A recent investigation has identified 284 properties in the United States, collectively valued at nearly $271 million, linked to 61 current and former high-level Nigerian officials, their families, associates, and affiliated companies. The properties, acquired from 1991 onwards, include 152 worth about $177 million that were purchased while the officials were in office.
The findings were presented in Abuja on Tuesday at the launch of the report, titled “Nigeria: Dirty Deeds — How Top Nigerian Officials Bought a Piece of America.” The investigation examined how wealth linked to Nigerian political and economic elites moved into the US real estate market. It identified recurring risk factors in the acquisition of the properties, including purchases made while officials were in office and transactions without apparent financing.
The report found that 230 of the 284 properties, representing about 81 per cent, were purchased without apparent financing. The properties had a combined value of about $232 million. Additionally, 147 properties worth approximately $111 million were acquired by officials or their spouses in their own names or through legal entities registered in their names.
A further 104 properties, valued at about $140 million, were purchased through companies. In 12 cases, Nigerian officials used US-incorporated entities that appeared to be affiliated with their Nigerian companies to purchase, hold or sell properties. The report also identified professionals involved in some property transactions who allegedly failed to verify identity documents or accepted transactions conducted in the names of deceased individuals.
According to the report, 39 of the 61 individuals examined have been publicly accused, indicted or sentenced for corruption. Among the 39 individuals named are Sambo Dasuki, a former National Security Adviser, and Orji Kalu, a former governor of Abia State and now a senator. The politically exposed persons were linked to 232 properties valued at approximately $238 million.
The report said the significance of the findings was not only who acquired the properties, but also when and how they were acquired. “In numerous cases, substantial real estate was acquired while officials held public office, at precisely the moment when their access to state resources and influence was greatest,” the report said. The investigation found that 94 properties, worth approximately $135 million, were acquired without an apparent source of financing while the officials were still in office.
PPLAAF Executive Director, Jimmy Kande, said the findings showed how public wealth could move from Nigerian institutions and sectors exposed to corruption risks into foreign real estate. “The purchases, transfers, and sales documented here could amount to international money laundering and must be investigated as such. Nigerian and American authorities must work together to ensure these assets are returned to the people they were taken from.”
Key points
- The report identified 284 US properties valued at nearly $271 million linked to 61 current and former high-level Nigerian officials.
- 39 of the 61 individuals examined have been publicly accused, indicted or sentenced for corruption.
- The investigation found that 230 properties, worth about $232 million, were purchased without apparent financing.
