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Fayemi Declares N750m Assets

19 Dec 2010

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In an apparent compliance with the demand of their offices on transparency and accountability Ekiti State Governor, Dr Kayode Fayemi and his deputy, Mrs. Funmilayo Olayinka,  have both declared their assets.

According to a release issued and made available to newsmen in Ado-Ekiti from the office of Senior Special Assistant to the governor (Media), Mojeed Jamiu, Fayemi deposed to the Assets Declaration Form for Public Officers at the Registry of the State High Court, Ado-Ekiti, on November 15, 2010 barely a month after assuming power.

The governor’s gesture is in compliance with the Federal Government’s directive that all public office holders must declare their assets with the Code of Conduct Bureau.

Fayemi is the first Chief Executive of the state to have made public his worth in cash and assets.
The assets are what he had acquired in his private capacity as at October 15 when the Court of Appeal, Ilorin declared him  the duly-elected governor of the 14-year-old state.All the assets declared by the Ekiti governor are valued at N750 million.

They include cash in local and foreign banks, buildings, undeveloped property jointly owned with his wife,  Bisi , vehicles, business enterprises and household items.
Olayinka declared assets worth N1.2 billion including cash in local and foreign banks, buildings, undeveloped property, vehicles, business enterprises and household items.

As at the time Fayemi became governor, the total amount he had in his local and foreign accounts is N27 million while buildings and undeveloped property he jointly owns with his wife  both within and outside Nigeria are valued at N474 million.
They include a compound of three buildings in Ibadan valued at N73 million,; a compound of eight buildings at Isan-Ekiti valued at N120 million;  a three bedroom duplex in London valued at 280,000 British pounds and a four bedroom detached duplex at Atlanta, Georgia, USA worth US$250,000.

Others are a six bedroom detached house at East Legon, Ghana valued at US$650,000, an undeveloped plot of land at Guzape District in Abuja valued at N30 million, an undeveloped plot of land at Lekki Phase 1 in Lagos valued at N25 million and an undeveloped plot of land at Ambassadorial Enclave, Legon, Ghana valued at US$250,000.

Also declared as assets by the governor are a total number of nine vehicles valued at N73 million, his business enterprises known as Amandla Consulting is valued at N50 million while his household items like generating sets, electronics, furniture, equipment and others are valued at N80 million.

The Ekiti deputy governor has over N12 million in both local and foreign banks at the time she took the oath of office as the state number two citizen.

Buildings belonging to Mrs. Olayinka and her husband  include a compound of three buildings in Opebi, Lagos valued at N180 million, four bedroom duplex in Victoria Island, Lagos worth N112 million, a compound of two buildings in Ikoyi, Lagos valued at N280 million and an undeveloped plot of land in Ogun State valued at N10 million.

According to the asset declaration form, Mrs Olayinka's three personal vehicles are valued at N15 million while her household items are valued at N10 million.

The deputy governor's business interests include REAL Nigeria Ltd which is a jointly owned business venture worth N300 million while another jointly owned business venture of Mrs. Olayinka, F&Dees Nigeria Ltd is also valued at N300 million.

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