Nigerian president elect sons paid 5 billion for a property of which the previous owner was linked with fraud

A new report has revealed how Bola Ahmed Tinubu son Seyi Tinubu paid N5 billion for a London mansion.

 The purchase has raised eyebrows because the property's previous owner was once linked to fraud.

 Seyi Tinubu bought the property through his company Aranda oversea Corporation, an offshore company .

 

According to Bloomberg, Seyi Tinubu, the son of Nigeria’s President-elect, Bola Tinubu, purchased a property in London, the United Kingdom, for about $11 million( N5.06 billion). 

The mansion, which sits on a 7,000-square foot land is located in North London, was reportedly bought through Aranda Overseas  cooperation. 

The property purchased, Bloomberg said, is a three-floor property in St. John’s Wood with an eight-car driveway, two gardens, electric gates, and a gym. 

Further information indicates that the house was up for a potential seizure as it was owned by Kola Aluko, who is under investigation by the Nigerian government for suspected links with proceeds of fraud.

Despite the concerns, Bloomberg reports that Aranda Overseas Corporation paid £9 million ($10.8 million) to Deutsche Bank for the mansion. Aranda Overseas Corporation operation details.

Jistown.blogspot.com Checks on the UK government service website showed that Aranda Overseas Corporation was registered on January 20, 2023 as an overseas entity in British.v. Islands since June 2011. 

It's office address is Vistra Corporate Services Centre Wickhams Cay Ii, Road Town, Tortola, British Islands, VG1110. While the UK office is at Flat 9, 96-100 New Cavendish Street, London, United Kingdom, W1M 7FA.

Although 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.