Bloomberg Report: Seyi Tinubu’s Company Purchased $10.8 million London residence linked to corruption

Kolawole Akanni Aluko, who the Federal Government claims purchased the mansion with money obtained through embezzlement, was the former owner of the property.

According to Bloomberg, Seyi Tinubu’s company Aranda Overseas Corp. bought a London mansion that the Nigerian government had attempted to seize as property acquired with proceeds from crime.

Seyi, the son of Bola Tinubu, the incoming president, purchased the home in 2017 for £9 million ($10.8 million) using the firm in which he holds the majority of the shares.

The house was formerly owned by Mr. Kolawole Akanni Aluko, who has been charged by the federal government of President Muhammadu Buhari with fraud totaling billions of naira and the purchase of the home using stolen money.

According to Bloomberg, “Nigeria’s government was seeking to arrest the home’s former owner at the time of the purchase, accusing him of fleeing while owing the nation an oil-trading debt worth more than $1.5 billion.”

The state was also aiming to seize the posh real estate and other assets that it believed Kolawole Aluko, a businessman, had bought with the proceeds of crime.

There was no indication that President-elect Tinubu was engaged in the purchase of the property, according to Bloomberg, which based its report on previously unreported corporate paperwork.

Bloomberg contacted Seyi and Tinubu’s spokesperson, but neither one returned their calls or texts.

Channels Television was unable to get in touch with Seyi for comment, and Tunde Rahman, the spokesman for Tinubu, did not return calls, texts, or WhatsApp messages.

The Bloomberg piece has subsequently received a lot of online attention and is currently trending on social media.

Aluko, for his part, refuted all accusations made against him, claiming that a decision rendered by a Federal High Court in February of this year exonerated him of the charge of $1.6 billion in fraud.

The judgment is being appealed by the Economic and Financial Crimes Commission (EFCC), who is prosecuting the case.

Additionally, according to Bloomberg, a British attorney listed as Aranda Overseas Corp’s representative in the UK declined to comment due to “confidentiality rules”.