Yar'adua Declares His Assets

True to his world, Yar'dua has declared his asset to the code of conduct burea.
He is worth about 769 million naira.  Will other leaders in the country follow suit?

Yar’Adua: I’m Worth N850m

he served in the board of some banks, other investments and plus his brother was the in charge of lagos for a while

it must be said that what Yar'adua has done is generally commendable, declaring his assets and all. however, i think those figures don't just feel right to me. why would a house be costed at N120 million naira when he has evidently not gone into any such venture that would have yielded the sort of funds being recounted. N769 million isn't small money at all. in other instances, i  also feel some of his properties were overvalued, probably to create room for any other expenses.

By the way, why did he declare the assets of his three wives? is he required to do that? how does it concern Nigerians if his three wives own buildings whose prices had a N1 million naira consecutive difference? totally unnecessary, because it won't make any difference.one might say he is doing all this to show truly that his government will be of a transparent nature, but then the 'good boy' and 'peace-loving' image being created is getting old. Still, all things considered kudos to him for what he did. let's hope others would emulate his worthy example.

I have never doubted the credibility of this man. Though the process by which he was elected (selected) was fraudulent but I think he should be forgiven (though he was not involved in the "iwuruwru sha). He has shown us that he is ready to work for our father land.

I do not think the figure was much at all because he also stated that he has well over 2 million shares in 3 companies. Besides, he served on the board of some companies before joining politics.

If somebody like Andy Uba is worth one trillion naira after serving as a special adviser on domestic affairs to baba, then i don't think Musa's figure is much at all. Let us support this gentle man please.

KokoA

I beg to disagree, if Andy Uba made his 1trillion Naira through illegitimate means and Yaradua made his 769million through illegitimate means they are both criminals. There is nothing like small or big fraud nor small or big embezzlement in the constitution of our country.

People should stop eulogising politicians merely because they declared assets, the rapid change between his present figures and the one he declared in 1999 demands some explanation in a country where commensurate economic growth was not recorded between this time.
So may be those who accuse him of giving most State Government contracts to family owned bussinesses are not wrong afterall.

At the rate we eulogise people for merely declaring their loot, if before seeking 2nd term in office Yaradua declares 10 trillion Naira we will still eulogise him for declaring.

@ Mc kren

My brother, if the man left about 30 billion naira in his state treasury when other governors left in debts, what else do you want me to say? Where did his "loot"(as you said) come from?

See, nigeria is a country where you have to be rich to play politics, so the fact that your president is a rich man should not draw any controversies at all. If you can prove to me that Musa looted Katsina state then I will withdraw my statement and call for his head.

Obong


Verify your post before sending next time. The guy retired from lecturing long ago to joing the private sector, serving in the board of different companies and purchasing securities long before joining politics.

We nigerians are never satisfied for once. Obj never declared his assets and no body quesioned him, now because declared his asset and happen to be a rich man, you call him a thief. It is unfair. That means all the rich men in your country are theives abi?

if he didnt you will crucify him. he promised to declare his assets now he did.

with the freedom of information bill which he promised will be looked at; you can ask him how he became richer. i don't know how much he declared previously but with the nigeria stock market oh boy  

http://www.thisdayonline.com/nview.php?id=82261&printer_friendly=1

Yar’Adua: I’m Worth N850m
From Josephine Lohor in Abuja, 06.29.2007

For the first time in the history of Nigeria, a sitting president has made his asset declaration public. President Umaru Musa Yar’Adua, in fulfilling a promise he made earlier to the nation, yesterday released for public knowledge details of his assets declaration as contained in Form CCB1 submitted to the Code of Conduct Bureau as demanded by the Fifth Schedule of the Constitution.
This is expected to put a moral obligation on other public officers, especially state governors and ministers, to follow suit, although the Constitution does not make public declaration of assets compulsory.
Yar’Adua had also blazed a trail in 1999 by making his assets declaration public when  he assumed office as governor of Katsina State, a tradition he continued when he was re-elected in 2003.
The President declared a total assets value of N856,452,892, including N19 million belonging to his wife, Turai. He confessed that in the last one month since he was sworn in, he had faced the dilemma of whether or not to make his declaration public. He eventually decided to do so despite the fact that the Code of Conduct Bureau “counselled against the move on the grounds that such an action would put pressure on other categories of public officials to do same even when the Constitution makes the exercise a confidential matter”.
Shortly after winning the presidential election last April, Yar’Adua had told  a newspaper that he was worth “around N500 million”, although with a caveat that he needed to crosscheck the figures to be cocksure.
Special Adviser to the President on Communi-cations, Mr. Olusegun Ade-niyi, who released details of the President’s assets to State House correspondents yesterday, stated that “having weighed the two sides, the President has come to the conclusion that since he will not be breaking any law, he cannot go back o his promise to the nation”.
According to the details obtained from a copy of the assets declaration form “dispatched” May 28, 2007, President Yar’Adua has no foreign account or foreign assets, but has liabilities worth N88,793,269.77, being outstanding loans secured with the Unity Bank Plc, Imani Estate branch, Maitama, Abuja .
The President’s assets include remunerations, savings, campaign donations, post-campaign contributions, buildings and vacant plots of land, farms and orchard, cash at hand and vehicles, while the bulk of his assets as at yesterday, were listed under the remunerations, savings, campaign contributions, post-campaign contributions and 29 campaign vehicles located in Katsina and Abuja.
The total annual income from his assets is put at N18.7 million while his wife has a total annual income from her assets at a value of N132,000.
Mr. Adeniyi said that the President’s declaration “was borne out of his conviction that the war against corruption cannot have meaning until those at the helm begin to live by example”, adding that Yar’Adua would work with the leadership of the National Assembly “to see what can be done to make assets declarations an effective weapon in the fight against corruption and abuse of office”.
A breakdown of the assets declaration shows that the President has a total of N43,702,892.43 as cash at bank, being remuneration, savings, campaign and post campaign contributions lodged with the Bank PHB in accounts with numbers 03710001531, 055100 000100 and 042100000041. Details show that while a total of N26,602,681.00 stands as credit at the Bank PHB, Nagogo Road , Katsina State  branch; N12, 000,264.21 is in the Apapa, Lagos State branch. Also, a total of N4,999,947.22 is at the head office of the bank in Kaduna .
The President declared N7.5 million as cash in hand which he recorded as being derived from savings, campaign and post campaign contributions. The President declared a total of N88,793,269.77 as his liabilities, being cash in Nigerian banks as loans and debit at the Imani Estate, Maitama, Abuja branch of Unity Bank Plc (formerly Intercity Bank) worth N26,817, 362.19 in account number 0173362/001/000 and another  N61,975,907.58 in the same branch of the bank in account 017336200100 respectively.
President Yar’Adua also declared a total assets value of N577,000,000 under buildings, vacant and undeveloped plots sections. This include the Yar’Adua family compound at Yar’Adua Quarters in Katsina State, valued at N105,000,000. This was acquired through inheritance in November 1997. There is also multi-storey building at A8 Wuse 2, Abuja with total value of N212,000,000. The land was granted by the Federal Government to him in 1988.
There is also a duplex at Malali, Kaduna State with a value of N120,000,000 that according to the President was originally a three-bedroom bungalow and a gift from his late senior brother, Major-General Shehu Musa Yar’Adua and another 7-bedroom duplex at 2 Lema Jubril Close valued at N90,000,000 that was built from savings in 1987.The President also declared that he has a vacant plot at Asokoro New Layout in Abuja valued at N50,000,000. This was granted by the Federal Government to him in 1998. He also declared two farms worth N25,000,000 in Katsina State . they include the one at Ruwan Godiya in Faskari Local Government of Katsina State valued at N10,000,000. This was acquired in 1982. Another farmland and orchad is also located at Ajiwa, Batagarawa Local Government in Katsina State and is worth N15,000,000. It was acquired in 1993.
Under shares, debentures and other securities in and outside Nigeria, President Yar’Adua declared that he has 2,000,000 units of shares of Habib Bank acquired in 1998 which is in the process of being converted to Bank PHB; 100,000 units of shares of Intercity Bank Plc also in the process of conversion to Unity Bank Plc and another 100,000 units of shares of Muradi Hotels Limited.
While disclosing that he has vehicles worth N181,250,000, the President stated that he has 29 new cars worth N174,700,000 in both Katsina and Abuja that he described as campaign vehicles, adding that he owns a Honda Accord car worth N350,000 and a Mercedes Benz worth another N6,500,000.
The President added that the First Lady’s assets are made up of three local houses worth N1,5000,000 acquired in 1998; one twin bungalow valued at N15,000,000 located in Kofar Kaura layout in Katsina State acquired in 2002 and three vacant plots in Katsina acquired in 2003 worth N2,500,000.
He also disclosed that household furniture in Katsina acquired when he was a director of Habib Bank is worth N3,000,000.
Mr. Adeniyi also spoke on the position of the Freedom of Information Bill during his maiden press briefing at the State House. “The President is equally interested in discussing with the National Assembly leadership on the Freedom of Information Bill which lapsed with the last administration, with a view to ensuring quick passage in pursuit of his determination to instil transparency and accountability in the conduct of government business,” he said.
Former Vice President, Alhaji Atiku Abubakar, also made his assets declaration public in May 1999 shortly after he was sworn in, although when he was re-elected in 2003, he did not make any public statement on it again.

I give Yaradua thumbs up.


We can safety calculate the wealth he has amassed  during his tenure if he does the same thing when he leaves office. Most corrupt leaders would not do that.

Think we should commend good efforts in the right direction. OBJ or Mr Odilli for example would never done this.

Please don't forget Mr Yaradua is from a very rich and influential family and some of the =N=769m could be inheritance. I can't vouch for the man's source of wealth obviously, but he seems to me to be honest.

It's good to know that something positive is happenin 2.Yaradua I hail oooooooooooooooooooooooooooooo

This is the first time anyleader in Nigeria would be declaring his assets publicly. the Bill was passed during OBJ administration and he refused to sign it. why didnt we all complain then.

i believe this will put pressure on other leaders and believe me, many Nigerians will be SURPRISED when they find out what these croks are worth.

Yar'adua's assets are pretty modest (judging from his background in business).

The only time we would be able to judge him properly is halfway into his tenure (if he declares assets again) He should be able to give substantial records as regards his assets by then and if nothing fishy is found., then we hail him.

however,  right now, our President has proved that leadership is by example! this singular act gives me HOPE ,,,so much HOPE!

@mckren- please keep your cynicism to yourself!

@kokoA- thank you very much, my guy. please we should hail our presido for taking such a bold step. u think he made an easy decision? i believe it would have been much easier for him to avoid it. and according to the "thisday story", he was even adviced by the code of conduct bureau, not to do it! but he insisted because, "he had promised the nation". now thats a man that keeps his word. presido i hail!!!!

This is very good for the Nation,We can now see the different when an Educated person is president and when an Illiterate is president.

His wealth is mostly Inheritance from his father and senior brother.

Even his wife has nothing compare to Peter Odili's,Orji kalu's mother,Tinubu's wife and all the past Governors wifes.

Really this is when EFCC will start their operation SWEEP the NATION,OBj and Atiku should be on the run ooooo,Yaradua is using Diplomacy as an Educated man,so no one will question him when EFCC will visit all the corrupt learders.

I love him, I hope,pray and wish him well. he may be the Messiah we have been loking for,the moses that will take us out from the land of Egypt

thisDay says 850M,  www.punchng.com says 945M, which one we go beleive?

Yup it's rubbish, if he had not declared his assets, that would have been rubbish too. Anything that comes out of Nigeria is rubbish.

People are insulting this man for doing great things, when American politicians like privates Cheney are US Dollar Millionaires.

I don't think it is acceptable for people, to speak without relevance or explanation. Such statements are only a stones throw from Treason.