According to a report by Premium Times on Friday, August 14, 2026, former Kogi West Senator Dino Melaye has spoken publicly about the source of his wealth, insisting that his lifestyle was not financed through public funds or government contracts.
Melaye, who represented Kogi West in the Senate from 2015 to 2019, said he would not describe himself as “extremely wealthy” but rather as financially comfortable, adding that his current status was the result of investments built over several decades.
The former lawmaker made the remarks during an interview on the KaaTruths podcast published on YouTube on Thursday.
According to him, allegations that he acquired wealth illegally are unfounded, stressing that anti-corruption agencies would have investigated him if there were evidence of wrongdoing.
“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.
Melaye traced the beginning of his financial journey to his childhood. He said that at the age of 12 he bought a goat whose offspring he sold to pay his school fees.
“From the offspring of that goat, I paid for my WAEC, JAMB, and my first and second years at Ahmadu Bello University,” he said.
He explained that the experience taught him the value of investment and financial discipline, noting that he began investing internationally at the age of 18.
The former senator disclosed that he invested proceeds from the goat business in Eurobonds about 27 years ago, when one euro exchanged for about ₦60, and that he consistently reinvested the returns rather than spending them.
He also said he later invested in global technology companies including Apple, Microsoft, Uber and Zoom, adding that some of his friends initially mocked those decisions.
“When I bought shares in Uber and Zoom, people laughed at me, but I stayed with the investments,” he said.
Melaye urged Nigerians to start investing with whatever amount they can afford instead of waiting until they accumulate substantial capital.
Speaking further, he said he had focused on his businesses since leaving public office in 2019 and that his investment portfolio now includes interests in Qatar, Oman, Dubai, the United States and Sweden.
He explained that his property investments in Dubai began with studio apartments rented out through Airbnb before he expanded into larger properties and property development.
“Today I am not just buying apartments in Dubai; I am developing properties,” he said.
Melaye said discipline, hard work, perseverance and sound decision-making are essential for wealth creation. He also emphasised the importance of planning for the future.
“Anyone who fails to plan ultimately plans to fail,” he said.
The former senator concluded by encouraging Nigerians to embrace productive and creative pursuits, saying sustainable wealth is built through consistent effort and long-term investment rather than quick gains.
