clock menu more-arrow no yes

According to a Bloomberg story, Seyi Tinubu, the son of Nigerian President-elect Bola Tinubu, is a shareholder in an illegally obtained property in London.

According to a report reviewed by Naija News on Tuesday, May 2, Seyi was linked to the acquisition of the London home under investigation by President Muhammadu Buhari’s administration during an investigation.

The mansion was allegedly purchased in 2017 for $10.8 million by the son of the former Governor of Lagos State through his firm.

According to the article, which used previously published United Kingdom (UK) company documents, the property in question was acquired by Seyi’s firm and was part of one of the largest corruption scandals that the Nigerian government under the current leadership was attempting to investigate.

It further argued that Seyi is the main shareholder of Aranda Overseas Corp., “an offshore company that paid £9 million ($10.8 million) to Deutsche Bank for the property in North London in late 2017.”

“The private three-floor residence in St. John’s Wood — a district favored by American bankers — is equipped with an eight-car driveway, two gardens, electric gates and a gym,” the report said.

It said at the time of the purchase, the Nigerian government was seeking to arrest the house’s former owner, accusing him of going on the run while owing the country an oil-trading debt worth more than $1.5 billion.

According to the article, the state is also aiming to seize the expensive real estate and other assets allegedly purchased by the businessman, Kolawole Aluko, with the proceeds of the crime.

The report did not specify whether Tinubu, the President-elect, was personally engaged in the buying of the UK property in 2017. It was noted, however, that the leaving president of Nigeria, Buhari, paid Tinubu a visit at the same location in August 2021, roughly four years after the alleged purchase.

Barring unforeseen circumstances, Tinubu would be sworn in as Nigeria’s next President on May 29, 2023.

Before now, Nigerians and many concerned bodies have repeatedly questioned Tinubu’s source of wealth, including throughout the recent election campaign, when he and his representatives were pressed about it by local and international media.

Bloomberg, however, said in the emerging report that Tinubu’s spokesman and Seyi failed to respond to emails, phone calls, and text messages seeking their comment on the London property under investigation.

It also said a British lawyer listed as Aranda’s agent in the UK declined to comment, citing confidentiality rules.

“In June 2016, a federal judge in the capital, Abuja, granted a request by the Economic and Financial Crimes Commission to seize more than a dozen properties that Aluko had acquired in Nigeria and abroad, including the one in St. John’s Wood. That forfeiture order was still in force when Tinubu’s son bought the house out of receivership 16 months later.

Do you find Xclusivesongs useful? Click here to give us five stars rating!