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?

You can say that again.

proO1:

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?

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

^^^ Cut the bull. . . It is right to question this declaration since there is no way to VERIFY it. Every Tom, dic=k, and harry we have up there seems to be worth millions, even after months of campaigning, and you think it ain't right to question even the ones you have an attachment to?

I remember Jonathan Goodluck also claimed to be worth about the same when he took office, and we know of no records of his ever doing big business of any kind before 2007.

KoboJ, where did u hide na?

Stealing in anticipation. Typical Naija politician for sure

Seun:

Where did he make all this money?

. . .26 yrs of service in oil sector no be small thing o!

Isiaka Abiola Adeyemi Ajimobi (born 16 December 1949) is a Nigerian politician from Oyo State in south-western Nigeria. He was formerly the Managing Director/Chief Executive Officer of the National Oil and Chemical Marketing Company a subsidiary of Shell Petroleum, Nigeria. He left the oil sector in 2002 after 26 years, and was elected in 2003 as a Senator of the Republic of Nigeria representing Oyo South Senatorial District on the platform of the Alliance for Democracy (AD). After one term in the senate, he contested in 2007 for the governorship of Oyo state under the banner of the All Nigeria People's Party (ANPP), a bid which he lost.[1] He recontested again in the April 2011 elections under the Action Congress of Nigeria (ACN) and was elected Governor of Oyo State in a closely contested vote.[2]

@Seun, This is where he got his money from

So because you worked for Shell or whatever oil company for 26 years, you should be a multi-millionaire in dollars and a billionaire in naira? Were you a mere emploee or a part-owner/entrepreneur? How much were his salaries and benefits all through his 26 years as an EMPLOYEE? How much did he spend campaigning for the senate, the previous failed attempts to be governor, and the eventually successful campaign? If he is still a billionaire after all these money gulping campaigns, that means he must have been worth tens of billionns before entering politics? All earned through 'dint of hardwork'. . .as an employee?

A lot doesn't add up here. I always marvel at how Nigerians (especially ignorant females) tend to justify questionable wealth with silly rationalizations: 'oh he is a top bank manager' (does that explain how come he owns a N300m house in VGC?); 'oh he works in NNPC' (is that enough for him to have 4 kids in foreign universities, and a house in Maitama?). It is only in Nigeria that someone retires as an employee with whatever company or government agency and is suddenly worth billions. How? Did the company allocate substantial shares to him (like is the case with CEOs of Fortune 500 corporations)? This country is just a huge joke. . .corruption is the very life blood of the nation, and almost everybody is involved - directly or indirectly.

I remember Ajimobi also headed SHELL Togo for a few years before retirement. He was in Senate too. I think his worth is reasonable.

enyojo:

@Seun, This is where he got his money from

Do you really believe that nonsense? Seriously, why in the world are you being PARTIAL for pete's sake! There are people who have worked in high office in Shell and so many other Foreign companies in Nigeria who do not claim even 1/4th of the amount Ajimobi claim's as his worth. These are people who are not even in politics and have not had to spend millions on campaigns. Since when did you become his personal secretary ? By your logic, are we to also believe that Jonathan Goodluck made almost 200 million naira working as a college professor, and then a deputy governor for almost 8 years? COME ON!!

Ordinary clerk in Federal ministry of works who is fortunate to be carrying files where Egunje flows regularly can have  houses in UK and US easily.

Kobojunkie:

Do you really believe that nonsense? Seriously, why in the world are you being PARTIAL for pete's sake! There are people who have worked in high office in Shell and so many other Foreign companies in Nigeria who do not claim even 1/4th of the amount Ajimobi claim's as his worth. These are people who are not even in politics and have not had to spend millions on campaigns. Since when did you become his personal secretary ? By your logic, are we to also believe that Jonathan Goodluck made almost 200 million naira working as a college professor, and then a deputy governor for almost 8 years? COME ON!!

Can't understand how you guys/babes staying overseas view millions and billions in Nigeria.
To have N292.4 mill sitting in a bank account is not as hard as many of you imagine. Most especially when that person in question has been MD?CE of a multi-billion oil Firm. To me, owning a house in UK isnt a heck of a deal.
As for GEJ, he has never been a College professor, he has been a Lecturer in a State University in Rivers state. such a man coming accross that amount is suspect.

proO1:

So because you worked for Shell or whatever oil company for 26 years, you should be a multi-millionaire in dollars and a billionaire in naira?

In a nutshell, yes. My older relative recently retired from working at a similar oil company and got a retirement package of several hundred thousand dollars.

And he never reached Ajimobi's level, yet is almost certainly worth $1 million+.

enyojo:

Can't understand how you guys/babes staying overseas view millions and billions in Nigeria.
To have N292.4 mill sitting in a bank account is not as hard as many of you imagine. Most especially when that person in question has been MD?CE of a multi-billion oil Firm. To me, owning a house in UK isnt a heck of a deal.
As for GEJ, he has never been a College professor, he has been a Lecturer in a State University in Rivers state. such a man coming across that amount is suspect.

What has imagination to do with anything? The fact is there, in Nigeria, are people who have worked longer at high positions in the same Shell, Government, who cannot claim to have the same amount SIMPLY FOR WORKING in those offices. You only need to use your head a  bit more on these things. Following your assumptions of this man, then there should be more multi-millionaires out in Nigeria who are worth about the same as this man simply because they held high office in one oil company or another. I particularly know of one man who worked for over 30 years in an oil company, and could not boast of even 1/10th of the amount you pretend all directors in shell should have made.  

You don't just conclude that because someone works as a director in a high position at Shell, or as a senate AUTO-MAGICALLY means the person is worth Millions. That is the mentality that continues to allow them rob Nigeria daily of money that ought to go to doing work for us. Many of you automatically BELIEVE that those who work in high office are Worth MILLIONS without even taking time to research their actual pay to find out facts, and remove it all from fantastical reason that prevails.

By your mentality there, this man is OK to claim upwards of 600 million come next election, is that not so?

Goodluck was not a lecturer with a PHD? Regardless of which word you chose, it was part of the justification we got from people, speaking as you are now, to justify his almost 300 million claim. You think what you are doing now is any different from what they did and continue to, I tell you you are wrong. What you are doing is just as terrible.

Kobojunkie:

What has imagination to do with anything? The fact is there, in Nigeria, are people who have worked longer at high positions in the same Shell, Government, who cannot claim to have the same amount SIMPLY FOR WORKING in those offices. You only need to use your head a bit more on these things. Following your assumptions of this man, then there should be more multi-millionaires out in Nigeria who are worth about the same as this man simply because they held high office in one oil company or another. I particularly know of one man who worked for over 30 years in an oil company, and could not boast of even 1/10th of the amount you pretend all directors in shell should have made.

You don't just conclude that because someone works as a director in a high position at Shell, or as a senate AUTO-MAGICALLY means the person is worth Millions. That is the mentality that continues to allow them rob Nigeria daily of money that ought to go to doing work for us. Many of you automatically BELIEVE that those who work in high office are Worth MILLIONS without even taking time to research their actual pay to find out facts, and remove it all from fantastical reason that prevails.

By your mentality there, this man is OK to claim upwards of 600 million come next election, is that not so?

Goodluck was not a lecturer with a PHD? Regardless of which word you chose, it was part of the justification we got from people, speaking as you are now, to justify his almost 300 million claim. You think what you are doing now is any different from what they did and continue to, I tell you you are wrong. What you are doing is just as terrible.

You havent really said why he is not entitled to have earned all he claimed. That you do not believe something doesnt mean its not true. It only means you havent stretched your imagination to that level yet.

ekt_bear:

In a nutshell, yes. My older relative recently retired from working at a similar oil company and got a retirement package of several hundred thousand dollars.

And he never reached Ajimobi's level, yet is almost certainly worth $1 million+.

My brother , you cannot blame Nigerians. corruption is now at the back of their mind to the extent that the consensus thinking, without recourse to facts, is that every wealthy Nigerian involved in politics is a thief . Ajimobi's worth , as former CEO of a subsidiary of Shell, is well in order. Even in the UK , CEO's of top companies earn millions in salary alone talk less of share options , bonuses and 'heavy duty' returns on investments sometimes aided by 'inside knowledge'  . We cannot blind ourselves to the reality that Nigeria , in a global village where African CEO's and bosses working for multinational companies are demanding pay parity with Western counterparts, is now an African Country with the type of business activities that creates HNWI (high-net-worth individuals).

Claiming some folks are 'padding' their net worth sounds ignorant to me when those folks have worked in an industry and in positions where the acquisition of stupendous wealth is routine .

i honestly dont think Ajimobi's wealth is inflated. Considering where he is coming from, this amount isn't ridiculous at all.

ola_pluto:

You havent really said why he is not entitled to have earned all he claimed.  That you do not believe something doesnt mean its not true. It only means you havent stretched your imagination to that level yet.

In much the same way we stretched our imagination to believe that Jonathan Goodluck earned, and was worth about 300 million back in 2007? ROFL  . . . you people never
change!

I would think by this time, that instead of MAKING EXCUSES for those we elect, or find ourselves stuck with, we would have learnt to required PROOF of claims made instead. The man made a claim, we have FOI . . . . demand PROOF, not jump to provide him justification, pretending the man needs to be defended.

Kobojunkie:

In much the same way we stretched our imagination to believe that Jonathan Goodluck earned, and was worth about 300 million back in 2007? ROFL  . . . you people never change!

This is not really a fair or even logical comparision is it? I.e comparing the net worth of a former lecturer to a man employed , for decades, in one of the most profitable business sector in the entire Universe ? Abeg let us judge others fairly so that we are judged fairly also.

Gbawe:

My brother , you cannot blame Nigerians. corruption is now at the back of their mind to the extent that the consensus thinking, without recourse to facts, is that every wealthy Nigerian involved in politics is a thief . Ajimobi's worth , as former CEO of a subsidiary of Shell, is well in order. Even in the UK , CEO's of top companies earn millions in salary alone talk less of share options , bonuses and 'heavy duty' returns on investments sometimes aided by 'inside knowledge'  . We cannot blind ourselves to the reality that Nigeria , in a global village where African CEO's and bosses working for multinational companies are demanding pay parity with Western counterparts, is now an African Country with the type of business activities that creates HNWI (high-net-worth individuals).

Claiming some folks are 'padding' their net worth sounds ignorant to me when those folks have worked in an industry and in positions where the acquisition of stupendous wealth is routine .

God bless you my brother.

Some people here are suffering from POVERTY MENTALITY and they need[b] KOBO[/b]ko.

If you get a high-paying job of this caliber and are relatively frugal you can probably save into your bank account $20k+/year. Over the course of a 30 year career, that is $600k. Let's say $20K saved per year, assume even at 5% inflation-adjusted rate of return. If this little piece of code I wrote is correct, that is a little under $1.4 million over a 30 year career.

Ajimobi easily could have saved more than $20K, might have done better than 5% on his investments, etc, etc.

Man.

Compound interest is like magic, lol. If Nigerians and black people saved and invested more, I think Africa would be a way better place.

Less Maseratis and other useless consumption, more real estate, stocks and bonds.

Kobojunkie.

Compare the wealth of a lecturer to that of a MD of a Shell subsidiary?

Also dont forget that this man was a senator. Do you think it absurd for a Snator to have this in his bank acct when a Senator earns 15m per month, In a yr thats 180m in 4 yrs thats 720m.

Minus other businesses and assets he could have accrued as a MD.

dayokanu:

Kobojunkie.

Compare the wealth of a lecturer to that of a MD of a Shell subsidiary?

Also dont forget that this man was a senator. Do you think it absurd for a Snator to have this in his bank acct when a Senator earns 15m per month, In a yr thats 180m in 4 yrs thats 720m.

Minus other businesses and assets he could have accrued as a MD.

First of all, you cannot compare the wealth of an MD of a shell subsidiary without having knowledge of the salary ( or any other remunerations) earned by this MD during the time we speak of.  What I compared, which is more than clear in the fact that I compared this to what was obtained when Jonathan declared his worth in 2007, is the action of people here - those who feel it is there place to provide justification for numbers entered into a form by a governor -- numbers that have not even been verified, according to the article.

Your assumption that an MD is automagically a millionaire of this calibre after 26 years is wrong, as I also explained that I know of other MD's who have worked longer but are not worth even 1/10th of what this man claims to be worth today.  I know of big business men, who have been in oil business since the early 80's, in Ikorodu, who struggle to boast of the millions that this man boasts of, and these are well known, and well connected business men (NOT EMPLOYEES).

You are not told of any other businesses he has or has. You are simply told here that he declared assets -- I suggest instead that rather than pretend he is JUSTIFIED in providing us these numbers, we demand clarification on where all that money comes from -- sources, legitimacy of sources etc. This is not for me, but for PROGRESS in the nation as a whole.

Did you factor in what he might have earned as a senator?

i learnt Senators earn 15m per month thats like 180m a yr, check that in 4 yrs and see if the figures add up. Like 720m

dayokanu:

Did you factor in what he might have earned as a senator?

i learnt Senators earn 15m per month thats like 180m a yr, check that in 4 yrs and see if the figures add up. Like 720m

Is that figure from earning figures from back in 2003 or are you pointing to the recent changes made?

They have always earned mega millions, I remember the furniture allowance wahala way back in 1999.

Hardly would you have any Senator for 4yrs worth less than 500m