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.

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.


Nigerian president declares wealth, showing 'austere' living

04 September 2015, 13:04

Auja — 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 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 $150 billion.

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.

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.

For the latest on national news, politics, sport, entertainment and more follow us on Twitter and like our Facebook page!

- AP


Read News24’s Comments Policy

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

Read more from our Users

Submitted by
Jayne Zack
I am in ODM to stay, Busia Depu...

Busia Deputy Governor Kizito Wangalwa told Deputy President William on the face that he was in the Orange Democratic Movement to stay. Read more...

Boda Boda operators in Bahati rai...

Motorbike Boda Boda operators from Bahati Sub county on Tuesday took to the streets of Nakuru’s CBD lamenting over what they term is harassment by patrol police officers in the area. Read more...

Submitted by
Gabriel Ngallah
Human Rights activist lives in fe...

The Human rights fraternity in Mombasa is currently living in fear after the home of one of the vocal human rights champion was invaded on Monday night. Read more...

Submitted by
kel wesh
Poisonous milk powder siezed by K...

The Kenya Revenue Authority has seized two containers with illegal milk powder which had been declared as gypsum board at Mombasa port. Read more...

Submitted by
William Korir
Be ready for protests, Raila warn...

Expect protests if meddling with Auditor General continues, Raila Odinga has said. Read more...

Submitted by
Kenya says will return to interna...

Kenya will return to international markets to borrow when it feels the time is right, National Treasury Cabinet Secretary Henry Rotich said on Tuesday. Read more...