NEITI boss declares N99.4m assets

Nigeria Extractive Industries Transparency Initiative (NEITI) Executive Secretary  Mr. Waziri Adio yesterday declared his assets with N3.8 million and $821in his accounts.

But his assets and that of his spouse are worth N99,417,894.

He said he closed his foreign accounts, which he operated as a student or a fellow in the United States.

 Adio, in a statement on his Assets Declaration Form, said he opted for a public declaration of his assets to practise what he preaches.

 He said he believes that “public officers should declare their assets publicly”.

 The  statement said: “After 23 years of working in the media, in an international development agency, and as a consultant and an entrepreneur, I own the following assets declared in my Form CCB 1:

“As at March 30, 2016, I had a total of N3, 810, 206 in accounts with Access Bank, Standard Chartered Bank and United Bank for Africa.

• As at March 30, 2016, I had a total of $821 in domiciliary accounts in Access Bank and UBA.

“The foreign accounts I operated as a student or a fellow in the U.S. are all closed.

“One unit of a three-bedrooom bungalow in an estate in a suburb of Abuja bought in 2011 at N17.5million, renovated and currently valued at N25 million;

“Two units of three-bedroom flats built over 13 years (between 2000 and 2013) in Lambe, Ogun State, currently valued at N12 million.

“Two plots together measuring 1000 sqm demarcated by a dwarf fence in Iwo, my hometown in Osun State, bought in 2013, valued at N700, 000;

“Yet-to-be-located 600 sqm in a disputed estate in Sabon-Lugbe, Abuja bought in 2011 at N750, 000.

 ”I have beneficial interests in the following private companies that I co-founded: Think Tank Consult Limited; SW4 Media Limited, Publishers of Metropole Magazine; Elan-Metro Foods Limited and the Cable Newspaper Limited, Publishers of The Cable online newspaper

 ”I also have equity in two non-operational companies: Papyrus Media Limited and Bamisoro Media Limited

“My vehicles are  VW Passat bought new in 2011 at N5.8million and BMW X5 2008 Model bought second hand in February 2016 at N3.3million.

 ”Household Furniture/Items: 9 KVA Hyundai Diesel Generator bought at N850, 000; 3 KVA Sunkam Inverter bought at N450, 000 and other household furniture, electronics, exercise equipment, artworks and others valued at N3.5million

 ”Shares in Publicly Quoted Companies: “I have shares in Skye Bank, Sterling Bank and Staco Insurance, bought in 2008 at N2.5million now presently valued at N296, 610.

 ”Assets of spouse and children: My wife runs two businesses: a salon and a bakery, with equipment and distribution vehicles all valued at N28.5 million.

“We have three children under 18 and they do not own any assets.”

 The NEITI Executive Secretary explained why he decided to declare his assets publicly.

Adio said he chose to emulate President Muhammadu Buhari, the late President Umaru Yar’Adua, ex-Governor Kayode Fayemi and others in declaring his assets publicly.