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, BusinessDay exclusively reported.
…Atiku, El-Rufai, Fagbemi, Uba, Datti, others linked
…Nigerians second highest foreign property purchasers with 1,824 assets
An investigation known as ‘Dubai Unlocked’ has revealed that Nigerian politically exposed persons (PEPs), officials, and security agents own properties worth an estimated $997.79 million in Dubai. The investigation, led by the Organized Crime and Corruption Reporting Project (OCCRP) and involving more than 70 media partners, sheds light on the secretive property market in the United Arab Emirates (UAE).
According to the Dubai Land Department, Nigerians are the second-highest foreign purchasers of Dubai properties, owning 1,824 real estate assets. Analysis by BusinessDay shows that PEPs, top security agents, civil servants, and people connected to the government, along with their family members, own 88 percent of properties linked to Nigerians in Dubai.
The ‘Dubai Unlocked’ investigation highlights concerns around corruption and transparency in Nigeria, as questions arise about how these public servants could afford such expensive properties on their official salaries.
