Senator Bassey Albert Akpan Net Worth

Net Worth:$5 Million
Date of Birth: September 28, 1972 (51 years old)

What is Senator Bassey Albert Akpan’s Net Worth?

Senator Bassey Albert Akpan is a Nigerian politician who has a net worth of $5 million. He served as the state’s finance commissioner in Akwa Ibom State from 2007 until 2014. He won re-election to the Senate for a second time in the February 2019 senate elections.

He was first elected to the Senate in March 2015 to serve as the senator for the Akwa Ibom North-East Senatorial District. The YPPNG counts him as a member. As a result of Justice Agatha Okeke’s ruling at the Federal High Court in Uyo, Akwa Ibom State, he is currently incarcerated in Ikot Ekpene.

He was convicted guilty by the court of six money laundering charges that the Economic Financial Crime Commission, or EFCC, had brought against him. He will have to spend 42 years in jail or prison.


Senator Bassey Albert Akpan was born on October 28, 1972, in Ididep Usuk village, Ibiono Ibom Local Government Area, into the family of Chief Albert Robert Akpan, a successful businessman, well-known politician, and philanthropist.

He was a local politician who represented Akwa Ibom North-East in the Federal Republic of Nigeria’s 8th Senate. From 2007 to 2014, he was Akwa Ibom State’s commissioner of finances.

He was originally elected to the Senate in March 2015 on the Peoples Democratic Party (PDP) ticket, and he was re-elected to the 9th Senate in February 2019 to represent the Akwa Ibom North-East Senatorial District.

Senator Albert started his secondary education at St. Patrick’s College in Calabar before going on to the University of Uyo, where he obtained a bachelor’s degree in economics (Second Class Upper Division).

At the prestigious University of Nigeria, Nsukka, he earned a master’s degree in business administration (MBA) as part of his continued quest of academic success.


He joined the International Operations and Consumer Banking/Retail Banking Unit of the United Bank for Africa (UBA) in 1997, marking the start of his professional career. At the Continental Trust Bank’s Victoria Island Lagos headquarters, he was promoted in 1999 to the post of Manager, Corporate Banking group.

Later, in 2003, he was hired by First Inland Bank Plc to manage the Uyo branch. During this time, he won the bank’s prize for the branch manager with the highest performance in the South-South region. In the bank’s mid-year review of the 2004 fiscal year, he also took home the prize for the top performing branch manager nationwide.

He took a job in 2005 as an assistant vice president at First City Monument Bank, where he was in charge of the company’s activities in the states of Cross River and Akwa Ibom. He devised crucial market penetration methods as the Zonal Head for the bank to maintain market share and growth.

He was also in charge of managing the day-to-day operations of more than 15 branches dispersed throughout the zone.

Career In Politics

His selection as a commissioner to the Akwa Ibom state government’s Executive Council in 2007 signaled his call to public service, which he accepted in exchange for being given control of the Finance Ministry.

He was able to increase the State’s Internally Generated Revenue (IGR) to N15.6 billion as of the fourth quarter of 2013 because of his extensive experience in the banking industry and economics background.

Additionally, he served as the head of the inter-ministerial direct labor coordination committee, whose responsibility was to oversee the use of direct labor in government projects in order to save money for the government.

In the fields of health, education, rural development, and human capital, he oversaw the accomplishment of nearly 6000 initiatives that had a direct impact on people’s lives. Albert presided over the inaugural Akwa Ibom state Revenue conference in April 2009.

Participants at the summit, which had the topic “Maximizing Internally Generated Revenue (IGR) Potentials in Akwa Ibom State – A Collective Responsibility,” came from a variety of the state’s socioeconomic sectors. It was held as part of a comprehensive plan to increase the state’s IGR.

He played a key role in discussions between the state and Standard Chartered Bank on the approval of a £325.24 million loan to fund projects in the state. In 2014, Senator Albert announced that he would seek the office of governor of Akwa Ibom State.

The Eket Senatorial District produced Mr. Udom Gabriel Emmanuel as the state’s governor because he chose to abide by his party’s zoning regulations out of devotion to the PDP, despite the fact that he was the front-runner.

On June 9, 2015, he took the oath of office as a Senator of the Federal Republic of Nigeria after having run for and won the Senate position under the PDP’s flag.

Career As A Senator

The Federal Republic of Nigeria swore Albert in as a senator on June 9, 2015. Even though it was his first time in the Senate, Albert stood out for his behavior and performance, sponsoring a number of legislation, motions, petitions, and other issues of strategic importance.

On the Senate floor, he proposed a motion to investigate the state of the Ikot Ekpene-Itu-Calabar roadway, which had been left unmaintained for a long time. As a result, a committee that he was a part of was established by the Senate.

He was officially sworn in as the senator representing the Akwa Ibom North East senatorial district on October 12, 2015, after the Appeal court affirmed his election. Bukola Saraki, the 8th Senate President, also appointed him to serve as the Senate’s chairman of the committee on gas resources.

To prepare the Petroleum Industry Bill, the Ministry of Petroleum Resources proposed spending N200 million of its budget on it; however, his committee rejected the plan (PIB). Additionally, the committee turned down a proposal for N200 million in funding for the revision of the Nigeria Gas Master Plan, citing its needlessness.

Due to his outstanding performance during his first term, the people of the Uyo Senatorial District (Akwa Ibom North-East) overwhelmingly backed his reelection to the National Assembly as a Senator of the Federal Republic of Nigeria in the 2019 General Elections.

He was chosen by the President of the 9th Senate, H.E. Ahmad Ibrahim Lawan, to chair the Committee on Upstream Petroleum Resources and to serve on a number of other committees.


Bribery involving cars

When Akpan was the finance commissioner for Akwa Ibom and the head of the state interministerial direct labor coordination committee in the years prior, the Economic and Financial Crimes Commission allegedly paid Jide Omokore for cars as a bribe.

This led to Akpan’s detention in May 2017 for this offense. The Direct Labour Coordinating Committee awarded contracts to the Omokore family’s businesses, Bay Atlantic Energy and Sahel Energy, according to reports.

The EFCC alleged the contracts were for the benefit of bribing Akpan. In a lawsuit against the EFCC for violating his fundamental human rights, Akpan claimed that the detention and inquiry were politically motivated.

Misstatement of Assets

After an investigation by the Special Presidential Investigation Panel on the Recovery of Public Property (SPIP), which accused Akpan of neglecting to disclose his ownership or the exact cost of a number of residences, charges were brought against Akpan for failing to register his true assets in June 2018.

The accusations, according to Akpan, were part of a failed scheme to damage his reputation.

Bill bribes to the oil industry

After the Petroleum Industry Bill (PIB) became law in August 2021, Akpan came under fire for allegedly enabling the bribery of federal lawmakers to ensure the legislation’s passage despite strong public resistance to some of the provisions.

As reported by the Peoples Gazette, at least $10 million in payments to lawmakers were made through arrangements made by Akpan and Minister of State for Petroleum Resources Timipre Sylva, with $1.5 million to $2 million coming to both Senate President Ahmad Lawan and House Speaker Femi Gbajabiamila.


Bassey Albert is the devoted husband and father of four beautiful kids. In addition, he is a big philanthropist.

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