Between 1999 and 2007, President Umaru Musa Yar’Adua’s assets grew by over N700 million.
In 1999, when he released his declared assets publicly soon after he was sworn in as governor of Kastina State, he was worth less than N100 million.
But now, his assets, according to his public declaration last Thursday are worth over N856 million, an over 800 per cent increase.
His assets as declared on June 16, 1999 include:
Cash · N420,000· N4,044,111
· $81,000
· £1,000
Buildings
· Three buildings, two of which were gifts from his elder brother General Shehu Yar’Adua, and located in Kaduna, valued at N15,000,000.
· One in Katsina, inherited from his late father, valued at N2,000,000.
· A personal house, built by him between 1985 and 1988 valued at N8,000,000.
Land
Vacant land, which fetched N5 million between 1994 and 1999, valued at N13 million.
Other four vacant land, one of which valued at N10,000,000.
Farms
Two farms valued at N2.5 million
Vehicles
Five in all. One from his late elder brother valued at N7 million. Another given to him when he resigned from the board of Habib Bank as a director. He bought a Toyota brand for N800,000.
In a paper made available to correspondents in Katsina, on Wednesday 16th June, 1999, the then governor had said such decision would not have been necessary, "if we have a society where people and leaders have reformed themselves to become honest, sincere and have the fear of God in their hearts." "The mere fact that there is such a constitutional provision is a shame and disgrace to the leadership of this country, because it has shown the exact character of leadership we have been having over the past decades", he had said. Like the 1999 declaration, the one made last week did not include the shares in banks and other institutions. The addition of shares, cash in the banks would have increased his worth to N946 million. Contrary to the 1999 situation, when only five vehicles were listed, the president now has 31 vehicles, mostly from donation for presidential campaigns. What is not clear is whether such donations were not made to him during his governorship campaign or he chose to drop them from the 1999 list. The latest declaration showed that the president’s properties located in Katsina, Kaduna and Abuja is now valued at N577 million. The value of his two farms has also appreciated to N25 million from the N2.5 million some eight years ago, while his wife’s assets now separated and put at N19 million. The declaration has since been attracting varied interpretations and reactions faulted by some and commended by others. Former governor of the old Kaduna state, Alhaji Balarabe Musa felt there was nothing patriotic about the assets declaration. Balarabe, who was a former presidential candidate of the Peoples Redemption Party (PRP) expressed surprise that the president’s assets could have risen "to almost a billion Naira from about N70 million" eight years ago. "There is nothing exciting about what he has done because he has only fulfilled what is expected of him, although the law does not say he should do it publicly; it only says that he should declare his assets. "I am surprised that the president who was worth less than N70 million few years ago is now so rich. "There are some questions that needed to be answered, and I hope the answers are in favour of the president. How did he become so rich within eight years? What made him so courageous to declare so much money publicly? These questions must be sincerely answered without being speculative. "The amount so declared confirms that Nigeria is clearly a social class. So what do you expect from an imposed president who is that rich? Do you think he would be sensitive to the needs of the people? I doubt," Balarabe said. The former Attorney-General of the Federation, Chief Richard Akinjide, described the declaration as "a good move," and urged every public office holder to follow suit. Akinjide noted that only such courage to declare assets on assumption of office and when leaving could give meaning to the people’s clamour for probity and accountability. "When leaving office they should also declare their assets so we can compare. "The president has shown good leadership and therefore deserves total support from all of us," the former Justice Minister declared. To the Ondo State Chairman of the PDP, Dr. Omotayo Dairo, the move was necessary to set the right agenda for probity and good governance. Dairo explained that a President that could muster such courage to publicly declare his assets would not condone corruption in whatever guise. "We expect other PDP functionaries to go ahead and do same," he added. Dairo told The Nation in a telephone interview that such bold stance against corruption was a policy his party had resolved to entrench, "being the largest party in Nigeria." "So long as we continue to pamper corruption in this country it will be difficult for us to move forward," he argued.
googletag.cmd.push(function() { googletag.display('comments'); });
googletag.cmd.push(function() { googletag.display('content1'); });
googletag.cmd.push(function() { googletag.display('content2'); });