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| Caught Red Handed! Buhari hid 66% share in Panalpina World Transport in his asset declaration |
Despite repeated efforts to whitewash General Muhammadu Buhari's character, his true corrupt self is emerging daily. It has now been reviewed that Buhari hoodwinked Nigerians in his assets declaration. Daily Post reveals that Buhari allegedly has a whooping 66% share in Panalpina World Transport (Nigeria) Limited, which gives him the controlling powers of the company. Buhari did not disclose this to the Code of Conducts Bureau (CCB), going by the assets he made public late last week.
It was very clear from the assets declaration released to the public last week by Buhari that he was seriously trying to hide a lot of details that could be used to value his true wealth. For instance, while mentioning that he had shares in two companies, Buhari did not disclose how much shares they were.Furthermore while admitting he had farmland, ranch plots of land and 8 houses, buhari did not provide enough details such as size of the farms, ranch or plots of land ans well as those of the houses.
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 Daily Post, a Certified True Copy from the CAC, indicated that Buhari has shares in Panalpina World Transport (Nigeria) Limited, a multinational company.
According to the document, General 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.
It is quite informing to note that the period the shares were bought was when Buhari was in charge of the Petroleum Trust Fund (PTF). Buhari served as the Chairman of the Petroleum Trust Fund (PTF), a body created by the government of General Sani Abacha, and funded from the revenue generated by the increase in price of petroleum products, to pursue developmental projects around the country from 1994-1999.
The Biafran analysts were able to estimate by sifting through the assets declared by Buhari that he was worth billions.
This is a very big contrast from the pauperised picture Buhari has always strived to paint of himself.
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