Seyi Tinubu purchases $11million London property linked to fraud recovery

A firm owned by Oluwaseyi, son of Bola Tinubu, the President-elect of Nigeria, has purchased an $11 million private three-floor residence in St. John’s Wood, London.

The building is located in a district preferred by American bankers and equipped with an eight-car driveway, two gardens, electric gates and a gym.

Reports have it that the Nigerian government plans to confiscate the property in a bid to investigate an impending case of corruption in the country.

Although it is not ascertained whether Tinubu personally had a part in buying the property in 2017, reports has it that he has received President Buhari there as a guest in August 2021.

Business documents collected revealed that Aranda Overseas Corp., the offshore company that paid £9 million ($10.8 million) to Deutsche Bank to purchase the property has Oluwaseyi as a main shareholder.

Both Tinubu’s spokesman and his son were silent to emails, phone calls and text messages seeking comment on the purchase. A British lawyer listed as Aranda’s agent in the UK also remained silent on the matter based on confidentiality rules. Prior to Tinubu’s son purchasing the property, the former owner of the house was wanted by the Nigerian government for refusing to pay the country an oil-trading debt worth over $1.5 billion.