By Akinsuroju Olubunmi
Dubai Assets: $1 Billion Nigerian politicians’ property scandal
An investigation has linked Tinubu’s Minister, Atiku, Datti Baba-Ahmed, and around 200 Nigerian politicians to properties in Dubai worth nearly $1 billion. Nigerians have become the second-largest foreign purchasers of Dubai properties, with 88% owned by politicians, security officers, and civil servants, according to a recent report by Business Day titled “Dubai Unlocked.”
The Organized Crime and Corruption Reporting Project (OCCRP) and Economy Post led the investigation, revealing that Nigerians own 1,824 real estate assets in Dubai. Prominent figures like former Vice President Atiku Abubakar, Nigeria’s Justice Minister Lateef Olasunkanmi Fagbemi, and Labour Party’s vice-presidential candidate Yusuf Datti Baba-Ahmed are among those linked to these properties.
Atiku owns a luxurious apartment in Palm Tower worth $1.23 million, while his daughter, Hadiza, has two properties valued at $104,135 and $289,305.75. Fagbemi owns a property worth $85,846 in Al Hebiah Third, and Datti Baba-Ahmed holds eight luxury properties totaling $2.28 million in prime Dubai locations.
Other notable names include Nasir Ahmad El-Rufai, former Governor of Kaduna State, with a four-bedroom apartment valued at $193,084, and Senator Patrick Ifeanyi Uba, CEO of Capital Oil, with a villa worth $1.13 million. His wife, Uchenna Uba, owns additional properties worth $1.70 million.
Former Sokoto State governor, Attahiru Bafarawa, and his wife have assets valued at over $2.23 million. Ahmed Makarfi, another former governor, owns a property in Burj Khalifa worth $822,016. The late police chief Tafa Balogun has properties exceeding $1 million in value.
Former Police AIG Mbu Joseph Mbu, PDP’s former Chairman Amadu Adah Ali, and his daughter Khadijah Nneamaka Ali own multiple properties. Maina Ma Aji Lawan from Borno State has eleven properties, while Ashe Ahmadu Muazu, wife of another former PDP chairman, has a $1.16 million property.
Senior officials like Isa Mahmoud Nuhu of the Nigerian Customs Service and former NEMA director Mohammed Sidi Sani are also linked to valuable Dubai properties. Hadiza Ali Sheriff, wife of a former Borno State governor, owns a luxury property worth $3.093 million.
The investigation highlighted the issue of capital flight and urged the UAE to implement stricter due diligence to prevent the acquisition of properties with illicit funds. Despite no concrete evidence of stolen public funds, corruption concerns remain significant.
Analysts suggest that Nigeria could improve its real estate sector by adopting strategies from Dubai, focusing on quality, location, and regulatory measures. Dubai’s property market continues to thrive, with a growth rate of 20.43% in the first quarter of 2024, and foreigners own around 43% of residential properties.
Properties, Politicians
Dubai Assets: $1 Billion Nigerian politicians’ property scandal