MORE Nigerian politicians have recently acquired properties in choice locations in Dubai, the United Arab Emirates, according to sources in the city’s property market.
The sources told Economy Post that Nigerian politicians have recently been acquiring Dubai properties in areas such as Marsa Dubai, Al Merkadh, Palm Jumeirah and other choice locations.
“Currently, we have seen politicians from Africa, particularly those from Nigeria, Uganda and South Africa, buying properties worth millions of dollars here. Some of them buy these poperties through cronies, relatives and friends,” said a Dubai-based real estate expert, Mr Mohamed Abdullah.
Though he did not mention names, he noted that the “Dubai real estate industry does not reject anybody from anywhere as long as you have the money to spend.”
Another source, who chose to remain anonymous, said three Nigerian politicians recently acquired properties worth over $700 million in Dubai. When pressed for names, the source declined, citing ‘security reasons.’
Dubai authorities are often criticised for allowing politically exposed persons to acquire choice real estates from its market without care for due diligence.
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A recent project named ‘Dubai Unlocked,’ a six-month investiingation into the United Arab Emirates (UAE)’s booming and secretive property market led by the Organized Crime and Corruption Reporting Project (OCCRP) together with more than 70 media partners, including Economy Post, which was the only Nigerian newspaper that participated in the project, showed that more than 200 Nigerians – politicians and security officers – own properties in Dubai.
C4ADS, a partner in the project, said the Dubai property market was a key haven for international kleptocrats, transnational organised crime, and a vast array of other illicit actors — from narcotics traffickers to Russian oligarchs.
Dubai Land Department and DXBinteract estimated that Dubai’s real estate market hit the highest-ever quarterly transaction volume in the third quarter (Q3) of 2025, with 59,228 property sales valued at $46.5 billion, marking year-over-year increases of 17.2 percent in volume and 19.9 percent in value, Reuters reported.
Nigerians own properties worth well over $1.5 billion dollars in Dubai, with over 200 politicians , security agents and civil servants possessing real estate valued at nearly $1 billion, Economy Post found.
Nigerian politicians own huge properties
Nigeria’s former Vice President, Mr Atiku Abubakar, owns a three-bedroom flat estimated at $1.23 million at Palm Tower in Dubai. His daughter, Hadiza, is also linked with a one-bedroom flat at Trade Centre Second, valued at $104,135. The 23-year-old Atiku’s daughter also owns a two-bedroom flat at Hadaeq Sheikh Mohammed Bin Rashid estimated at $289,305.75.
READ ALSO: Former NEMA boss sacked for corruption owns $591,000 property in Dubai
Nigeria’s Attorney General and Justice Minister, Mr Lateef Olasunkanmi Fagbemi, is linked with an $85,846 property at Al Hebiah Third, which he acquired before his appointment.
Seven properties valued at $1.48 million are linked to former Sokoto State Governor, Mr Attahiru Bafarawa, while another real estate asset, located at Palm Jumeirah and valued at $750,112, is associated with his wife.
Nigeria’s former Inspector-General of Police (IGP), Mustapha Adebayo Balogun, died on August 4, 2022, but his eight properties in Dubai are still alive. Mr Balogun’s eight properties at Marsa Dubai and Lake City are estimated at $1.4 million, according to Economy Post’s calculations.
One property was traced to Ms Christabel Bentu, a politician and former Special Assistant to one-time Governor of Plateau State, Mr Joshua Dariye. A flat at Marsa Dubai, valued at $590,807, was traced to Mohammed Sidi Sani, former director-general of the National Emergency Management Agency (NEMA), who was sacked in April 2023 with seven of the agency’s directors for corruption. The property is valued at $590,807.
A property is linked to a former police Assistant Inspector-General (AIG), Mr Mbu Joseph Mbu. Three properties are linked with former Peoples Democratic Party (PDP) Chairman, Mr Amadu Adah Ali,while one valued at $422,887 was traced to his daughter, Ms Khadijah Nneamaka Ali.
A real estate is linked to Nigeria’s former Finance Minister, Ms Nenadi Esther Usman, while another property was traced to former Trade Union Congress (TUC) President, Mr Bobboi Bala Kaigama.
Five properties are linked to former Deputy Senate President, Mr Ike Ekweremadu, who is serving a jail term in the United Kingdom. A property at Marsa Dubai was traced to former Speaker of the Lagos State House of Assembly, Mr Adeyemi Sabitun Ikuforiji. Another property is owned by Nigeria’s former Petroleum Minister, Mr Dan Etete (Dauzia Loya Etete).
It must be stated that this is, by no means, an indictment on the individuals named, as there is yet no evidence that the individuals acquired the properties with stolen or public funds.
Nigeria and the world
The Carnegie Endowment for International Peace said in 2020 that the 800 Dubai properties linked to Nigerian politically exposed persons at that time were estimated to be worth well over $400 million. This was, equal to roughly two-thirds of the Nigerian Army’s annual budget and over three times the annual budget of the country’s Independent National Electoral Commission.
“Dubai property ownership is an indicator—not definitive proof—that a particular politically exposed Nigerian possesses unexplained wealth. Although many PEPs’ property purchases exceed what their official salaries should permit, some politically exposed Nigerians have complicated personal financial portfolios combining marital and family assets, business holdings, charitable foundations, and other offshore wealth. Only Nigerian law enforcement agencies, working with their Emirati and international counterparts, can determine conclusively whether an individual’s property was purchased with the proceeds of corruption,” it noted.
“For Nigeria’s corrupt political elites, Dubai is the perfect place to stash their ill-gotten gains and enjoy luxury real estate worth millions. But unless authorities stop turning a blind eye, the long-term costs to Nigeria’s economy and Dubai’s reputation could be high.”
