Monday, 4 April 2016

Must read : Former Lagos State Gov. Tinubu Reveals How He Made His First Millions

Former Lagos State Governor and a leader of the ruling All Progressives Congress, APC, Bola Tinubu, has narrated how a working trip he made
while serving as an auditor for auditing giant, Deloitte and Touche, made him an “instant millionaire”.
Mr. Tinubu first served as a senator in the short-lived third republic and later
as governor of Lagos State between 1999 and 2007. He has been accused of making a fortune from politics.
“At Deloitte and Touche, I chose to travel more than 80 per cent 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,” Mr. Tinubu said in a lengthy interview he granted TheNews Magazine
on March 29 about his journey through life as he celebrated his 64th birthday.
Mr. Tinubu said he was sent on an assignment to help set up a an accounting and auditing system for a
joint-venture between National Oil and
Aramco in Saudi Arabia but by the time he returned to the United States, he discovered that his account had been
credited in millions. “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.” Asked if he was not frightened by the
development, Mr. Tinubu said, “No. This is because I had a strong grasp of financial matters. I was happy. I bought
a house from the money and invested the rest in the U.S. I was living well. I was living in one of the most affluent
neighbourhoods in the south of Chicago.”

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