About 200 Nigerian politicians and security officers have invested nearly $1 billion (N1.49 trillion) in Dubai real estate over the past two decades.
This is according to an exclusive Businessday report.
The report is from an investigation tagged ‘Dubai Unlocked,’ a six-month probe of UAE’s booming and secretive property market led by the Organized Crime and Corruption Reporting Project (OCCRP) together with more than 70 media partners.
The investigation revealed Wives and children of politically exposed persons (PEPs), court judges and top civil servants are in the pool.
Economy Post is reportedly the sole Nigerian company involved in the project.
According to the newspaper, 800 properties linked to Nigerian Politically Exposed Persons (PEPs) were identified in 2020.
This figure doubled to 1,600 properties by 2024.In terms of valuation, the report indicated that these 800 properties were worth $400 million in 2020.
By 2024, this value escalated to almost $1 billion for the 1,600 properties.
Citing the Dubai Land Department, the report noted that Nigerians are the second largest foreign purchasers of Dubai properties, following Indians.
“BusinessDay’s data analysis showed that aside from PEPs, top security agents, civil servants and people connected in government with their family members own 88 percent of properties ascribed to Nigerians in Dubai.”
“The locations are mostly posh areas, including Burj Khalifa, world’s tallest building; Marsa Dubai, Al Merkadh, Palm Jumeirah, Wadi Al Safa, Madinat Al Mataar, and Nad Al Shiba First, among others.
“Findings showed that some Nigerian male property registrants identified as females while did females registered as the opposite sex,” the report read.
FULL LIST:
ATIKU ABUBAKAR
A three-bedroom flat estimated at $1.23 million at Palm Tower in Dubai.
ATIKU’S 23-YEAR-OLD DAUGHTER
A one-bedroom flat at Trade Centre Second, valued at $104,135. She also owns another two-bedroom flat at Hadaeq Sheikh Mohammed Bin Rashid estimated at $289,305.75.
LATEEF FAGBEMI
Nigeria’s chief attorney and justice minister owns an $85,846 property at Al Hebiah Third.
NASIR EL-RUFAI
A four-bedroom flat valued at $193,084 at Al Hebiah Third was traced to the former Kaduna Governor.
YUSUF DATTI BABA-AHMED
Eight properties valued at $2.28 million were traced to the running mate to Peter Obi, Labour Party’s Presidential Candidate in the 2023 elections. The properties are located in choice locations such as Burj Khalifa, Al Yelayiss, Al Barsha South Fourth, and Town Square Safi 2.
IFEANYI UBA
A property valued valued at $1.13 million. While eight properties were linked to Uchenna Uba, his wife. The values were not inserted in the files, but one property (a villa) at Wadi Al Safa 7 costs about $1.13 million, while two others are valued at $294, 516 each.
JIMOH IBRAHIM
7 properties were linked to the senator representing Ondo South.
IKE EKWEREMADU
Five properties were traced to Ike Ekweremadu, former deputy Senate president, who is serving a jail term in the United Kingdom.
ORJI UZOR KALU
One property was traced to the former Abia State governor who is now a senator.
JEREMIAH USENI
One property was traced to the former military governor of old Bendel State.
OSITA CHIDOKA
A real estate estimated at $101,793.37 at Jabal Ali First was traced to this former aviation minister.
OLISA METUH
Another real estate asset was linked to Olisa Metuh, former PDP spokesman.
ABDULSALAMI ABUBAKAR
A property at Marsa Dubai is said to be owned by Nigeria’s former head of state.
HASSAN ARDO TUKUR
A property valued at $1.025 million is reportedly owned by a former principal secretary to ex-President Goodluck Jonathan.
ADEYEMI IKUFORIJI
A property at Marsa Dubai was traced to this former speaker of the Lagos State House of Assembly.
DAN ETETE
Another property is said to be owned by Dan Etete (Dauzia Loya Etete), Nigeria’s former petroleum minister.
BOBBOI KAIGAMA
A property was traced to this Labour leader who was Trade Union Congress (TUC) president.
SALISU ABDULLAHI YUSHAU
Two properties were traced to this former senior officer of the Nigerian Air Force.
MOHAMMED SIDI SANI
A flat at Marsa Dubai, valued at $590,807, was traced to the former director-general of the National Emergency Management Agency (NEMA), who was sacked in April 2023 with seven of the agency’s directors. The property is valued at $590,807.
HADIZA ALI SHERIFF
A Marsa Dubai property valued at $3.093 million was linked to wife of former Borno State governor.
NENADI USMAN
One real estate was linked to this Nigeria’s former finance minister.
ATTAHIRU BAFARAWA
7 properties valued at $1.48 million, while another real estate asset, located at Palm Jumeirah and valued at $750,112, belongs to his wife.
AHMED MARKAFI
A property at Burj Khalifa valued at $$822,016 was traced to the former Kaduna governor
TAFA BALOGUN
The former Inspector-General of Police, who is now late, was linked with five properties in various locations, including Marsa Dubai. The properties cost more than $1 million.
MBU JOSEPH
A property was traced to the former Assistant Inspector-General of Police (AIG).
AHMADU ALI
A property whose value was not stated was traced to the former Peoples Democratic Party (PDP) chairman, while one valued at $422,887 was traced to his daughter, Khadijah Nneamaka Ali.
MAINA AJI LAWAN
11 properties were traced to the former Borno State governor and senator.
ASHE AHMADU MUAZU
Wife of a former PDP chairman, owns a property located at Hadaeq Sheikh Mohammed Bin Rashid, valued at $1.16 million.
CHRISTABEL BENTU
A former special assistant to one-time governor of Plateau State, Joshua Dariye, owns a property .
ISA MAHMOUD NUHU
Two properties were traced to this Nigeria Customs Service (NIS) senior official. One property is estimated at $553,802.
However, the newspaper clarified that the report is not an indictment on the names listed, as there is no evidence that the individuals acquired the properties with stolen or public funds.
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