New reports have emerged linking Bola Tinubu, the Nigerian president-elect, to multiple properties purchased in the United Kingdom (UK) by his associates during his time as Lagos state governor. The investigation by the Organised Crime and Corruption Reporting Project (OCCRP) revealed that 17 of the properties were purchased by Oladipo Eludoyin, who is both Tinubu’s associate and a director of Aranda Overseas Corp., between 2004 and 2007.
The OCCRP probe also discovered that Seyi Tinubu, the president-elect’s son, is the primary shareholder of Aranda Overseas Corp., an offshore company alleged to have purchased a $10.8m property that is currently under investigation by the Economic and Financial Crimes Commission (EFCC).
Tinubu himself was alleged to have been the beneficial owner of Flat 9 at 96-100 New Cavendish Street in London, bought by Abeeb Holdings Limited, in 1994. The investigation notes that Tinubu was forced by a US District Court in Illinois to forfeit $460,000 in 1993 as proceeds of narcotics trafficking.
Following his governorship, Tinubu was reported to have retained an influential position in Nigeria's politics. According to OCCRP's investigation, Tinubu played a leading role in selecting Babajide Sanwo-Olu, the incumbent governor of Lagos, despite calls from his party to allow Sanwo-Olu’s predecessor to continue serving. Sanwo-Olu himself resigned as a director from Aranda Resources Limited, another offshore firm, only twenty-six days before assuming office as governor in May 2019.
Both Fashola, Tinubu’s former aide and successor, and Sanwo-Olu were identified as having control of Aranda Overseas Corp's internal affairs, though have so far declined to comment on the matter. Tinubu's office also failed to respond to requests for a response.
Critics have expressed concern that Tinubu's perceived involvement in offshore companies risks undermining his integrity and may damage Nigeria's international reputation. The new allegations come as authorities in Nigeria ramp up their efforts to investigate and prosecute public officials implicated in corrupt activities.
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