A recent investigation by UK-based outlet The Londoner has found that late Nigerian banking executive, Herbert Wigwe, was associated with 106 properties in London, positioning him among the city’s leading foreign investors in real estate.
The report is based on newly available transparency records which show that the properties were owned through offshore entities—a widely used global practice where assets are held by companies registered outside the country of purchase.
The findings follow recent reforms introduced by the UK government mandating foreign property owners to disclose their beneficial ownership in a bid to enhance transparency in the real estate sector.
According to the investigation, Wigwe ranked among the top 10 overseas owners of property in London, reflecting the scale of his investment footprint beyond his tenure as former Group CEO of Access Holdings Plc.
The probe forms part of a broader review into foreign-owned properties in London, which identified more than 32,000 homes held through offshore structures. Many of these companies are registered in jurisdictions known for financial secrecy, including Jersey.
Experts, however, note that while offshore ownership can raise concerns about transparency and taxation, there is no evidence suggesting any wrongdoing in Wigwe’s case. Such arrangements are commonly used by wealthy individuals and global investors for asset management, estate planning, and tax efficiency.
The revelation further highlights Wigwe’s extensive global investments, adding depth to his legacy as one of Africa’s most influential figures in banking and finance.
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