Festus Keyamo, minister of state for labour and employment, says he used funds from his private law practice to acquire his property in the country and abroad.
Keyamo said this in reaction to a claim that he acquired a US home for over $300,000 shortly after he was appointed minister in 2019.
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In a tweet on Saturday, the minister said: “By letters dated March 6, 2019 (long before I was appointed a Minister and immediately I was appointed a board member of the NDIC), and in line with our constitution, I wrote to the relevant government agencies, informing them of the closure of my foreign account(s) and the repatriation of my funds to the country.”
Nigerian law does not allow public officials to operate foreign bank accounts.
According to keyamo, the funds were some savings he made “as a private legal practitioner and a property investor over decades.” He added that he did not want them “lying idly” in his bank account.
“Two days ago, I decided to bait the horde of sore losers at the last elections with a video of my vacation in ONE OF MY PROPERTIES abroad as I did a light workout. Expectedly, they fell so terribly for the bait. Being folks of low moral standards, they seem to view everyone from…
“The numbers of those accounts, both abroad and in Nigeria were clearly stated in those letters. Those foreign funds were lying in my accounts until my appointment as a Minister later in 2019 and formed part of my assets declaration.
“In 2021, I again wrote to the relevant agencies (by letters dated January 22, 2021), informing them of the movement of those funds out of the country to purchase a property as a better investment decision.
“I have the acknowledged copies of those letters and those chats and replies are still on my phone, showing the dates of those chats.”
The minister said it is laughable to suggest that after his hard work of over 30 years, he could not afford “a relatively modest property”.
“Those who are very close to me over the years know exactly what I am talking about. My flourishing and manned law Chambers (whilst I am away on national assignment) and my real estate investments are still far more financially profitable than serving my country.
“Ours is a labour of love to my country. My assets declaration is there for all to see. Some of us don’t need government funds or patronage to get by. Whatever we do and whoever we support is out of our deep convictions.”