A new investigation has linked late Nigerian banking executive, Herbert Wigwe, to the ownership of more than 100 properties in London, placing him among the top foreign real estate holders in the United Kingdom’s capital.
The report, published by The Londoner and titled “Revealed: The billionaires who really own London,” disclosed that Wigwe was connected to 106 properties, ranking him seventh among global billionaires with extensive property portfolios in the city.
According to the publication, the findings were made possible following a recent change in UK law mandating foreign companies to disclose their beneficial owners.
The new regulation has shed light on previously hidden ownership structures tied to high-value properties across London
“We can now reveal that tens of thousands of properties in London are owned by overseas entities,” the report stated.
“This is due to new legal requirements compelling foreign firms to register their real owners, allowing greater transparency in property ownership.”
The investigation identified a total of 32,611 London properties owned through overseas entities. These assets span prime locations, including Oxford Street, Canary Wharf, and the Greenwich Peninsula.
Researchers, working with data compiled by Tax Policy Associates, examined thousands of foreign-owned companies to uncover the individuals behind these investments.
Before his death in February 2024, Wigwe served as the Group Chief Executive Officer of Access Holdings Plc, one of Nigeria’s leading financial institutions. He died in a helicopter crash in the United States alongside members of his family and business associate, Abimbola Ogunbanjo.
The report also highlighted that many of London’s high-value properties are held through companies registered in offshore jurisdictions such as Jersey, where ownership details had historically been opaque.
Analysts say the revelations underscore the scale of foreign investment in London’s real estate market and the growing push for transparency in global property ownership.
“The disclosures provide unprecedented insight into who truly owns some of the city’s most valuable real estate,” the report added.
