Assets: Kingibe, wives worth N766 million
BY The Nation
DATE : Sunday, 05 August 2007
Secretary to the Government of the Federation (SGF), Alhaji Babagana Kingibe, is currently worth N395.4million. His two wives have properties worth N371 million, and his son, Abdulkadir, over N35 million. According to the assets declaration submitted last month, as contained in Form CCBI, the former foreign Affairs Minister’s highest investments are in buildings, shares, furniture and equipment.


Kingibe who has no foreign accounts, according to the declaration, maintains only an account with the United Bank for Africa (UBA), where he has N81, 207.


His 7,981,394 units of shares in companies not mentioned in the declaration valued at N27.9 million are being managed by EUROBANC Savings and Loans (Kano) and DUNESIDE Ltd (Abuja).


The declaration of assets is a constitutional requirement expected to be fulfilled by public officers on assumption of office. President Umaru Musa Yar’Adua and some governors declared their


assets and made it public earlier, which had been commended.


Yar’Adua declared assets worth over N856million and his wife N19million.


Kogi State governor Ibrahim Idris declared N900million assets, while Ogun State governor Gbenga Daniel had N4.5billion assets and wife N157.7million.


The declaration that was received by the officers of the Code of Conduct Bureau on the 17


thof last month shows that Kingibe has five buildings valued at N290m.


The buildings are located in Maiduguri, Borno State and Abuja.


The SGF also has five undeveloped plots in Maiduguri and Jos, Plateau State, valued at N11m.


The buildings that were acquired through "savings and gifts in kind" included a one-storey building with a guest house located at 71, Usuma Street, Maitama, Abuja, valued at N195m. It was acquired between 1991 and 1993.


Another bungalow plus Guest House and office, located at 14, Ashaka Street, Danboa Road, GRA, Maiduguri, worths N45m, while the bungalow at Block 14, Bulunkuttu Layout, Airport Road in the Borno State Capital value at N15m.


The five plots are all in Maiduguri except one in Jos, behind Adams Laboratory Rayfield, which is worth N4m.


Kingibe has six functioning vehicles of various classes, three of which were "campaign gifts."


The campaign gifts were given to him in 1992, 1993 and 2007. he received in 2007 a Pontiac Trans 1994 Model valued at N1m, while that of 1993, a Nissan Pathfinder Model 1992 was valued at N700,000.


The SGF bought in auction a Land Rover Discovery Model 1991 in 2003, at N500,000 and a Mercedez Ben 280 1990 Model in 1992, valued at N600,000.


While his son, Abdulkadir Kingibe, only has a bungalow at 26A, Bulunkuttu Close, Kaduna, valued at N35m, Kingibe’s two wives have properties worth N371 million.


These properties that exclude automobiles include four houses, one lock up shop and two plots, located in Abuja, Maiduguri and Kaduna.


They included a story house at Kunene Close, Maitama, Abuja acquired in 1997, and with a current value of N150m. Besides, a storey building with Guest House, located at 9B,
Lubumbashi Street
, Ibrahim Abacha Estate, Wuse Zone IV, Abuja is valued at N70m.


In 1971, one of the spouses acquired a store House at 2,
Ali Akilu Road, Kaduna
, according to the declaration. The store has a current value of N50m.


Besides the lock up shop at Wuse Market, Abuja acquired in 2006, one of the two spouses has a plot of 3200sqm at 10,
Ogbadu Road, Kaduna
, acquired in 2006. The plot has a current value of N10million.


President Umaru Musa Yar’Adua, was the first to declare his assets shortly after his swearing-in. He had done same in 1999 when he became the governor of Kastina State.


Curiously most public officers, including governors seem not at home with the idea. They prefer secret declaration which political observers say could encourage anticipatory declaration.


The Vice President, Goodluck Jonathan has been having a running battle with various groups, particularly the Action Congress, over his refusal to make his assets declaration public.
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