A new report has it that about 200 Nigerian politicians and security officers have invested nearly $1 billion (N1.49 trillion) in the sprawling Dubai property market in less than two decades.
It was reported that wives and children of politically exposed persons (PEPs), court judges and top civil servants are in the party, amassing 1,600 properties in choice locations in Dubai, which is famed as the most populous city in the United Arab Emirates (UAE) and capital of the Emirate of Dubai.
As reported by BusinessDay, this investigation came to light as part of a project named âDubai Unlocked.’ This six-month investigation into the UAEâs booming and secretive property market was led by the Organized Crime and Corruption Reporting Project (OCCRP) with more than 70 media partners. Economy Post is the only Nigerian firm that participated in the project.
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.
Below is the list:
The former Vice President Atiku Abubakar owns a three-bedroom flat estimated at $1.23 million at Palm Tower in Dubai.
According to the report, Atiku Abubakar’s 23 years old daughter owns a one-bedroom flat at Trade Centre Second, valued at $104,135. She also reportedly owns another two-bedroom flat at Hadaeq Sheikh Mohammed Bin Rashid estimated at $289,305.75.
The report also disclosed that Nigeriaâs chief attorney and justice minister, Lateef Fagbemi owns an $85,846 property at Al Hebiah Third.
The former governor of Kaduna state, Mallam Nasir El-Rufai, reportedly owns a four-bedroom flat valued at $193,084 at Al Hebiah Third.
A chieftain of the Labour Party (LP) and running mate to Peter Obi in the 2023 presidential election, Yusuf Datti Baba-Ahmed, is also included in this list.
Eight properties valued at $2.28 million were traced to the politician and entrepreneur. The properties are located in choice locations such as Burj Khalifa, Al Yelayiss, Al Barsha South Fourth, and Town Square Safi 2.
Former Sokoto State governor, Attahiru Bafarawa, has been linked to seven properties valued at a total of $1.48 million.
Additionally, his wife owns a real estate asset located at Palm Jumeirah, worth $750,112.
According to the investigation, Senator Ibrahim Folorunsho Jimoh, representing Ondo South, has been linked to seven properties.
Additionally, five properties have been traced to Ike Ekweremadu, the former Deputy Senate President, who is currently serving a prison sentence in the United Kingdom. Senator Ekweremadu and his wife were convicted and sentenced to jail for over 15 years combined.
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 agencyâs directors. The property is valued at $590,807.
Wife of a former PDP chairman, owns a property located at Hadaeq Sheikh Mohammed Bin Rashid, valued at $1.16 million.
Earlier, TimesNow.com.ng reported that President Tinubu said on Sunday, June 16, that it inherited a severely weakened economy but is resolutely tackling the nationâs economic challenges.
Tinubu was replying to a New York Times (NYT) feature article titled: âNigeria Confronts Its Worst Economic Crisis in a Generation.”
