Dino Melaye Reveals How He Became Rich

Former Kogi West senator, Dino Melaye, has broken silence regarding the origins of his financial status, dismissing claims that his lavish lifestyle stems from public office funds.

Speaking as a guest on the KaaTruths podcast released on YouTube on Thursday, the African Democratic Congress (ADC) member clarified that he considers himself “comfortable” rather than extraordinarily wealthy, pointing to long-term investments spanning several decades as the foundation of his success.

Melaye firmly denied accusations of embezzling state funds or engaging in government contracts, asserting that anti-corruption authorities would have otherwise probed him.

“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,” he stated.

Tracing his financial journey, the former lawmaker shared how his entrepreneurial mindset began during his childhood: “When I 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 revealed that he channeled returns from his early goat business into Eurobonds 27 years ago when a single euro traded for 60 naira, continuously rolling over the dividends.

Urging Nigerians to start investing early instead of waiting for massive capital, Melaye added: “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 noted that the COVID-19 pandemic caused Zoom’s value to surge exponentially, emphasizing the importance of divine guidance and global asset diversification.

Detailing his real estate and franchise expansion over the past two decades, he remarked: “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.”

Highlighting his tenacity, hard work, and faith, Melaye emphasized that maintaining alternative income streams is vital, noting that he has focused extensively on his private business ventures since leaving public service seven years ago.

“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,” Melaye explained.

Describing his transition from owning studio apartments to becoming a property developer in Dubai, he stressed that failure to plan is a plan to fail, while calling on Nigerians to embrace creative altruism over destructive selfishness.