"..he now owns 146 homes in Yola, Adamawa State in addition a slew of transaction that run into the high millions.
it was learnt that Atiku whose financial status was modest prior to his ascension to the office of the Vice President has exponentially increased in his financial wealth to the extent he now owns 146 homes in Yola, Adamawa State
Mr. Abubakar had served the Nigerian Customs and Excise Service for 20 years and retired in 1989 at the rank of Deputy Director.
After his years in Customs, Mr. Abubakar engaged in a quilt of business involvements straddling the world of business in oil services, real estate, agriculture, education, the print media, and lately the corridors of partisan politics.
The Vice President with a modest portfolio of one house in Kaduna, Yola and Lagos, eight years in the vice-presidency has immeasurably transformed Mr. Abubakar’s holdings.
His high profile $25 million University (ABTI American University) in Yola, plus the $8 million he paid to the American University in Washington DC for a direct license to use the franchise of the university (known as partnership and management consultancy by AU officials) is a critical reference to the investment profile of a public officer who did not seek bank loans to execute these gargantuan investments.
When contacted about the nature of the deal with ABTI- American University, Washington DC-based AU’s Vice president for International Affairs Mr. Robert Pastor said that the $8 million figure claimed as the cost of doing business with ABTI-American University was “inaccurate” but refused to reveal the exact cost of the partnership and management consultancy with Atiku’s high profile college which he bragged was the best in Africa after 11/2 years of operation, he said that the exact cost of the partnership was confidential.
In the course of his eight years stewardship, Mr. Abukakar has managed to corner controlling shares in Bank PHB, controlling shares in Intel, an oil services company with operates in Angola, Equatorial Guinea, Gabon and Sao Tome and Principe; controlling shares in AP Petroleum, which he was forced to divest recently in a hail of controversy regarding the ethics of his management of the country’s privatization program.
The vulnerability of the vice president, who in his two-term tenure has recorded N60 Billion worth of bank transactions, has always made it easy to point at elite corruption to illustrate the subversion of Nigeria’s national efforts at constructing a fair, accountable and transparent polity
The vice-president was cited for diverting $125m from a public trust fund into his personal businesses. The $125m was diverted from the Petroleum Trust Development Fund (PTDF).
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