Tuesday, May 2, 2023


According to a Bloomberg report, Seyi Tinubu, the son of Nigerian President-elect Bola Tinubu, purchased a private three-floor residence in North London for $11 million in 2017 through an offshore shell company called Aranda Overseas Corporation. 

The property was previously confiscated from Kola Aluko, an oil dealer who allegedly defrauded Nigeria for nearly half a decade with former oil minister Diezani Alison-Madueke. Critics suggest that President Muhammadu Buhari is transferring seized assets from the cronies of his predecessor to his own allies, including members of his cabinet. 

Although Mr. Tinubu's involvement in the purchase is not clear, the affair could lend credence to such criticisms. Mr. Tinubu has faced allegations of corruption, drug dealing, and money laundering, which he denies. 

His political opponents have compiled these charges to challenge his victory in the presidential election, though a final ruling is not expected for several months.

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