ASSET DECLARATION: Buhari Failed To Disclose He Owns Majority Share Of Panalpina...

ASSET DECLARATION: Buhari Failed To Disclose He Owns Majority Share Of Panalpina World Transport (DETAILS)

By News Desk | The Trent on September 7, 2015
President Muhammadu Buhari

Following a tumultous week in the media over Buhari’s sectional appointments, his denial of his own campaign promises and his ‘Covenant with Nigerians‘ documents which detailed a summary of his pledge to Nigerians and more recently, his heavily criticized asset declaration, President Muhammadu Buhari may have some information concerning his net worth that he doesn’t want Nigerians to know.

According to a document obtained by Daily Post, President Buhari is said to have a huge amount of shares in World Transport (Nigeria) Limited, which was not included in the assets declared last week.

According to the document, a Certified True Copy from the Corporate Affairs Commission (CAC), President Buhari on Tuesday, August 1, 2015 acquired 90,000 shares in Panalpina World Transport (Nigeria) Limited, a multinational company.


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.

In President Buhari’s asset declaration, he declared about N30 million in his bank account. He also announced he has an unspecified amount of shares in Berger Paints, Union Bank and Skye Bank but there was no mention of his share at Panalpina.

None of the President’s Special Advisers on Media and Publicity have responded to this recent development.


Leave a Comment

To leave a comment anonymously, simple write your thoughts in the comments box below and click the ‘post comment’ button.