10, occupying the 8th position with 53 points.

Colombia is perceived to be the most corrupt country in the world, according to U.S. News’ 2020 Best Countries rankings, a characterization of 73 countries based on a survey of more than 20,000 global citizens.

In the survey, respondents answered how closely they related each of the countries to the term “corrupt”, the exact meaning of which was left to their own interpretation. The attribute is factored into the Best Countries rankings for transparency, as well as the best countries to invest in and headquarter a corporation.

Colombia, which sees an estimated $14 billion a year in corruption-related costs, experienced a wave of anti-government protests starting at the end of November. A new set of strikes could ensue after protest leaders meet with government officials later this month.

While the country is known for its decades of political scandals, voters recently elected Claudia López, a member of Colombia’s green party and a prominent activist, as the mayor of Bogota. López is the first woman and openly gay individual to become mayor of Colombia’s capital city.

Mexico, known for its deadly drug cartels, follows Colombia as the No. 2 most corrupt country in the 2020 ranking. Myanmar, Guatemala, Saudia Arabia, Brazil, and Bolivia also made the top 10.

Russia, which has been accused of election meddling and Olympic doping, joins the top 10 list this year after placing No. 12 in 2019.

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