afrol News, 29 June - The new Nigerian President, Umaru Yar'Adua, had turned his election promise into action by publicly declaring his assets, which amounts to US $5.4 million.

He also declared the assets of his wife, Turai Yar'Adua. Her assets worths
US $150,000.

President Yar'Adua declared his assets at the Code of Conduct Bureau (CCB)
in Abuja. He is the first Nigerian state official to declare his assets in
public.

The news was communicated to journalists by the President's Special
Communications, Mr Olusegun Adeniyi. He said by publicly declaring his
assets, the Nigerian leader does not breach any law.

By law, state officials are obliged to declare their assets in secret.
However, by desire they can make public declaration.

Mr Yar'Adua's declared assets include monies at hand, banks, value of
properties and two farms.

A cash of US $1.04 million of his wealth is deposited in five banks. US
$699,000 of this amount were the loans he had obtained from two banks.

His properties situated in Katsina, Kaduna and Abuja are estimated to cost
US $4.54 million while the two farms US $197,000.

The Nigerian leader also owns two million shares in Habib Nigeria Bank that
is on the verge of conversion to Bank PHB. He holds shares in Intercity Bank
and Muradi Hotels Ltd.

President Yar'Adua said personal savings and contributions to his election
campaign are the sources of his wealth.

By staff writer

© afrol News

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