Nigeria’s corporate elite and leading bankers are quietly accelerating their investments in London real estate, underscoring a widening disconnect between the country’s harsh economic realities and the offshore wealth strategies of its richest citizens.
Over the past year alone, a string of high-profile purchases has brought renewed scrutiny to Nigerian capital flowing into the UK property market. Notable disclosures include reports linking the late Herbert Wigwe, former Group CEO of Access Bank, to over 100 London properties through offshore entities. Meanwhile, Roosevelt Ogbonna, current Access Bank CEO, reportedly secured a £15 million estate on Hampstead’s Billionaires’ Row, and billionaire Femi Otedola finalised the purchase of a £53 million mansion in St John’s Wood.
This massive flight of capital took place against a backdrop of severe domestic turbulence. While Africa’s most populous nation grappled with crippling inflation, soaring poverty, and tight liquidity, its ultra-rich continued to confidently park their wealth abroad—seemingly
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