Nigerian president declares wealth, showing 'austere' living

2015-09-04 12:01
 Muhammadu Buhari. (File: AFP)

Muhammadu Buhari. (File: AFP)

Multimedia   ·   User Galleries   ·   News in Pictures Send us your pictures  ·  Send us your stories

Abuja - The wealth declaration of Nigeria's new president shows he has been living "an austere and Spartan lifestyle," with $150 000 in his personal account, contrary to what many might expect of one who has held a number of top government positions, an official said on Thursday.

In the declaration, President Muhammadu Buhari stated that he had shares in Berger Paints, Union Bank and Skye Bank, said Garba Shehu, a senior special assistant in charge of media and publicity for the president in a statement. He did not reveal the value of the shares.

Buhari has vowed to stamp out corruption, which is endemic in Africa's biggest economy. Buhari last month put the amount of money missing from state coffers at a staggering $150bn.

Shehu's statement also did not give values of all the assets held by the president and vice president saying the documents submitted to the Code of Conduct Bureau of will be made public as soon vetting is completed.

Buhari has a total of five homes and two mud houses in Daura (Katsina state), Shehu said. In addition to the homes, he has farms, an orchard and a ranch with 270 heads of cattle, 25 sheep, five horses and a variety of birds, he said.

Islamic extremists

President Buhari also has two undeveloped plots of land, one in Kano state and the other in Port Harcourt, the capital of Rivers state, Shehu said.

The statement was vague on the number of cars the president owns, saying two were bought from his savings, others supplied to him by the federal government in his capacity as former head of state and the rest donated to him by well-wishers after his jeep was damaged in bomb attack by Islamic extremists on his convoy in July 2014.

Vice President Yemi Osinbajo's asset declaration shows he has $900 000 in bank accounts, a four-bedroom residence, a three-bedroom flat, a two-bedroom flat and a two-bedroom mortgaged property in Bedford, England, the statement said, adding that the vice president also has shareholding in six private companies based in Lagos and three cars.

Analysts praised the move by the officials to declare their wealth.

"The declaration represents a step in the right direction as per international standards and best practices," said Sylvester Atere, of the United Nations Office on Drugs and Crime in Nigeria. "Hence, it helps to build confidence and public trust."

Former President Goodluck Jonathan, who lost to Buhari in the March 28 polls, declined to declare his wealth as president though he had done so as vice president during the regime of the late Umaru Yar'Adua —the first leader to declare his assets when taking office.

Read more on:    muhammadu buhari  |  umaru yar'adua  |  goodluck jonathan  |  nigeria  |  west africa

Join the conversation!

24.com encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

We reserve editorial discretion to decide what will be published.
Read our comments policy for guidelines on contributions.

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
3 comments
Comments have been closed for this article.

Inside News24

 
/News

Book flights

Compare, Book, Fly

Traffic Alerts
There are new stories on the homepage. Click here to see them.
 
English
Afrikaans
isiZulu

Hello 

Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.


Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Settings

Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.




Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.