Report exposes $1 billion Dubai property investments linked to Nigerian Politicians, see full list

• Top Nigerian politicians and government officials have been linked to major properties in Dubai
• According to reports making the rounds on the internet, 200 notable figures implicated include Atiku Abubakar and Nasir El-Rufai reportedly own $1 billion in Dubai properties
• Nigerians are the second-largest group of foreign property owners in Dubai, with PEPs and government-connected individuals accounting for 88% of Nigerian-owned assets

Legit.ng journalist Esther Odili has over two years of experience covering political parties and movements.

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.

El-Rufai, Lateef Fagbemi and Atiku allegedly own $1Bn properties in Dubai. Photo credit: Nasir El-Rufai, Lateef Fagbemi and Atiku Abubakar
Source: Facebook

Report exposes $1 billion Dubai property linked to politicians

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.

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As reported by BusinessDay, this investigation came to light as part of a project named ‘Dubai Unlocked.' This six-month investigation into the UAE’s 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 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.

Nigerian owners of Dubai properties

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:

1. Atiku Abubakar

The former Vice President Atiku Abubakar owns a three-bedroom flat estimated at $1.23 million at Palm Tower in Dubai.

2. Atiku's 23 years old daughter

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.

3. Lateef Fagbemi

The report also disclosed that Nigeria’s chief attorney and justice minister, Lateef Fagbemi owns an $85,846 property at Al Hebiah Third.

4. Nasir El-Rufai

The former governor of Kaduna state, Mallam Nasir El-Rufai, reportedly owns a four-bedroom flat valued at $193,084 at Al Hebiah Third.

5. Yusuf Datti Baba-Ahmed

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.

6. Attahiru Bafarawa

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.

7. Senator Ibrahim Folorunsho Jimoh

According to the investigation, Senator Ibrahim Folorunsho Jimoh, representing Ondo South, has been linked to seven properties.

8. Ike Ekweremadu

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.

9. 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.

10. Ashe Ahmadu Muazu

Wife of a former PDP chairman, owns a property located at Hadaeq Sheikh Mohammed Bin Rashid, valued at $1.16 million.

Tinubu replies New York Times on Nigeria's economic woes

Earlier, Legit.ng reported that President Tinubu said on Sunday, June 16, that it inherited a severely weakened economy but is resolutely tackling the nation’s economic challenges.

Tinubu was replying to a New York Times (NYT) feature article titled: “Nigeria Confronts Its Worst Economic Crisis in a Generation."

The feature, penned by Ruth Maclean and Ismail Auwal, highlighted Nigeria’s economic woes, citing rampant inflation and a plummeting national currency exacerbating hardships for millions struggling to afford necessities.

Source: Legit.ng