Revealed: How Tinubu’s Son Allegedly Bought Fraud-Linked $11M London Mansion
- A fresh investigation indicates that the London mansion where president-elect, Bola Tinubu welcomed President Muhammadu Buhari on August 12, 2021, is the subject of a multi-billion fraud scandal
- According to the report by Bloomberg, Tinubu’s son, Seyi Tinubu is the main shareholder of Aranda Overseas Corp, and he has been in control of the British Virgin Islands-registered Aranda since June 2011
- Meanwhile, the property, which is situated in the wealthy Westminster neighbourhood of London, has become a sort of mecca to associates of Tinubu, and politicians of the ruling APC, after the former Lagos governor started staying there to recuperate
A report by Bloomberg has it that a firm belonging to the son of Nigeria’s president-elect bought an $11 million London mansion that his predecessor’s government was seeking to confiscate as part of a probe into one of the biggest corruption scandals in the West African nation’s history, according to previously unreported UK company documents.
There’s no suggestion that the president-elect, Asiwaju Bola Ahmed Tinubu was personally involved in the acquisition of the UK property in 2017, the report said.
Source: Facebook
Tinubu's wealth raised questions in the polity
Citing previously unreported UK company documents, the report said the property, acquired by Seyi’s firm was part of the biggest corruption scandals the administration of President Muhammadu Buhari was seeking to probe.
PAY ATTENTION: Join Legit.ng Telegram channel! Never miss important updates!
Tinubu's son now owns a UK Mansion, new report reveal
The reputable journal described Seyi Tinubu as the main shareholder of Aranda, which documents from the Pandora Papers leak of offshore companies data showed that the former Governor of Osun State, Adegboyega Oyetola, who is also a relative of the President-elect, was on the board until 2010.
"The documents seen by Bloomberg show the President-elect’s 37-year-old son is “the main shareholder of Aranda Overseas Corp., an offshore company that paid £9million ($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.
“The state was also attempting to confiscate the upscale real estate and other assets it suspected had been acquired by the businessman, Kolawole Aluko, with the profits of crime,” the Bloomberg report noted.
Legit.ng reports that Tinubu, aged 71, won the presidential election in February as the candidate of the ruling All Progressives Congress (APC) and is scheduled to succeed Buhari on Monday, May 29.
"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 report added.
Bloomberg said the younger Tinubu, according to documents filed this year in response to new anti-money laundering rules in the UK because it was registered on January 20 as an overseas entity in the UK, has been in control of British Virgin Islands-registered Aranda since June 2011.
The report further said that Tinubu’s spokesman and Seyi did not respond to emails, phone calls and text messages seeking comment. It also said a British lawyer listed as Aranda’s agent in the UK declined to comment citing confidentiality rules.
Nigerians react
Nigerians took to the comment section of the news website on Twitter and reacted to the development.
@bob_banke tweeted:
@realFFK @fkeyamo @adamugarba @BashirAhmaad it’s getting cleared that today will be a good day for Bola Ahmed to be arrested and thrown in jail."
@harryofido tweeted:
"We don drop this news since naa."
@mayor_swissnd tweeted:
"I weep for my country."
@Obajemujnr_ tweeted:
"Every minute tinubu edge closer to Aso Rock, Cr!minal cases."
@ExplainThisBob
"Automated
"The son of Nigeria's new president bought a very expensive house in London. The government was trying to take the house away because they thought it was part of a corruption investigation."
@rilwan_ola01
"From identity crisis to drug and now to theft … who exactly is this man?
@jiduwah tweeted:
"I don’t think there’s anyone more Corrupt than Pa Buhari."
Court gives verdict on Bola Tinubu's certificate forgery scandal
The certificate forgery filed by the Action Alliance (AA) against the All Progressives Congress (APC) presidential candidate, Bola Tinubu, has been dismissed by a federal high court in Abuja on Tuesday, December 13.
In a judgment delivered by Justice Obiora Egwuata, the suit filed by the AA was statute-barred as it overlapped the mandatory 14 days that the 1999 constitution (as amended) had made provision for.
According to Egwuata, the suit is now academic and grossly incompetent, adding that the court did not have the jurisdiction to entertain it or grant the relief that the plaintiff sought.
Source: Legit.ng
