

An investigation by Business Day has revealed a staggering surge in investments by politically exposed personalities (PEPs) from Nigeria in Dubai’s real estate sector. Over the past four years, their holdings have doubled to a total value of $1.49 trillion, according to findings from ‘Dubai Unlocked’, a comprehensive probe into the UAE’s lucrative yet secretive property market.
Led by the Organized Crime and Corruption Reporting Project (OCCRP), in collaboration with over 70 media partners including Economy Post, the investigation unearthed a sharp rise in property acquisitions by Nigerian PEPs. In 2020, these figures stood at 800 properties valued at $400 million. By 2024, the number had surged to 1,600 properties valued at nearly $1 billion.
Dubai Land Department data highlighted Nigerians as the second largest foreign investors in Dubai’s property market, after India. The properties were predominantly located in upscale areas such as Burj Khalifa, Palm Jumeirah, and Al Merkadh, among others.
Notable individuals named in the investigation include:
ATIKU’S 23-YEAR-OLD DAUGHTER
A one-bedroom flat at Trade Centre Second, valued at $104,135.
A two-bedroom flat at Hadaeq Sheikh Mohammed Bin Rashid estimated at $289,305.75.
NASIR EL-RUFAI
A four-bedroom flat valued at $193,084 at Al Hebiah Third.
YUSUF DATTI BABA-AHMED
Eight properties valued at $2.28 million in locations such as Burj Khalifa, Al Yelayiss, Al Barsha South Fourth, and Town Square Safi 2.
IFEANYI UBAH
A property valued at $1.13 million. Additionally, eight properties linked to Uchenna Uba, his wife, with specific values not provided.
ATTAHIRU BAFARAWA
7 properties valued at $1.48 million.
A property at Palm Jumeirah valued at $750,112, belongs to his wife.
AHMED MARKAF
A property at Burj Khalifa valued at $822,016.
TAFA BALOGUN
Linked to properties in various locations including Marsa Dubai, with values exceeding $1 million.
MBU JOSEPH
A property traced to the former Assistant Inspector-General of Police (AIG).
AHMADU ALI
A property linked to the former Peoples Democratic Party (PDP) chairman, with another property valued at $422,887 linked to his daughter, Khadijah Nneamaka Ali.
MAINA AJI LAWAN
11 properties traced to the former Borno State governor and senator.
ASHE AHMADU MUAZU
Wife of a former PDP chairman, owns a property located at Hadaeq Sheikh Mohammed Bin Rashid, valued at $1.16 million.
CHRISTABEL BENTU
Linked to a property; details not specified.
ISA MAHMOUD NUHU
Two properties, one estimated at $553,802.
SALISU ABDULLAHI YUSHAU
Two properties; details not specified.
MOHAMMED SIDI SANI
A flat at Marsa Dubai valued at $590,807.
HADIZA ALI SHERIFF
A Marsa Dubai property valued at $3.093 million.
NENADI USMAN
Linked to one real estate property; details not specified.
BOBBOI KAIGAMA
A property traced to this Labour leader, former Trade Union Congress (TUC) president.
JIMOH IBRAHIM
7 properties linked to the senator representing Ondo South.
IKE EKWEREMADU
Five properties; details not specified.
ORJI UZOR KALU
One property traced to the former Abia State governor, now a senator.
JEREMIAH USENI
One property; details not specified.
OSITA CHIDOKA
A real estate estimated at $101,793.37 at Jabal Ali First.
OLISA METUH
Linked to another real estate asset.
ABDULSALAMI ABUBAKAR
A property at Marsa Dubai.
HASSAN ARDO TUKUR
A property valued at $1.025 million.
ADEYEMI IKUFORIJI
A property at Marsa Dubai.
DAN ETETE
Linked to another property.
Others mentioned include Lateef Fagbemi, Atiku Abubakar, and several former government officials and family members. The investigation also noted discrepancies in property registrants’ identities, with some listed as different genders.
The report stressed that these revelations do not necessarily imply wrongdoing or misuse of public funds by the named individuals. It underscores the scale and complexity of foreign property investments by Nigerian PEPs, sparking calls for greater transparency and scrutiny in wealth declarations and asset acquisitions.
