It has been revealed that President-elect, Bola Tinubu’s family bought an $11 million London mansion the federal government was seeking to confiscate as part of a probe into one of the biggest corruption scandals in the country, Bloomberg has revealed.
According to the report, a firm belonging to the son of Nigeria’s president-elect bought the $11 million London mansion from a Nigerian businessman accused of bribing and compromising a government minister.
According to the report, there’s no suggestion that President-elect Bola Tinubu was personally involved in the acquisition of the UK property in 2017. Current President Muhammadu Buhari visited him there in August 2021, nearly four years after the purchase took place. Tinubu, who will take over as head of state this month, has long been questioned about the source of his family’s wealth, including throughout the recent election campaign, when he and his representatives were pressed about it by local and international media.
He and his campaign have said he made his fortune before going into politics by inheriting real estate, investing well and working as an accountant at Deloitte LLP and an executive at the Nigerian subsidiary of Mobil Oil in the 1980s and early 1990s. In an interview with the BBC in the run-up to the election, Tinubu cited Warren Buffett as an example he followed to become rich.
The corporate documents seen by Bloomberg show for the first time that Tinubu’s 37-year-old son Oluwaseyi 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.
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