Dino Melaye Shares How He Built His Wealth Without Stealing

Former Kogi West senator Dino Melaye has shared how he became wealthy. He denied claims that his lifestyle comes from stealing public funds.

Melaye said he would not call himself extremely wealthy but rather “comfortable.” He claimed his wealth comes from investments he made over many years.

The ex-senator also rejected the idea that he stole public money or got rich through government contracts. He said anti-corruption agencies would have looked into him if there was any evidence of wrongdoing.

The member of the African Democratic Congress (ADC) spoke during an interview on the KaaTruths podcast posted on YouTube on Thursday.

He explained, “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. I’ve never been invited by the EFCC, the ICPC, or any of the anti-corruption agencies in this country, because I’ve never handled government contracts, whether at the federal or state level.

Melaye shared a story from his youth. “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. From the offspring of that goat, I paid for my WAEC, JAMB, and my first and second years at Ahmadu Bello University. My school fees were paid through that investment. At 18, I was already investing internationally, though not on a large scale. You don’t need to have all the money on earth to start investing.”

He also mentioned he invested money from goat sales in Eurobonds 27 years ago when one euro was 60 naira.

Melaye encouraged Nigerians to invest with whatever little money they have. He said waiting to save a large amount is not necessary.

“So you can calculate what that investment would be worth today, because I never touched it. Even with all the dividends, I rolled it over year after year, and it’s still there. Do you know what the value of the Euro is today? When I bought my Apple shares, how much were they worth? Today, what is it worth? I also bought Microsoft shares. In fact, when I bought my shares in Uber, my friends laughed at me. “Uber? What’s wrong with you?” Today, I know what it’s worth. When I got some Zoom shares, people laughed at me, too.

He continued, “Then Covid came, and Zoom’s value multiplied 400 times over. So, ask God for direction. 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. But people who don’t know what you do can call you names; they can say your money is from politics, or that your money is from anywhere. But I’ve been out of the office since 2019.”

Mr Melaye also spoke about his faith. He believes in God’s supremacy over everything.

He described himself as hardworking and persistent. He mentioned making smart choices and having a second source of income.

Since leaving office, he has focused on his businesses. He said nothing beats investing.

“I’ve been out of public office since 2019, seven years ago. My standards have not dropped. Of course, you know there’s a second address. Yes, of course, you know there are other sources of income. But make sure that you invest. Today, by the grace of God, my portfolio spans Qatar, Oman, Dubai, America, and Sweden. When I started in Dubai, I bought studios and rented them out on Airbnb.

“From the studio, I bought a one-bedroom. From a one-bedroom, I moved to a two-bedroom. From a two-bedroom, I bought my own house in downtown Dubai on one of the city’s most expensive streets, the first duplex in a tower. 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. So you must be tenacious in life.”

Melaye concluded by saying anyone who fails to plan is planning to fail. He urged all Nigerians to choose creative altruism or risk being caught in selfishness.