Former Kogi West Senator, Dino Melaye, has dismissed claims that his wealth was acquired through public office, saying his financial success was built on investments he began making from a young age.
Melaye, a member of the African Democratic Congress (ADC), said he would not describe himself as extremely wealthy but as financially comfortable, attributing his position to decades of disciplined investment and business ventures.
Speaking on the KaaTruths podcast, the former lawmaker insisted that he had never stolen public funds or made money through government contracts.
He said the absence of invitations from anti-graft agencies was evidence that he had no case to answer.
“If my wealth were ill-gotten, if I had stolen government money, I would not be criticising the government, because they would have long come after me,” Melaye said.
He added that he had never been invited by the Economic and Financial Crimes Commission (EFCC), the Independent Corrupt Practices and Other Related Offences Commission (ICPC), or any other anti-corruption agency because, according to him, he had never handled government contracts at either the federal or state level.
How a Goat Helped Fund His Education
Melaye traced his investment journey to his childhood, recalling that he bought a goat at the age of 12 and used the proceeds from its offspring to finance his education.
“When I was 12, I bought a goat, and this goat would give birth, and I would sell its offspring to pay my school fees in secondary school,” he said.
According to him, the proceeds from the goat enabled him to pay his West African Examinations Council (WAEC) and Joint Admissions and Matriculation Board (JAMB) expenses, as well as his first and second years at Ahmadu Bello University.
He said he began investing internationally at about 18, stressing that people do not need large amounts of money before they can start building wealth through investments.
Investments in Global Companies
The former senator said he later invested in Eurobonds and shares of major international companies, including Apple, Microsoft, Uber and Zoom.
He recalled that some of his friends mocked him when he invested in Uber and Zoom, but said the investments later became highly valuable.
Melaye also said he had invested in franchise businesses in the United States for more than two decades, gradually expanding his holdings.
“When I started investing in franchise businesses in America, over 20 years ago, I started with one. One gave birth to two, two gave birth to three, three gave birth to four,” he said.
He urged Nigerians to start investing whatever amount they can afford rather than waiting until they have accumulated substantial wealth.
Business Expansion After Public Office
Melaye said he had remained financially active since leaving public office in 2019, maintaining that investment and business have been his major focus.
He disclosed that his investment portfolio now extends across several countries, including Qatar, Oman, the United Arab Emirates, the United States and Sweden.
According to him, his real estate journey in Dubai began with the purchase of studio apartments, which he rented out through Airbnb.
He said he gradually progressed from owning a studio apartment to a one-bedroom and then a two-bedroom property before acquiring a duplex in downtown Dubai.
“From there, I started buying more properties. Today, I don’t just have a portfolio of apartments in Dubai; I am a developer. I am building,” he said.
The former lawmaker said his experience demonstrated the importance of patience, planning and persistence in building wealth.
He also encouraged Nigerians to develop investment habits and make informed financial decisions, stressing that people who fail to plan risk failing to achieve their goals.
Melaye said his success had been driven by hard work, determination, investment and what he described as divine direction.
