UK Document Reveals How Son Of Nigeria’s President-Elect, Seyi Tinubu Bought Fraud-Linked $11m Mansion

Seyi Tinubu, son of the Nigeria’s President-Elect, Asiwaju Bola Tinubu has been accused of purchasing a property in London, the United Kingdom, for about $11 million.

The mansion, located in North London, was reportedly bought by the 37-year-old son of the former Governor of Lagos State in 2017, and his father received President Muhammadu Buhari at the house in 2021.

According to Bloomberg, the three-floor property in St. John’s Wood has an eight-car driveway, two gardens, electric gates and a gym.

It was said that the house, which was being investigated for seizure by the Nigerian government because of its link with fraud proceeds by a Nigerian citizen, Kola Aluko, was purchased by the Seyi through an offshore company, Aranda Overseas Corporation, which paid £9 million ($10.8 million) to Deutsche Bank for the mansion, which sits on a 7,000-square foot land.

The reputable journal described Seyi as the main shareholder of Aranda, which documents from the Pandora Papers leak of offshore companies data showed that the former Governor of Osun State, Adegboyega Oyetola, who is also a relative of the President-elect, was on the board until 2010.

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Bloomberg disclosed that Seyi, according to documents filed this year in response to new anti-money laundering rules in the UK because it was registered on January 20 as an overseas entity in the UK, has been in control of British Virgin Islands-registered Aranda since June 2011.

The report said Aluko is suspected of owning the property before it was allegedly acquired by Seyi, who is into advertising.

But Aluko, who was accused of $1.6 billion fraud by the Nigerian government, denied all allegations of wrongdoing, as the spokespersons of the Tinubus did not respond to comments on the issue, while a British lawyer listed as Aranda’s agent in the UK refused to speak on the matter due to confidentiality rules.

This Online News Media reported that Tinubu was declared the winner of the presidential election held on Saturday, February 25, 2023, by the Independent National Electoral Commission (INEC).

According to the INEC Chairman Mahmood Yakubu, Tinubu defeated Alhaji Atiku Abubakar of Peoples Democratic Party (PDP) and Peter Obi of Labour Party (LP) to emerge winner of the election.

However, the opposition partiies have refused to accept the presidential result announced by Yakubu on the ground that it lacks credibility and the rules and regulations stipulated by the Electoral Act 2022 was not followed.

Tinubu is currently facing several fraud allegations, including forfeiting $460,000 to the United States to settle a lawsuit in Chicago over funds from proceeds of heroin trafficking in his bank accounts.