‎₦1billion Abuja Mansion, ‎₦50m S-Class Maybach, $102k In US Bank - Sen. Andy Uba's Assets Form Revealed

Yawning gaps have been discovered in the assets declaration form submitted by Senator Andy Uba to the Code of Conduct Bureau (CCB). According to the form presented on  June 3, 2015, and exclusively obtained by SaharaReporters, Uba is the owner of N1billion home located at 49 TY Danjuma Street, Asokoro, Abuja. In the form, Uba claimed that the house was bought on November  15,  2006, through personal savings and a loan from the United Bank of Africa (UBA).


In the forms listing his assets as of May 30,  2015, he declared ownership of a six-bedroom duplex at 26, Mamman Nasir Street, Asokoro, Abuja, which he bought for N650million on  May Senator Andy Uba 2006. Money for the purchase of the property, according to Uba, came from the sale of a property and personal income.  The property, he also claimed at the time, yielded N25million in rent yearly. He owns another three-bedroom house at Edo Court, Gaduwa in Abuja. This, he informed the CCB, was purchased for N30million, which came through personal savings and a loan from UBA.

He claimed not own any undeveloped plot in Nigeria. Uba declared that, as at 30 May, 2015,  he had the sum of N18million in his salary account ( UBA 1015477102) domiciled at the National Assembly branch of the bank.

For cash in foreign banks, Senator Uba declared the sum of $102,000 as his bank balance in Wells Fargo Bank, San Francisco, USA. The account number is 5561399873.

Curiously, Uba claimed not to have any government securities, including premium bonds. He similarly claimed to own no shares, debentures and other securities in or outside Nigeria. In the column asking whether he owned a farm, orchard or ranch, Uba wrote : "I do not have any."

Yet, a man without any declared investments at home or abroad, claimed to own a Maybach AZ, which he said he acquired in 2006 at the cost of N50million raised through personal savings/loan and the helping hands of friends and associates, including Alhaji Aliko Dangote.

Uba also declared a BMW75, bought through personal savings and loans. The car was purchased for N25million. Similarly declared was a Mercedes Benz GL 500, bought for N17million raised in the same fashion of personal savings/loans.

Also listed in the form is a 250 KVA power generating set bought at N12.5million, Italian leather furniture bought at N10million ( raised through personal income), beds and beddings costing N6.5million( bought with personal income).

 Uba, who, for long, falsely claimed to hold a PhD, until he was exposed as a fraud by a news magazine, clearly lied in his assets declaration form. This was recently shown when his name came up in the Panama Papers Leaks as the owner of an offshore company; Wentworth Properties Limited registered in the Republic of Seychelles, an infamous tax haven. The company, which was conspicuous by its absence from his assets declaration form, was said to have been founded in 2004.
According to the Panama Papers Leaks, one Marta Edghill, "the president" and Viana Scott, "the secretary", helped Uba set up the company, whose legal address was listed as Suite 13, First Floor, Oliaji Trade Centre, Francis Rachel Street, Victoria, Mahe, Republic of Seychelles. The address given, however, was that of Mossack Fonseca, the legal firm at the heart of the Panama Papers Leaks. This implies that Uba's Wentworth Properties was an invention, as it has neither the characteristics of an office nor a structure.

The inaugural meeting of the board of the simulated company held on  November 3, 2004. According to leaked minutes of the meeting, the purported president and secretary resolved that Uba is issued 4,950 shares valued at $1 each. One Mrs. Sederica Vedelago has issued 50 shares with a value of $1 each. There is no evidence of any business done by the company, which remains in existence.
Uba, who a Special Assistant on Domestic Matters to former President Olusegun Obasanjo lived in the United States before 1999. He was said to have been indigent when he returned to serve Obasanjo, in whose kitchen cabinet he became a stupendously rich and influential figure. Abetted by Obasanjo, he ran for the Anambra State governorship in 2007 and was declared a winner. His days in the Anambra Government House, however, lasted 16 days. He was removed by a court, which ruled that an election should not have held in the state because the then incumbent governor, Mr. Peter Obi, had not completed his term.


Source:SaharaReporters