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Breakdown of Oyo Governor declared assets and the emerging truth by Queen Zara Onyinye

To register a company with one billion capital base at CAC cost between 17-20million depending on the route you choose. What this implies is that you have created an asset of #1billion with less than #20million.

Gov Makinde’s company is not a public quoted company, yet he placed a premium price on the shares and declared it as asset. How did he arrive at cost of his company shares?

On his properties abroad. The value stated therein is the market value, not the forced sale value and let’s not forget its on mortgage.

If you pay 300million as deposit on a property worth 3billion Naira. The book value will be #3billion but you only paid 10% of that.

Thru financial engineering you can perform magic.

I’ll stop here so as not to confuse my readers who are not finance savvy.

If you understand what I just wrote, good. If you don’t, kindly desist from making pedestrian posts on how Makinde is worth a whopping #48billion. We sabi as e dey go.(We know what it entails)

Meanwhile taxes can be reported in your financials and differed.

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