Seyi Tinubu, the son of Nigeria’s President-elect, Bola Tinubu, has been linked to a London firm that paid $11million for a property in London.
The property was previously confiscated from a Nigerian businessman, Kola Aluko.
Seyi, 37-year-old, who controls the outdoor advertising market in Lagos State, was said to have bought the property in 2017, according to a report by business outlet, Bloomberg.
The medium in a story Tuesday morning said Seyi used an offshore shell company, Aranda Overseas Corporation, to close the purchase, which was facilitated through Deutsche Bank.
The property is reportedly tucked in an elite neighbourhood in North London.
The report further described the property as a private three-floor residence in St. John’s Wood, equipped with an eight-car driveway, two gardens, electric gates and a gym.
The property had been previously confiscated around 2016 from Kola Aluko, who reportedly connived with former Nigeria’s oil minister, Diezani Alison-Madueke, to fleece Nigeria.
Aluko bought the property for about $15million in 2013, indicating that it was sold four years later for a lower price, an uncommon scenario for such an upmarket neighbourhood.
However, Bloomberg said it could not immediately find indications that the President-elect, Bola Tinubu, 71, was involved in the purchase.
Follow us on Twitter at @thesignalng
Copyright 2023 SIGNAL. Permission to use portions of this article is granted provided appropriate credits are given to www.signalng.com and other relevant sources.