Tinubu's Wealth Estimated at $4bn? Buhari, Yar'Adua's Net Worth Revealed

Tinubu's Wealth Estimated at $4bn? Buhari, Yar'Adua's Net Worth Revealed

  • The assets and investments of the 16th and current president of Nigeria, Bola Tinubu, remain unknown
  • Legit.ng reports that since Nigeria returned to democracy in 1999, only Umaru Musa Yar'Adua and Muhammadu Buhari publicly declared their assets
  • According to the code of conduct for public officers, contained in Part I of the fifth schedule to the 1999 Nigerian constitution 1999 (as amended), all public officers are to declare their assets

Legit.ng journalist Ridwan Adeola Yusuf has over 6-year-experience covering politics and in Nigeria

FCT, Abuja - Stakeholders, including civil society organisations (CSOs), have said that it is a moral burden on President Bola Tinubu to declare his assets.

The CSOs said Tinubu’s net worth is unknown, and wondered why the Code of Conduct Bureau (CCB) has been quiet on the president's record.

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Tinubu/Tinubu wealth/Tinubu asset/Tinubu net worth
Nigeria’s key leaders and politicians are mostly old, wealthy and male. Photo credits: Asiwaju Bola Ahmed Tinubu, Dennis Olounjunne Olawale, Muhammadu Buhari
Source: Facebook

'Tinubu has wealth estimates of over $4b': Rumours

Legit.ng understands that only former presidents late Umaru Musa Yar'Adua and Muhammadu Buhari publicly declared their assets as Olusegun Obasanjo and Goodluck Jonathan “derided the rule”.

Yar’Adua declared assets valued at N856, 452,892, with a total annual income that was put at N18.7 million. He also disclosed that his wife, Turai, had a total asset of N19 million, made up of houses.

In 2015, former President Buhari made a sketchy declaration of his assets, revealing that he had less than N30 million in his bank accounts at the time.

In a breakdown of assets, Buhari said he had $150,000, two mud houses, livestock and an orchard, and a plot of land.

Recall that the code of Conduct for Public Officers, contained in Part I of the fifth schedule to the 1999 constitution (as amended) provides that "every public officer shall immediately after taking office, and thereafter (a) at the end of every four years; and (b) at the end of his/her term of office, submit to the CCB a written declaration of all his properties, assets, and liabilities and those of his unmarried children under the age of 18 years".

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The inherent secrecy of the provision has, however, become an alibi for most public office holders to either deride the entire provision or allegedly compromise relevant officials for cover ups.

In the case of President Tinubu, Freedom of Information (FoI) has not proven resourceful on his asset records.

Guardian newspaper said recent efforts to inquire from the immediate past CCB Chairman, Isa Muhammed, whether President Tinubu and others have declared their assets to the bureau, proved abortive.

The paper reported that as the sitting president, an asset declaration would have dispelled or affirmed claims that Tinubu has wealth estimates of over $4 billion.

Tinubu shares journey to wealth

Earlier, Legit.ng reported that Tinubu narrated his journey from being a student to the top in business and political careers such as Exxon Mobil and subsequently becoming a successful politician.

The president said Nigeria is not poor in knowledge and human resources but deficient in leadership and management, which was why he ran for the office of the number one citizen.

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Tinubu gets urgent demand from Ohanaeze Ndigbo over Nnamdi Kanu's release

“We don’t need Nigeria’s wealth,” Remi Tinubu

Legit.ng also reported that the First Lady, Senator Oluremi Remi Tinubu, said her family does not need Nigeria’s wealth to survive.

According to the wife of the president, she and her husband need the grace of God to govern.

Buhari says he has no property abroad

In another related news, Legit.ng reported that Buhari disclosed that he has no properties outside Nigeria. He also said nobody can accuse him of embezzlement.

Speaking at the state banquet organised in his honour in Damaturu, the Yobe state capital, Buhari said, ‘‘I do not have one square inch outside Nigeria."

Source: Legit.ng

Authors:
Ridwan Adeola avatar

Ridwan Adeola (Current Affairs Editor) Ridwan Adeola Yusuf is a content creator with more than nine years of experience, He is also a Current Affairs Editor at Legit.ng. He holds a Higher National Diploma in Mass Communication from the Polytechnic Ibadan, Oyo State (2014). Ridwan previously worked at Africa Check, contributing to fact-checking research works within the organisation. He is an active member of the Academic Excellence Initiative (AEI). In March 2024, Ridwan completed the full Google News Initiative Lab workshop and his effort was recognised with a Certificate of Completion. Email: ridwan.adeola@corp.legit.ng.