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Friday, April 19, 2024

Seyi Tinubu buys $11m London property linked to confiscated assets – Bloomberg report

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According to a recent report by business outlet Bloomberg, Seyi Tinubu, the son of the president-elect Bola Tinubu, has been linked to the purchase of a London property that was confiscated from Kola Aluko for $11 million. It is alleged that Seyi, who controls the outdoor advertising market in Lagos, bought the property in 2017 through his offshore shell company Aranda Overseas Corporation, with the assistance of Deutsche Bank.

The property is a luxurious private three-floor residence located in St. John’s Wood, an elite neighbourhood in North London. It boasts of an eight-car driveway, two gardens, electric gates and a gym. The property was previously confiscated in 2016 from Kola Aluko, who reportedly conspired with former petroleum minister Diezani Alison-Madueke to defraud Nigeria.

While Bloomberg could not find indications that Bola Tinubu, 71, was involved in the purchase, Seyi Tinubu’s alleged connection to the London property could raise eyebrows, considering the political influence his father wields in Nigeria.

This recent development could also spark interest in investigations into Seyi Tinubu’s business dealings and assets, especially with the ongoing crackdown on corruption and illegal acquisition of wealth in Nigeria.

The purchase of this London property linked to confiscated assets highlights the need for transparency and accountability in the acquisition of wealth, especially in the public sector.

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