*Investigations target London’s most prominent locations including Oxford Street, Canary Wharf, and the Greenwich Peninsula, underscoring the scale of foreign investment in the city’s high-value real estate market
*After Wigwe died in a helicopter crash in the United States, members of his family have been involved in legal disputes over his estate
*“We can now reveal that some 32,611 properties in London are owned by overseas entities. We did this because a recent change in the law in Britain is forcing these foreign companies to register their real owners. We’ve spent the last week to go through thousands of those overseas entities to see who has bought up properties in the capital”-The LONDONER
*BY REWANA HARIT GYUNS/Correspondent, London, Naija Standard Newspaper Inc USA
THERE is famous saying “may the dead rest in peace”. But what becomes of a person who died two years ago in a plane crash in the United States, yet the British Government documentation has revealed that even in death, the late Nigerian billionaire banker, Herbert Wigwe, has been allegedly linked to the ownership of 106 properties in London, ranking him seventh among billionaires holding extensive real-estate portfolios in the capital, according to a new investigation by The Londoner. Also, his family members are at daggers drawn, in topsy-turvy to take over his various properties around the world. The question on the lips of many: “is he resting in peace”?
The report, titled Revealed: The Billionaires Who Really Own London, identified 32,611 properties across the city owned by overseas entities.
The findings were made possible following recent changes in UK law requiring foreign companies to disclose their beneficial owners, PUNCH reports.
Using newly available data compiled by Tax Policy Associates and shared by its head, Dan Neidle, researchers analyzed thousands of overseas entities to determine who ultimately controls significant real estate assets in London.
“But now, The Londoner can reveal that some 32,611 properties in London are owned by overseas entities. We can do this because a recent change in the law is forcing these foreign companies to register their real owners,” the publication said. “We’ve spent the last week… to go through thousands of those overseas entities to see who has bought up properties in the capital.”
The properties identified span some of London’s most prominent locations, including Oxford Street, Canary Wharf, and the Greenwich Peninsula, underscoring the scale of foreign investment in the city’s high-value real estate market.
Wigwe, who died in a helicopter crash in the United States in February 2024 alongside his wife, son, and former NGX Group chairman Abimbola Ogunbanjo, served as Group Chief Executive Officer of Access Holdings Plc prior to his death.
Since then, members of his family have been involved in legal disputes over his estate.
According to the investigation, many of London’s most expensive properties are owned through companies registered in jurisdictions such as Jersey, where ownership structures were previously difficult to trace.
The newly released disclosures allowed researchers to connect these entities to individual beneficial owners for the first time.
The report also identified several other wealthy individuals and corporate entities holding large portfolios in London through offshore companies, highlighting the continued influence of foreign capital in shaping the city’s property landscape.
DONATE TO HELP BUILD A SPECIAL APPS FOR JOURNALISTS AGAINST LIVER ELEVATION & KIDNEY FAILURE:
CERTAINLY, Good journalism costs a lot of money. Without doubt, only good journalism can ensure the possibility of a good society, an accountable democracy, and a transparent government. We are ready to hold every corrupt government accountable to the citizens. To continually enjoy free access to the best investigative journalism in Nigeria, we are requesting of you to consider making a modest support to this noble endeavor.”
By contributing to NAIJA STANDARD NEWSPAPER, you are helping to sustain a journalism of relevance and ensuring it remains free and available to all without fear or favor.
Your donation is voluntary — please decide how much and how often you want to give.
FOR OFFLINE OR ANONYMOUS DONATION ON THIS PROJECT OR HELP COVER COST FOR SERIES OF UNDERCOVER REPORTING IN INVESTIGATIVE JOURNALISM, DO PAY DIRECTLY FROM ANYWHERE IN THE WORLD TO: NIGERIA BANK NAME-MONIEPOINT *BANK ACCOUNT NUMBER: 7076577445
Feel free to send us an email: letters@nigeriastandardnewspaper.com or call us directly at +2347076577445 (Nigeria) or WhatsApp American Roaming Mobile Number: +16825834890 (Chat messages only available)
donation
