See Buhari's Undeclared Assets in Multinational Company

President Muhammadu Buhari may not have disclosed all his assets and investments in the Asset Declaration document he submitted to the Code of Conducts Bureau, according to new reports.

President Muhammadu Buhari

A document obtained by DAILY POST on Sunday indicated that President Buhari allegedly has a huge share in Panalpina World Transport (Nigeria) Limited, which he did not disclose in the list of his assets made public by his media aides last week.

The assets declaration by the president has continued to attract mixed reactions from members of the public since it was publicized last Thursday.

The opposition Peoples Democratic Party, PDP, had in its reaction to the asset declaration by the president said that there was no truth in the published list of assets, adding that the president was not honest and was deceiving Nigerians.

The document obtained by our correspondent, a Certified True Copy from the CAC, indicated that President Buhari has shares in Panalpina World Transport (Nigeria) Limited, a multinational company.

According to the document, President Buhari bought 90,000 shares in Panalpina World Transport (Nigerian) limited on 1st August 1995 but this share was not included in his asset declaration document.

The document reads in parts: “Allotment of shares of 15,000,000 received in response with Rights Issue of 3,000,000 was capitalized and used to pay up in full 15,000,000 Bonus shares.
The subscribers of the share were “(1) Buhari (Major General) Mohammadu – 90,000; address 7 Aliu Garaki Rd Kaduna. (2) Babangida (Gen. rtd) Ibrahim – 15,000; (3) Williams (Prof) Olufemi – 15,000; (4) Gana (The Estate) Baba – 15,000” among others.

On 3rd September 2015, President Muhammadu Buhari declared that he had about N30 million in his bank account before taking office on May 29. The president declared, however, that he had shares in Berger Paints, Union Bank and Skye Bank but there was no mention of his share at Panalpina.

Details of the president’s asset declaration now being verified by the Code of Conduct Bureau also showed that he owns five houses in Kaduna, Daura, Kano and Abuja. He also has two undeveloped plots of land, one in Kano and the other in Port Harcourt as well as farms, an orchard, ranch, livestock including 270 cattle, 25 sheep, five horses, a variety of birds and a number of economic trees.

His media aides are yet to react to this new development.