Nigeria's president declares bank assets of only £100,000

Nigeria's new president, Muhammadu Buhari, has taken the unusual step of publicly declaring his personal wealth ahead of marking his 100th day in office on Saturday.

The results - if true - suggest a man of near-monkish modesty by the extravagant standards of the country's political class, with just £100,000 in his personal bank account.

It is considerably less than his vice-president, Yemi Osinbajo, who declared £900,000. And it is a mere drop in the ocean compared to the wealth of Nigeria's former dictator Sani Abacha, who siphoned off some £3 billion during his rule from 1993-1998, a feat that placed him alongside Congo's President Mobuto as one of Africa's greatest kleptocrats.

Mr Buhari’s spokesman, Garba Shehu, hailed the account of his wealth as evidence that the president lived a "Spartan lifestyle"- a claim that will no doubt be treated with scepticism by his political opponents.

However, Mr Buhari did enjoy a reputation for being personally corruption-free during his time as a military ruler in the 1980s, when he jailed hundreds of officials for embezzlement offences.

Nigeria Vice-President Yemi Osinbajo  Photo: Getty Images
The process then went into reverse under Mr Abacha, who hid much of his money in Swiss bank accounts.
Mr Buhari was elected in May on a promise to take a tougher line than his predecessor, Goodluck Jonathan, against the Boko Haram insurgency in Nigeria's north-east.
He has also pledged to hunt down corrupt officials who were in office before he came to power, who are blamed for leaving a £100 billion hole in state accounts.
As well as the money in his personal bank account, Mr Buhari declared ownership of five homes, two mud houses, an orchard and a ranch with 270 head of cattle.
The assets make him far richer than most ordinary Nigerians, but are broadly in line with an average member of the country's middle or upper class.
His vice-president also revealed that he owned several residences, including a two-bedroom mortgaged property in Bedford, north of London.
Mr Buhari's 100th day in office will be used by Nigerians as a yardstick of his war on Boko Haram, which he has vowed to crush altogether. Despite recent military gains against the group, it has continued to mount hit-and-run attacks.
On Friday, the International Organisation for Migration said that some 2.1 million people had fled their homes in northeast Nigeria as a result of Boko Haram violence - an increase on its previous estimate of 1.5 million.

NEWS 03:34