Seyi Tinubu’s Firm Bought Corruption-Linked London Mansion For $10.8m

Bloomberg reports that Nigerian President-elect Bola Tinubu’s son, Seyi Tinubu’s firm, bought the corruption-linked mansion for $10.8m. The mansion was previously owned by Kolawole Akanni Aluko, who the Nigerian government accused of purchasing it with embezzled funds.

According to a recent report by Bloomberg, Aranda Overseas Corp, a company owned by President-elect Bola Tinubu’s son Seyi Tinubu, purchased a London mansion that the Nigerian government had tried to seize because it was bought with the embezzled funds. He purchased the property in 2017 through the firm (which he has majority shares) for £9 million ($10.8 million).

Bloomberg reports, “At the time of the purchase, Nigeria’s government was seeking to arrest the house’s former owner, accusing him of going on the run while owing the country an oil-trading debt worth more than $1.5 billion. The state was also attempting to confiscate the upscale real estate and other assets it suspected had been acquired by the businessman — Kolawole Aluko — with the profits of crime.”

The report further states that there is no suggestion that the president-elect was involved in the property acquisition. The report was based on previously unreported company documents. The mansion’s former owner, Aluko, denied any wrongdoing. He claimed a Federal High Court in Nigeria cleared his name of the $1.6 billion fraud allegation.

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