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May 2, 2023 Tinubu’s Son Allegedly  Spent ₦5bn On London Mansion Under Corruption Probe

Seyi Tinubu, the son of Nigeria's President-elect, Bola Ahmed Tinubu, has been linked to the purchase of a London mansion under investigation for fraud by the Nigerian government.

According to Bloomberg, Seyi's company, Aranda Overseas Corp, bought the property in 2017 for $10.8 million, which was part of a corruption scandal that the administration of President Muhammadu Buhari was investigating.

Aranda, where Seyi is the main shareholder since 2011, bought the private residence from Deutsche Bank in 2017 while the Economic and Financial Crimes Commission (EFCC) was investigating its former owner, Kolawole Aluko, accused of evading an oil-trading debt worth over $1.5 billion.

Aluko had lost the house to the bank in a foreclosure a year before the sale, but the property was one of many assets a court in Nigeria had granted the EFCC permission to seize in 2016 over allegations the businessman acquired them through illicit means.

Although the court trial cleared Olajide Omokore, a high-profile suspect linked to numerous corruption probes, of all allegations in February 2023, there is no indication of Bola Tinubu's involvement in the acquisition of the property.

However, Buhari visited him at the residence in August 2021, almost four years after Seyi's company bought the property.

Bloomberg reported that Seyi and his father's spokesperson did not respond to inquiries. Furthermore, the British lawyer listed as Aranda's agent in the UK declined to comment due to confidentiality rules.

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