The former Lagos state governor and the national leader of the ruling All Progressives Congress turned a year older this week. In his lengthy interview with TheNews Magazine the Jagaban, as Tinubu is popularly called, revealed the source of his first millions.
“At Deloitte and Touche, I chose to travel more than 80% of my working years there. And that is because if a staff chose to travel, he would make more money because he would get travel allowances,” Tinubu said.
The APC’s leader said he was sent on an assignment to help set up an accounting and auditing system for a joint-venture between National Oil and Aramco in Saudi Arabia. “We had gone there to set up their accounting and auditing system. It was while on that service that I got my financial break.
When I returned to the United States, my employers gave me a huge bonus, which instantly turned me into a millionaire. “The bonus was $850,000, before taxes. My salaries were also being paid into the bank and I was not touching them. At the time, my salary deposits in the bank had risen to about $1.8 million.” The ex Lagos governor was not frightened or confused by the development. He noted he had a strong grasp of financial matters, and he was happy.
His first big purchase from the millions of US dollars on his account was a house. The remaning funds were invested in the USA. “I was living well,” Tinubu said, adding that he stayed back working for several years in the USA after completing his degree in Chicago.
Bola Tinubu worked in Deloitte & Touche, now Deloitte Touche Tohmatsu Limited, before returning to Nigeria. Then he served as an accounting executive for Mobil. In the beginning of his political path, Tinubu first served as a senator in the short-lived third republic and later as the governor of Lagos state between 1999 and 2007. The politician has often been accused of making a fortune from corrupt deals and politics.
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