- A new report has revealed how Bola Tinubu's son, Seyi Tinubu, paid N5 billion for a London mansion
- The purchase has raised eyebrows because the property's previous owner was once linked to fraud
- Tinubu is said to have bought the property through his company Aranda Oversea Corporation, an offshore company
According to Bloomberg, Seyi Tinubu, the son of Nigeria’s President-elect, Bola Ahmed Tinubu, purchased a property in London, United Kingdom, for about $11 million( N5.06 billion).
The mansion, which sits on a 7,000-square foot of land in North London, was reportedly bought through Aranda Overseas Corporation.
The property purchased, Bloomberg said, is a three-floor property in St. John’s Wood with an eight-car driveway, two gardens, electric gates, and a gym.
Issues surrounding the house
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Further information indicates that the house was up for seizure as it was owned by Kola Aluko, who is under investigation by the Nigerian government for suspected links with fraud proceeds.
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Despite the concerns, Bloomberg reports that Aranda Overseas Corporation paid £9 million ($10.8 million) to Deutsche Bank for the mansion.
Aranda Overseas Corporation operation details
Legit.ng's checks on the UK government service website showed that Aranda Overseas Corporation was registered on January 20, 2023, as an overseas entity in British.v. Islands since June 2011.
Its office address is Vistra Corporate Services Centre Wickhams Cay Ii, Road Town, Tortola, British Islands, VG1110.
While the UK office is at Flat 9, 96-100 New Cavendish Street, London, United Kingdom, W1M 7FA.
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Oluwaseyi Tinubu, born on October 1985, is mentioned as the beneficiary owner with more than 25% stake.
Breakdown of amount required to relocate to UK for singles, married
In another report, Legit.ng disclosed that a Nigerian residing abroad published a comprehensive estimate of how much it may cost to migrate to the United Kingdom.
Although he clarified that it was only an estimate, his study would guide Nigerians travelling as singles, couples, and families.
The number of Nigerians leaving for the UK is at an all-time high, mainly for studies.
Source: Legit.ng
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