Ogun State Governor, Otunba Gbenga Daniel Declares N4.46 Billion As Personal Asset
Here we go again

The Ogun State Governor, Otunba Gbenga Daniel, put his total assets in May, 2007 at N4.46bn. He stated that his assets on assumption of office as the governor of the state in May, 2003 stood at N5.96bn and between May, 2003 and May, 2007, there was a loss of 25 per cent to his assets and put his present liabilities at N364,000,000.

His bank balance and cash, which was N138,100,000 in 2003, had reduced to N25,301,650 in May, 2007.

He disclosed that assets consisted of those that were personal to him, companies he and his wife, Chief Olufunke Daniel, had interest in as well as his wife’s personal assets. His wife’s assets in 2003 were worth N99,000,000 and N157,700,000 in May 2007.

A further breakdown of the assets:

His bank liabilities and collateral in May, 2003 was zero but stood at N280,000,000 in May, 2007.

His total investment in foreign banks in 2003 was N497,070,000, and that in May 2007, he did not have such investments

Value of his foreign properties in 2003 at N376,050,00 and in May, 2007, they stood at N733,750,000.

His property in Nigeria was at N400,000,000 in 2003. He indicated that the property had increased to N555,000,000 in May, 2007.

His vehicles were worth N104,000,000 in 2003 and had increased to N147,400,000 in 2007.

http://www.punchng.com/Articl.aspx?theartic=Art2007071610281168

How much is your yearly salary as a governor?

My people go use laugh kill me.

Big B1:

How much is your yearly salary as a governor?

BIG B based on this declaration , the governors are just writing the checks   some don't even know how much they make . Its too overwhelming. We are all very well aware that he has more than what he declared. Have you noticed how quick our politicians claim that their wives have Billions makes me wonder what royal family they all married from??

Where is the source of this story? Why can't you people just post your sources? This is really annoying.

Posted by Seun

Where is the source of this story? Why can't you people just post your sources? This is really annoying.

Mr Seun, take it easy.

the guy had N5.96bn before he became governor, so he's actually not gained personal wealth in 4years,

Colonia:

Have you noticed how quick our politicians claim that their wives have Billions makes me wonder what royal family they all married from??  

True talk my brother. Nigeria should reach the stage where not being a public servant is not enough reason for people to claim stupendous wealth. We all should be able to defend our source of income. These wives in question should tell us how they came about this wealth i beg.

Gbenga Daniel I can vouch for. He was running a well established international business before he came to run for governorship. Lemme go and search google.

His current salary as governor is far less than what he was making as a business man.

Na wah for Nigeria O! Do you guys remember that Harry Akande wanted to become president of Nigeria? With his billions of dollars, am sure if he'd been the one quitting office May 29th with a total asset in billions of Naira, Nigerians would have still shouted. You must enter a pauper and leave a pauper or enter a billionaire and leave a pauper. That is the way of the Nigerian Government official.

what should be investigated is the veracity of the claim of 5.96bn in 2003 before he became governor. If that is proven true, then it would not be amazing that he he suffered a depreciation of 25% in his net worth since then.

Granted he had businesses and assets and all that, but were they worth what he claimed? Do his tax returns and filings at the Corporate Affairs Commission match what he has declared? These are the aspects we need to look into, not the usual emotional responses. Without that, we'll never be able to distinguish between fact and fiction.

repeat post

denex:

His current salary as governor is far less than what he was making as a business man.

well said,

moreover, he wont need to touch his salary because the state pays all the expenses (food, transportation, accomodation and all) so he can reinvest ALL his salary, also, a lot of influence comes 4rm being a Governor that can produce wealth, im not sayin he didnt divert public funds, all im saying is that bein a Governor and being a Billioniare are mutually exclusive

The source of the wealth should also be examined. Afterall he could have been an advance fee fraudster!

Gbenga Daniel is one of the untouchable class, why are you guys wasting your time to talk about his asset declaration.  The issue should be how much was he worth before he became a public figure not how much he is telling us he is worth now.  Remember all gifts and kickbacks are not part of asset. lol

of course the source should be investigated, his company annual filings to the CAC, as well as income and corporate tax returns should give and indication of that.

@ mamajama based on his assertions, he is worth less than he was before becoming governor, the truth in that claim is unknown at this moment

denex:

Gbenga Daniel I can vouch for. He was running a well established international business before he came to run for governorship. Lemme go and search google.

Does it have a name or fall under any sector?

And again this is Nigerian media i wont trust anything coming out of this speculation

denex:

Gbenga Daniel I can vouch for. He was running a well established international business before he came to run for governorship. Lemme go and search google.

His current salary as governor is far less than what he was making as a business man.

Na wah for Nigeria O! Do you guys remember that Harry Akande wanted to become president of Nigeria? With his billions of dollars, am sure if he'd been the one quitting office May 29th with a total asset in billions of Naira, Nigerians would have still shouted. You must enter a pauper and leave a pauper or enter a billionaire and leave a pauper. That is the way of the Nigerian Government official.

I would thread softly with this, because we have been lied to for many years and all these assets declaration, who is actually confirming that the stated income etc is true. Is there a body in Nigeria that looks into public office holders assets ? Or is it just a matter of whatever they declared ?We are been enslaved by our own people right here in Nigeria. Everybody mentality is all screwed up because of poverty, some had to run to our old masters ( Oyinbo) for survival. It is time for a change . Lets us face it and i have said it before until we Unite and stop been self centered things will never change.

@ Dis Guy

He is into equipment supply - specifically elevator systems, I also think his firm Kresta Laurel does some civil engineering work as well, they have a building at Maryland in Lagos, and a branch in p/h last I checked, a friend of mine worked there for a while.

As to a body looking into the assets, I would believe that to be part of the duties of the Code of Conduct Bureau, since they receive the asset declaration forms, but I cannot say with certainty that it falls under their mandate or whether such examination is involved.

By the way, he wholy sponsored his first campaign and candidature in 2003 because the PDP did not envisage winning Ogun and Lagos, so there was basically nothing from the party. He was on his own. Nobody put him where he is today, he just chooses to respect OBJ and others because they are his elders.

@Dis Guy

Kresta Laurel installs elevators and escalators in corporate buildings.

There were other Kresta companies he had and there were Laurel companies owned by his wife, but Kresta Laurel was the major money raker.

Na wah for Nigeria O! Do you guys remember that Harry Akande wanted to become president of Nigeria? With his billions of dollars, am sure if he'd been the one quitting office May 29th with a total asset in billions of Naira, Nigerians would have still shouted. You must enter a pauper and leave a pauper or enter a billionaire and leave a pauper. That is the way of the Nigerian Government official.

As per Harrys billions they exist only in the figment of his imagination~
Concerning Daniel ~hmmn he cannot say hes not enriched himself so far!Nigerians are not that altruistic as regards public service.
Let him go down memeory lane and list his material wealth and how they came about to be acquired if hes that emboldened!

This seems to be the trend. Let me just declare my assets no matter what, foolish Nigerians will see that as being honest. That way I am free to steal again. The question everyone should be asking is were did the Guv get the money from ? How ? a proper audit should be done. He said he had +5.bn be/4 he came into power and now has +4bn, Well did he declare his assests the first time round.


I think this whole thing is a stupid joke, and Nigerian's should not take them serious

Otunba Gbenga Daniel was the Deputy Managing Director of H.F Schroeder and Chairman CEO of his very own Kresta Laurel for 13 years before finally becoming a governor in 2003.

The first WAS a billion-dollar company that is no more doing so well. The second is a billion-naira company that is gradually beginning to perform poorly too.

Evidently, the absence of OGD is a great loss to any organization. I hope the indigenes of Ogun start grooming a proper replacement for him right from now.

By the way, he wholy sponsored his first campaign and candidature in 2003 because the PDP did not envisage winning Ogun and Lagos, so there was basically nothing from the party. He was on his own. Nobody put him where he is today, he just chooses to respect OBJ and others because they are his elders.

Like I said before Kresta Laurel offers premium service in the acquisition and installation of lifts and escalators in corporate buildings. There are other smaller businesses own by Otunba Gbenga Daniel under the trade name Kresta and there are some companies owned by his wife under the trade name Laurel.

They have been running these companies successfully for up to 13 years before 2003 when Gbenga Daniel became Governor.

debosky & Denex, thanks

there's a lot of conflict in the facts and figures supplied by various sources. but that not withstanding, we should not bother ourselves about whether he has N4.46 b or N446b, we should focus more on how we will make our own millions and billions. talking from now to tomorrow will not change how much they claim they have.

@ debosky, Nice comments.

Gbenga Daniel should stop fooling Nigerians, if truly he lost 25% of his wealth while serving as a Gov. then why was he so desperate in winning the second term, which he eventually won. some of our politicians are a professional thief. Do you think any business man will seek shelter in a place where there is no reward? let him tell that loss to the marine. He's a rich man b4 joining Govt accepted but  his claim of loss is false, baseless and illogical because it is glaring that most of them enriched themselves by the virtue of their exhaulted office.

lakeshore:

we should focus more on how we will make our own millions and billions. talking from now to tomorrow will not change how much they claim they have.

Good advice but we need to keep it real ,its good to make money as long as we don't plan on looting like many.

I hope EFCC and Nuhu Ribadu did not hear this.

Ekenekwa m unu.

I just hope that now that Gbenga Daniel realises he's losing 1 billion every four years, he does not get tempted to pinch N2 billion from Ogun before his second tenure runs out. May his God strengthen him to resist temptation or he'll face EFCC in 2011. I still believe though that Otunba Gbenga Daniel also contributed state money to the 3
rd term agenda. But I doubt he channeled any money to himself.
@koko777

if Business people like Bill Gates, Ted Turner and Oprah Winfrey can give out a chunk of their total worth away, I see little logic in the statement you made about businessmen. That loss was a sacrifice he didn't know he was going to make but now he has to bear it anyway.

how does his assets declaration affect the price of boli and groundnut in the market?

OLE, AJIBOLE!!!!!!! what nonsense! How can these people just be talking to us like we just a bunch of fools. I mean, i really was disappointed when i heard the preposterous statement that he was worth a billion more last year. wat happened to that billion?
Guys, lets call a spade a spade, these guys are fucking us way deeply in d ass!!!!!!