Majority of the purchases were made when Jonathan was President.
By Omotayo Olutekunbi
According to a research by Finance Uncovered, 137 Nigerians quietly acquired properties worth millions of pounds in the United Kingdom over the last three decades.
According to the study, a flood of cash entered the London housing market beginning in 1991.
The majority of the acquisitions were made through offshore or shell firms by Nigerian elite, politicians, and business leaders.
According to Premium Times, which co-authored the study, 166 such firms purchased at least 233 houses and apartments for a total of £350 million during the last three decades.
Between 2010 and 2015, when Nigerian President Goodluck Jonathan was in office, the majority of the purchases were made by Nigerians.
The ‘Pandora Papers,’ a major leak from corporations that specialize in setting up offshore companies for wealthy and important individuals in tax havens such as the British Virgin Islands, Seychelles, Switzerland, and Panama, is presently being published by journalists from around the world.
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