The investigation also found that Nigerians are the second-largest foreign purchasers of Dubai properties, after India. They own a total of 1,824 real estate assets in Dubai, with 88 percent of these properties owned by politicians, security officers, civil servants, and their family members.

About 200 Nigerian politicians and security officers, along with their families, have invested nearly $1 billion (N1.49 trillion) in the Dubai property market

A recent investigation by Business Day tagged ‘Dubai Unlocked’ The investigation, led by the Organized Crime and Corruption Reporting Project (OCCRP) and Economy Post, revealed that the individuals have amassed a total of 1,600 properties in prime locations in Dubai over the past two decades

Dubai Unlocked, a six-month investigation into the UAE’s property market, involved more than 70 media partners.

BusinessDay obtained exclusive files from Economy Post detailing the properties owned by Nigerian politicians, their family members, civil servants, and others linked to Dubai properties. The estimated value of these properties is $997.79 million.

The investigation also found that Nigerians are the second-largest foreign purchasers of Dubai properties, after India. They own a total of 1,824 real estate assets in Dubai, with 88 percent of these properties owned by politicians, security officers, civil servants, and their family members.

Former Nigerian Vice President Atiku Abubakar has been linked to a luxurious three-bedroom apartment in Dubai’s Palm Tower, valued at $1.23 million. Additionally, his daughter, 23-year-old Hadiza, owns two properties in Dubai – a one-bedroom flat at Trade Centre Second, worth $104,135, and a two-bedroom flat at Hadaeq Sheikh Mohammed Bin Rashid, valued at $289,305.75, which is reportedly used for commercial purposes.

Nigeria’s Justice Minister and Attorney General, Lateef Olasunkanmi Fagbemi, a renowned lawyer and Senior Advocate of Nigeria (SAN), has been linked to a property valued at $85,846 in Al Hebiah Third.

Similarly, Nasir Ahmad El-Rufai, the former Governor of Kaduna State, who served for eight years, owns a four-bedroom apartment in the same location, estimated at $193,084.

Yusuf Datti Baba-Ahmed, the Labour Party’s vice-presidential candidate in the 2023 elections, has been linked to eight luxury properties worth a total of $2.28 million.

These properties are situated in prime locations, including Burj Khalifa, Al Yelayiss, Al Barsha South Fourth, and Town Square Safi 2. Although he currently holds no government position, Datti has previously served as a senator and member of the House of Representatives. He is also the founder of Baze University, established in 2011.

The investigation has revealed that Patrick Ifeanyi Uba, the CEO of Capital Oil and a senator representing Anambra South, owns a villa valued at $1.13 million. Additionally, his wife, Uchenna Uba, has been linked to eight properties, with at least three of them valued at a total of $1.70 million. Specifically, one villa in Wadi Al Safa 7 is worth approximately $1.13 million, while two other properties are each valued at $294,516.

Former Sokoto State governor, Attahiru Bafarawa, has been linked to seven properties valued at a total of $1.48 million.

Additionally, his wife owns a real estate asset located at Palm Jumeirah, worth $750,112.

Meanwhile, former Kaduna State governor, Ahmed Makarfi, has a property valued at $822,016 in the prestigious Burj Khalifa. Furthermore, late former police chief, Tafa Balogun, has been linked to five properties in various locations, including Marsa Dubai, with a combined value exceeding $1 million.

The investigation also revealed that former Police Assistant Inspector-General (AIG), Mbu Joseph Mbu, owns a property abroad. Additionally, three properties have been linked to Amadu Adah Ali, the former Chairman of the Peoples Democratic Party (PDP). Furthermore, a property valued at $422,887 was traced to his daughter, Khadijah Nneamaka Ali, bringing the total number of properties linked to the family to four.

A former governor and senator from Borno State, Maina Ma Aji Lawan, has been linked to eleven properties.

Meanwhile, Ashe Ahmadu Muazu, the wife of a former PDP chairman, owns a property valued at $1.16 million located at Hadaeq Sheikh Mohammed Bin Rashid. Additionally, Christabel Bentu, a former special assistant to Joshua Dariye, a one-time governor of Plateau State, has been traced to one property.

It has been revealed that Isa Mahmoud Nuhu, a senior official of the Nigerian Customs Service (NIS), owns two properties, one of which is valued at $553,802.

Additionally, two properties have been linked to Salisu Abdullahi Yushau, a former senior officer of the Nigerian Air Force.

A luxury flat located in Marsa Dubai, worth $590,807, has been linked to Mohammed Sidi Sani, the former director-general of the National Emergency Management Agency (NEMA), who was dismissed in April 2023 alongside seven other directors of the agency.

The investigation has revealed that Hadiza Ali Sheriff, the wife of a former governor of Borno State, owns a luxury property in Marsa Dubai valued at $3.093 million. Additionally, a real estate asset has been linked to Nenadi Esther Usman, Nigeria’s former finance minister, while another property has been traced to Bobboi Bala Kaigama, the former president of the Trade Union Congress (TUC).

According to the investigation, Senator Ibrahim Folorunsho Jimoh, representing Ondo South, has been linked to seven properties. Additionally, five properties have been traced to Ike Ekweremadu, the former Deputy Senate President, who is currently serving a prison sentence in the United Kingdom.

Furthermore, one property has been linked to Orji Uzor Kalu, the former Governor of Abia State and current senator, while another property has been traced to Jeremiah Useni, the former military governor of old Bendel State.

Other individuals linked to properties include Osita Ben Chidoka, the former aviation minister, who owns a real estate asset estimated at $101,793.37 in Jabal Ali First, and Olisa Metuh, the former PDP spokesman, who has been linked to another property.

It revealed that several prominent Nigerian figures own properties abroad. Among them are: Abdulsalami Alhali Abubakar, a former head of state, who owns a property in Marsa Dubai; Hassan Ardo Tukur, former principal secretary to President Goodluck Jonathan, who owns a property valued at $1.025 million; Adeyemi Sabitun Ikuforiji, former speaker of the Lagos State House of Assembly, who has been linked to a property in Marsa Dubai; and Dan Etete (also known as Dauzia Loya Etete), Nigeria’s former petroleum minister, who owns another property.

The investigation also highlighted concerns about capital flight from Nigeria to Dubai’s real estate market. Analysts suggest that Nigeria should take cues from Dubai to make its real estate industry more attractive to investors, focusing on factors such as quality, location, and regulations.

While the investigation does not provide evidence that the individuals acquired the properties with stolen or public funds, corruption remains a significant concern. The UAE is urged to implement stricter due diligence measures to prevent the acquisition of properties with illicit funds

The Dubai property market continues to outperform other global hotspots, with a growth rate of 20.43 percent in the first quarter of 2024. Foreigners already own around 43 percent of residential properties in Dubai.