- Nigerians second highest foreign property purchasers with 1,824 assets
By Abiola Olawale
A recent study on ownership of multimillion Naira properties in Dubai has revealed that about 200 Nigerian individuals, including politicians, beneficiaries of political appointments, and security officers, own a collective portfolio of multimillion-dollar properties valued at nearly $1 billion (N1.49 trillion) in Dubai, a prominent city in the United Arab Emirates (UAE).
This was revealed in an investigation or study conducted as part of a project named ‘Dubai Unlocked.’
The project which was aimed at investigating the UAE’s booming and secretive property market, was led by the Organized Crime and Corruption Reporting Project (OCCRP) together with more than 70 media partners. Economy Post is the only Nigerian firm which participated in the project.
According to the details of the report, several Nigerian politicians including their wives, children and as well some politically exposed persons (PEPs), court judges and top civil servants have a total of 1,824 properties spread across Dubai.
Prominent Nigerian politicians like former Vice President Alhaji Atiku Abubakar; former Governor of Kaduna State, Mallam Nasir El-Rufai; former governor of Abia, Orji Uzor Kalu; former Deputy President of the Senate, Ike Ekweremadu, others were said to own mostly flats, villas, two- or three-bedrooms, villas, studios, and hotel rooms in Dubai, the data says.
The estimated value of properties owned by these Nigerian individuals in Dubai is $997.79 million.
However, the report clarified that this is not an indictment on the names listed, as there is no evidence that the individuals acquired the properties with stolen or public funds.
Nigerians are the second highest foreign purchasers of Dubai properties after India, owning 1,824 real estate assets in the flourishing market, according to the Dubai Land Department.
A breakdown of the report revealed that a former Vice President, Alhaji Atiku Abubakar purportedly owns a three-bedroom flat estimated at $1.23 million at Palm Tower in Dubai.
Atiku’s daughter, Hadiza, is also purportedly linked with a one-bedroom flat at Trade Centre Second, valued at $104,135. According to the report, Atiku’s daughter is also the purported owner of another two-bedroom flat at Hadaeq Sheikh Mohammed Bin Rashid estimated at $289,305.75.
Former governor of Kaduna State, Mallam Nasir Ahmad El-Rufai was also purportedly linked to a four-bedroom flat valued at $193,084 at Al Hebiah Third.
In the report, eight properties valued at $2.28 million were purportedly linked to Yusuf Datti Baba-Ahmed, vice-presidential candidate of the Labour Party 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.
Datti is currently not in government, but he was once a senator and member of the House of Representatives. He founded Baze University in 2011.
The incumbent Attorney-General of the Federation and Minister of Justice, Lateef Olasunkanmi Fagbemi, was also named in the report as the proposed owner of an $85,846 property at Al Hebiah Third.
One property is purportedly linked to a former governor of Abia State and the current lawmaker representing Abia North Senatorial District of Abia State in the Senate, Senator Orji Uzor Kalu.
Also, a former Deputy President of the Senate, who is serving a jail term in the United Kingdom, Ike Ekweremadu, purportedly owns five properties.
One property, a villa, valued at $1.13 million was purportedly traced to Patrick Ifeanyi Uba, chief executive of Capital Oil and Anambra South senator.
However, eight properties were purportedly traced to his wife, Uchenna Uba. The values of all the properties 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.
Seven properties valued at $1.48 million are purportedly linked to Attahiru Bafarawa, former Sokoto State governor, while another real estate asset, located at Palm Jumeirah and valued at $750,112, purportedly belongs to his wife.
A property at Burj Khalifa valued at $$822,016 purportedly belongs to Ahmed Markafi, former Kaduna State governor.
Late Tafa Balogun, former police chief, is purportedly linked with five properties in various locations, including Marsa Dubai. The properties cost more than $1 million today.
A property was purportedly traced to a former police assistant inspector-general (AIG), Mbu Joseph Mbu.
Three properties are purportedly linked with Amadu Adah Ali, former Peoples Democratic Party (PDP) chair, while one valued at $422,887 was traced to his daughter, Khadijah Nneamaka Ali.
Eleven properties were purportedly traced to Maina Ma Aji Lawan, former Borno State governor and senator, while one located at Hadaeq Sheikh Mohammed Bin Rashid, valued at $1.16 million, purportedly belongs to Ashe Ahmadu Muazu, wife of a former PDP chairman.
One property was purportedly traced to Christabel Bentu, a former special assistant to the one-time governor of Plateau State, Joshua Dariye.
Two properties were purportedly traced to Isa Mahmoud Nuhu, a Nigeria Customs Service (NIS) senior official. One property is estimated at $553,802.
Two properties were purportedly traced to Salisu Abdullahi Yushau, a former senior officer of the Nigerian Air Force.
A flat at Marsa Dubai, valued at $590,807, was purportedly traced to Mohammed Sidi Sani, 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.
A Marsa Dubai property valued at $3.093 million was purportedly linked to Hadiza Ali Sheriff, wife of former Borno State governor.
One real estate was purportedly linked to Nenadi Esther Usman, Nigeria’s former finance minister, while another property was traced to Bobboi Bala Kaigama, former Trade Union Congress (TUC) president.
Seven properties are purportedly linked to Ibrahim Folorunsho Jimoh, senator representing Ondo South, while another was purportedly traced to Jeremiah Useni, former military governor of old Bendel State.
A real estate estimated at $101,793.37 at Jabal Ali First purportedly belongs to Osita Ben Chidoka, former aviation minister, while another real estate asset is purportedly linked with Olisa Metuh, the former PDP spokesman.
A property at Marsa Dubai is purportedly owned by Abdulsalami Alhaji Abubakar, Nigeria’s former head of state. A property valued at $1.025 million is purportedly owned by Hassan Ardo Tukur, former principal secretary to President Goodluck Jonathan.
A property at Marsa Dubai was purportedly traced to Adeyemi Sabitun Ikuforiji, former speaker of the Lagos State House of Assembly. Another property is purportedly owned by Dan Etete (Dauzia Loya Etete), Nigeria’s former petroleum minister.
