Manny Ita –
A recent investigation has revealed that the late Nigerian banking executive, Herbert Wigwe, was linked to 106 properties in London, placing him seventh among billionaires with the largest real estate holdings in the city.
The report, published by The Londoner and titled “Revealed: The billionaires who really own London,” identified a total of 32,611 properties across London owned by overseas entities. This disclosure followed a change in UK law mandating foreign companies to reveal their beneficial owners.
With access to newly available data, researchers were able to uncover the individuals behind previously concealed property ownership structures, including assets located in some of London’s most prominent commercial and residential areas.
“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.
We’ve spent the last week, using data compiled and shared with us by Dan Neidle of Tax Policy Associates, to go through thousands of those overseas entities to see who has bought up properties in the capital,” the report stated.
The properties identified in the investigation span notable locations such as Oxford Street, Canary Wharf, and the Greenwich Peninsula.
Wigwe, who served as Group Chief Executive Officer of Access Holdings Plc before his death, was listed among the top property owners. He died in a helicopter crash in the United States in February 2024 alongside his wife, son, and business associate Abimbola Ogunbanjo.
Following his passing, legal disputes have emerged surrounding his estate.
The findings also highlighted the widespread use of offshore jurisdictions like Jersey for holding high-value London properties, which historically obscured ownership details. With the recent legal changes, these structures are now being exposed, offering deeper insight into the extent of foreign investment in London’s real estate market and the individuals behind it.
