A report prepared by an asset verification team of the Code of Conduct Bureau in July 2006 laid the foundation for the trial of Senate President Bukola Saraki at the Code of Conduct Tribunal, Premium Times has reported.
The verification was carried out on July 19, 2006, by a team headed by Ikechi Iwuagwu, then a deputy director at the CCB, and comprising Garba Adamu of the Economic and Financial Crimes Commission and Geraldine Longtsen of the State Security Service.
The report, which was a product of a detailed verification of the assets he declared when he assumed duties as governor of Kwara State in 2003, specifically accused him of giving the Bureau false information on the status of some of his properties in Lagos and Abuja.
According to the CCB Investigative Report, Mr. Saraki’s properties verified by the team were those on Plot 212 Musa Yar’adua, Victoria Island, Lagos; Plot of land at Lekki Phase 1 in Block 72; Plot of land at Ibatun near Ajah, Lagos; No. 42 Gerrard Road, Ikoyi, Lagos; No. 19 Ruxton Road, Ikoyi, Lagos; No. 62 Awolowo Road, Ikoyi; No. 15A & B MacDonald, Ikoyi and No. 6 Volga Street, Maitama A6, Abuja.
According to him, the property on Musa Yar’Adua Street, Victoria Island, owned by his company, BAS Trading, was valued at N700 million while the plot of land in Lekki, he acquired in his name in February 1992, was valued at N7 million.
Similarly, the plot in Ajah he got in November 1992 had a value rate of N5 million; the property at 42 Gerrard Road, Ikoyi owned by Skyview Properties Ltd was valued at N750 million property; the one at 19 Ruxton road, Ikoyi, owned by Skyview Properties Ltd was valued at N500 million; the property at 62 Awolowo Road, Ikoyi also owned by Skyview was valued at N100 million; while Carlisle Properties Ltd, one of his company owned the property at No 15A & 15B McDonald Road, Ikoyi worth N160 million.
The property in Maitama District in Abuja was N160 million.
Mr. Saraki also declared the rental incomes of five of the properties.
However, the team, in the report, said it could not locate the two plots of land Mr. Saraki mentioned in his assets declaration form because he did not supply the particulars.
“The team tried to locate the two plots of land mentioned in the Assets Form of the Governor without success as the basic particulars were not supplied,” the report said.
On the property on Plot 212 Musa Yar’Adua Street, Victoria Island, the report said it was a five-storey building complex with additional one storey adjacent to the main complex and that the cost posted by Mr. Saraki on the property was N500 million.
“Our view is that this is certainly overvalued at that cost. The property is properly fenced with high walls for purely residential purpose and managed by Carlisle Properties Ltd,” it said.
On the property at No. 42 Gerrad Road, Ikoyi, the team reported, “The property was verified; however our findings show that it is a new two story building still under construction.
“We also confirmed through interview that by the year 2003 it was a vacant land, development commenced just about 2 – 3 years ago. It is an uncompleted building with a low unpainted fence.
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“To say the least, this is a clear case of anticipatory declaration because at the time of declaration, there was no building in the vacant land