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Deputy Senate Ekweremadu’s Assets Declaration Form Reveals He Hid Multi-billion Naira Properties, Investments

Deputy Senate President, Mr. Ike Ekweremadu, failed to declare many of his properties and investments the in the assets declaration forms he submitted to the Code of Conduct Bureau (CCB) before running for elections. Documents available to SaharaReporters show that Mr. Ekweremadu did not declare his ownership of 11, Evans Enwerem Street, Apo Legislative Quarters, Abuja; Plot 2633 Kyami, Abuja; Housing Estate (Plot 1106 CRD, Cadastral Zone 07-07, Lugbe, Abuja; and Plot 2782 Asokoro Extension, Abuja.

He equally failed to declare houses at Citi Park Estate, Gwagwalada; Plot 1474 Cadastral Zone BD6, Mabushi; Congress Court; Flat 1, Block D25, Athletics Street, (24th Street) Games Village; and Plot 66, 64 Crescent, Gwarimpa Estate, all in Abuja.

The Deputy Senate President also hid his London properties at Flat 4 Varsity Court, Harmer Street, WIH 4NW, London; and 52 Ayleston Avenue, NW6 7AB, London.

Similarly hidden were his properties in Dubai, the gleaming commercial capital of the United Arab Emirates. Among these are Room 1903, The Address Hotel, Downtown Dubai; The Address Boulevard, 3901, Dubai;

 two Flats of Burij Side Boulevard (the signature), Dubai; Emirate Gardens Apartment No. EGG1/1/114, Dubai; Emirate Gardens Apartment No. EGG1/115, Dubai; and Apartment No. DFB/12/B 1204, Park Towers, Dubai.

In the same category are Flat 3604, MAG214, Dubai; Villa No 148, Maeen 1, The Lakes Emirates Hills, Dubai; as well as three properties: 4507 Stella Street, Bellavida Estate,

2747 Club Cortile Circle and 2763 Club Cortile Circle, all in Kissimmee, Florida, United States of America.


According to Mr. Ekweremadu’s assets declaration form dated 5 June 2015, the Deputy Senate President admitted ownership of a five-bedroom duplex and boys’ quarters at House A40 Apo Quarters, Abuja, which he claimed to have acquired with a N13.5 million loan from the defunct Bank PHB. He also declared a 10-bedroom house with guest chalet and boys’ quarters at 2 Jim Nwobodo Street, Apo, Abuja, which he claimed to have acquired with a mortgage loan of N412million from Aso Savings and Loan.

In addition, the Deputy Senate President declared his ownership of a seven-bedroom house with penthouse and boys’ quarters at Plot 147A Mabushi, Abuja, a property valued at N3, 471, 922.1, which he said he acquired with salaries and allowances.

Also declared were a two-room apartment at MAG 214 Dubai, purportedly bought for $50,000.00; four-bedroom townhouse at The Lake Dubai, purportedly bought for $20,000; four-room townhouse in Florida, USA, which he claimed to have bought with a loan of $155,000 obtained from the defunct Bank PHB; and Plots 2 & 10, Republic Layout in Enugu (both undeveloped), which he valued at N4 million.

His form also contained declaration of ownership of Plot 1518, Maitama Extension in Abuja, an undeveloped land purportedly valued at N10 million; Plot 2882, Asokoro Extension, Abuja, with a purported valued of N13million; two-room apartment at Burjside Boulevard, Dubai, allegedly bought for $250,000; one-room apartment at Emirate Garden, Dubai, allegedly bought for $60,000; and Park Tower, Dubai, for which he claimed to have paid $250,000.

In the form, Mr. Ekweremadu claimed to have bought a three-room town house at Club Corticle, Orlando, USA, for $200,000; a four-room house at Plot 1496 AI Thannyah, Fourth, Dubai, for $250,000; four-bedroom terrace house at Games Village, Abuja; six-bedroom storey house and boys’ quarters at Amachara Mpu, Enugu; four-bedroom house and boys’ quarters at Federal Housing Estate, Enugu; 3000 square metres of undeveloped land at Amachara, Mpu, Enugu; and five hectares of land at Tutu District, Abuja.

In terms of investments within and outside Nigeria, including shares, debentures and other instruments, Mr. Ekweremadu declared 5, 100,000 units of Citi Park Luxury Hotels Limited shares, allegedly worth N350million; 8, 000, 000 units of Prime and Power Media Limited with a supposed value of N30million; 300, 000,000 units of Bety Air Limited shares with an assumed value of N5million and  40, 000 units of Prime and Power Konsult Limited, with a presumed value of N42 million. He equally declared ownership of 50,000 units of Power Properties Limited shares purportedly valued at N50 million and units of 70,000 Spider Construction Limited shares valued at N35million.

Eight years earlier, the Deputy Senate President’s assets declaration form, dated 1 June 2007, listed his properties as a four-bedroom terrace house at Games Village, Abuja; a storey building that serves as his country home in Amachara, Mpu; another storey building and boys’ quarters at Federal Housing Estate, Enugu; a house at Apo Legislative Quarters in Abuja; 2644.60 square metres of undeveloped land at Asokoro, Abuja; 1000.577 Square meters, Kurubuma Layout, Abuja; and 3000 square metres, Amachara, Mpu.




He gave details of his investments in Nigeria and abroad as including 40, 000 units of Prime and Power Konsult Limited shares valued at N40 million; 50,000 units of Prime Properties Limited shares with an assumed value of N50 million; and 70,000 units of Spider Construction Limited shares with a purported value if N36 million.