ThatFairGuy1:

Oga don't venture your Anger on me . Of course it isn't a yardstick. At least, you know where he has worked

baby124:
I know someone who was a huge oil company director in the US but can’t afford to buy a house in Lekki in Nigeria till he moved to Nigeria and became MD. Even then he’s paying the house off slowly. Please some of us actually know executives in the oil industry. He’s by far your senior and a bonafied oil executive.

SIRTee15:


My father in law retired as a snr engineer in total...
The man has 2 houses in Canada, one of them is a huge farmland....
If u see his house for port Harcourt...the thing be like hotel....
The man has numerous other houses in PH.
His colleague's house in same PH is a massive estate. His sitting room alone is a fully detached 1 storey building...
There's money in oil industry ..never underrate that sector at all.....
My own uncle bought an estate in Texas b4 he retired from NNPC.....

I have no doubt ajimobi can acquire all this assets as a retired oil company snr staff....
All these accusations are just witch hunting and chasing needless clout.....

Let's criticize him for his mediocre performance as gov. of Oyo state.....
His failure to build a world class hospital in the state...
Failure to transform the state into a true pace setter....
Not all these inconsequential paid smear campaign....

baby124:

Smh... I am done arguing with you. A teenager like you was vouching marked WAEC papers I. 1999? How old are you uncle. Lmao. Please and please. That $600k is current compensation not compensation as at 2002. OBJ and GEJ’a inflation has hit. Go and find out what nurses in government employment were making and come back. Was National oil not substantially owned by Nigerian government?

enyojo:


Try compare the worths of his houses in Lagos, Abuja and other places with similar mansions in CASTLE property magazine and you will see that he is within acceptable limits.
This man is even richer than many sitting dubious Governors

ThierryJay:


What has my age got to do with this? I see you are rather emotional than factual. If not you would not tell me to go and find out information elsewhere when my own mum was a nurse working with the State Government then.

Do you not know that the value of Ajimobi's earnings in 2002 is much greater than the same amount of money in 2011? Do you understand the concept of revaluation at all? And I have already roughly adjusted for inflation in my analysis. Assuming Ajimobi even earned $200k in 2002, is it not much more higher in value in Nigeria than someone earning $600k currently So what then do you mean by OBJ and GEJ inflation has hit? Did it hit the value of Ajimobi's earnings back in 2002? If anything the inflation had helped to push the value of Ajimobi's assets up by 2011.

You need to understand basic economic concepts first. There is a difference between earnings and assets value. Go and learn that first and come back to the table for discussion.

Jarus:


God bless you.

I’m not even saying this guy did not steal as governor. I’m only saying it is possible for an oil executive to be that rich before he became governor. And as at the date of declaration, he had served as a one-term senator.

I didn’t even know before now that he owned (had share in) Network Petroleum which is one of our JV partners.

baby124:

You write too many epistles. Shorten your posts please. Some of us have jobs and we are busy. We don’t sit on the internet supporting criminals and trying to cast aspersions on valid questions that people have.

baby124:

Ok. Bring proof that you are not a paid puppet. Ask your father in law if he made all those investments from his salary. NNPC employees and reknowned thieves. Their mates in the home countries of these companies cannot boast of such investments. If all these people were investigated do you think they will come out unscathed?

tot:


Nigerians deserve the bunch of rubbish leaders they get. The comments on this thread show as much.

989900:


Ode, even now farmland at Ido is less than 400K/acre. Do your research instead of coming online to defend your oppressors.

shukudi:


[s]Who are your oppressors?
You are only oppressed if you do not know your left from your right[/s].

calculator123:


How many oil executives both past and present can boost of such networth?

Don't tell me they all didn't channel it wisely.

tot:


It's people like you that don't cease to amaze me. Stop beig ridiculous, Shell is not anyone's father's company. It is a SALARIED job and as well paid as it is, these figures do not match up. Not everyone is ignorant.

leaculpa:

Its clearly written there dt he owns an oil company too. So he was definitely no longer a salaried employee. With all these assets he is still not as rich as most big players in the oil sector. Do you know how much dapo abiodun is worth?

Also its been rumoured that he owns a refinery in Lebanon through his wife's family. I don't know how true dt is but I don't doubt it.

baby124:

Go and ask your parents how much they were earning 26yrs ago even up to the 2000’s. Some of them were earning 500 naira monthly 20yrs ago with big positions. Why do you think most of them die poor because their pensions are not adjusted for inflation and they lost all they had through bad government. Then Babangida and Abacha did their thing and all their money was worthless. See I don’t have time right now to go through your post. If I do, you will not like it. But keep supporting rubbish that you can see clearly is bad. May you not grow old and these types enter your account to steal all your pension. They are already running away with pension they can grab. Soon they will come for your account and even the house on your head in old age.

He did not work with Shell. He worked with National Oil.

leaculpa:

Its clearly written there dt he owns an oil company too. So he was definitely no longer a salaried employee. With all these assets he is still not as rich as most big players in the oil sector. Do you know how much dapo abiodun is worth? Lets not even call them sayyu dantata & tonye cole?
Way way more than this.

In case you don't know, the small oil retail business dt psquare went into is what gave them money to build all those their mansions in ikoyi. It wasn't just music money o.

Crispels:


God bless you. If Dapo Abiodun should declare his assets, many people will run away from social media out of shock. I once worked on a report about one of his companies and I was shocked. The guy has more than one private jet self.

I'm not trying to justify political criminals but most of those arguing on this thread don't know how things work in the corporate world - particularly in the energy and banking industry.

SAKUR:
Oyo State Governor Abiola Ajimobi on Sunday made public the assets declaration form which he deposed to shortly before his inauguration as governor on May 29.

Making the content of the form public on behalf of his boss, the governor’s Senior Special Assistant on Public Communications, Dr. Festus Adedayo, said the step was in line with Ajimobi’s promise to commence a government that lays store by transparency and accountability in the administration of the state.

Adedayo said the governor deposed to the Assets Declaration Form for Public Officers at the Registry of the State High Court, Ibadan, before Justice Ladiran Akintola, on May 27, 2011, two days before assuming office.

The assets declared, according to him, include cash in local banks, buildings, vehicles, business enterprises and household items.

According to the form filled by the governor, the total amount of cash he has in banks in the country is N292, 432, 107.00 while he has none in any foreign account.

The governor also declared that he had a mansion in Ibadan worth N250m, a building in the same city worth N150m, another one with the value of N300m in Lagos, as well as a detached house worth N300m in Abuja.

He added that he had a flat purchased through mortgage financing worth £450,000 in the United Kingdom, another worth £1.95m, purchased through mortgage in the UK and another house worth $1.5m in the United States of America.

Ajimobi also declared that he owned 131 acres of farm land in a village at the Ido Local Government area of Ibadan worth N150m, two Lagos-based companies, Viz Grandex Nigeria Limited, worth N200m and Network Petroleum Nigeria Limited, worth N260m.

The governor put the worth of all his vehicles at N94.25m and household furniture, which include generating sets and electronics at N25m.

The governor also declared that his wife, Mrs. Florence Ajimobi, possesses a house in Ibadan that is worth N15m and another in Lagos that is worth N250m.

Adedayo said the new government of Oyo State laid great store by probity and accountability, and was of the belief that the patrimony of the people must be guarded jealously as the governor would give account of all that was entrusted in his care, not only to the people of the state who voted for him in the April elections, but to God “the ultimate judge” who would request for an account whenever the governor finishes his assignment on earth.

Ajimobi is the first governor of the state to publicly declare his assets

http://www.punchng.com/Articl.aspx?theartic=Art201107042401971

Oh boy see money! How can we be sure he is worth this much? Abi did he 'amplify' his net worth with the aim of 'filling in the blanks' during his tenure as governor?

baby124:

Ok. Bring proof that you are not a paid puppet. Ask your father in law if he made all those investments from his salary. NNPC employees and reknowned thieves. Their mates in the home countries of these companies cannot boast of such investments. If all these people were investigated do you think they will come out unscathed?

Crispels:


Thierry Jay is absolutely right. Ajimobi most likely stole as a public servant but the declarations he made in 2011 are not beyond the reach of a former oil executive.
Before moving to the US, I worked closely with some of these executives and virtually all of them have assets that are similar to what Ajimobi had. They all have houses abroad.

I'm not defending Ajimobi here - I know he is one of the corrupt political class that has held Nigeria back. However, based on what I know checking the books of different oil and energy companies, a former executive can definitely amass assets worth at least 5billion naira.
There are a lot of benefits, emoluments and ”profit-sharing” that make it possible. Most of these executives invest these funds in shares and stocks. I know of one executive whose income from shares and stocks pay him more than his basic salaries.
It's down to career trajectories and how wise you are(investments) like Jarus pointed out.


And to tot listowell felix10 and others. There are ways investments in assets work. Let's assume that before I left Nigeria, I bought a land worth 1million naira. 5years later - the land could be worth 8million naira. If I have to publicly declare my asset - I will have to declare the value of the land as 8million naira and not 1million naira. That also does not mean I paid 8million naira to purchase the land.

During the 2008 financial crisis here in the US, houses that are normally sold for $500,000 were sold for less than $200,000. Some of those houses are now worth $800,000. Assuming I bought a house for $120,000 in 2009 and it's now worth $850,000, does that mean I stole money to purchase the house or I purchased beyond my income?

These are basic laws of economics and asset ownership. That a former oil executive own assets worth 10billion naira does not necessarily mean he earned 10billion naira basic salary during his career. That is where investments and assets ownership come in. Anyone who knows what the ”top” looks like in the banking and energy industry will understand this.


NOTE: I know Ajimobi was a corrupt politician but my point here is that all the assets listed here are not beyond the reach of oil executives and investors. He could have acquired these assets even without holding any political office.

Boyolity:





Don't be a liar, he never publicly declared his assets.

tot:
Bunch of fools justifying why their looters should own the assets they own. Why not sell all you have as well and hand them over to their families in addition? Don't just sell your past, sell your futures too.

Rubbish.

Jarus:


When people have lost it, they resort to insult. But it’s OK.

FYI, you dont detest corruption or hate these politicians more than some of us. But some of us only chose to criticize objectively, based on facts.

I have never said Ajimobi did not steal as governor. I only said it is possible to have these assets as at 2011 when he declared them. Simply based on information, facts and logic.

baby124:

Can you imagine

Nigerian men! Shame on you!!!! These useless old men are using your face to rub shit. Some of you still come here and defend them. You are one job away from jumping on the boat to Europe to go and be come a nuisance! Cold has even killed some of you in that quest and you cowardly make excuses and support such obvious nonsense? A man has no honor outside his homeland, Nigerian women are better off and more respected outside this country. Think about that when you feel you have another option.

When you run Helter skelter and they disrespect you, then you will know what we are talking about. In the West, black man is the most degraded so you better fight for your home and make it better. Not make excuses just in case you find yourself in political position in future. Why do you think most of your brothers are abroad doing Yahoo? Because as black men the system discriminates seriously against them! You will never know this till you relocate! Nigeria is all you have. Don’t let some deranged old men rob you of your dignity and fall for their paid puppets.

Oh boy see money! How can we be sure he is worth this much? Abi did he 'amplify' his net worth with the aim of 'filling in the blanks' during his tenure as governor?