Around 200 Nigerian politicians and security officers have invested nearly $1 billion (N1.49 trillion) in Dubai’s property market over the past two decades.
The investigation reveals significant investments in 1,600 properties by these politically exposed persons (PEPs), their families, and associates.
The report by BusinessDay lists several high-profile politicians, including:
- Atiku Abubakar: The former vice president is linked with a three-bedroom flat valued at $1.23 million at Palm Tower. His daughter, Hadiza, owns additional properties worth approximately $393,440.
- Nasir Ahmad El-Rufai: The former Kaduna state governor owns a four-bedroom flat worth $193,084 at Al Hebiah Third.
- Orji Uzor Kalu: The former governor of Abia state and current senator has properties linked to him, enhancing his substantial asset portfolio.
The report shows that PEPs, top security agents, civil servants, and their family members own 88% of the properties attributed to Nigerians in Dubai. The total value of these properties is estimated at $997.79 million.
The properties are situated in prestigious areas like Burj Khalifa, Marsa Dubai, Palm Jumeirah, and others. They range from flats and villas to studios and hotel rooms.
Other property owners listed are:
- Yusuf Datti Baba-Ahmed: Vice-presidential candidate of the Labour Party, owns eight properties valued at $2.28 million.
- Patrick Ifeanyi Uba: Senator and CEO of Capital Oil, has a villa valued at $1.13 million and additional properties linked to his wife.
- Attahiru Bafarawa: Former Sokoto State governor, owns properties worth $1.48 million.
- Ahmed Markafi: Former Kaduna State governor, owns a property in Burj Khalifa valued at $822,016.
- Late Tafa Balogun: Former police chief, linked to properties exceeding $1 million.
- Amadu Adah Ali: Former PDP chair, linked to three properties and a fourth belonging to his daughter.
- Maina Ma Aji Lawan: Former Borno State governor and senator, linked to 11 properties.
- Christabel Bentu: Former special assistant to Joshua Dariye, owns a property in Dubai.
