Londoner investigation reveals Herbert Wigwe owned 106 London properties through offshore entities, placing him among top foreign real estate investors.

A major investigation into offshore property ownership in London has linked the late Herbert Wigwe to 106 properties in the UK capital, placing him among the most prominent foreign investors in the city’s real estate market, according to a report by The Londoner.

The report, titled “Revealed: The billionaires who really own London”, uncovers the true owners behind 32,000 properties held by overseas entities, following a recent law compelling foreign companies to disclose their beneficial owners.

According to the findings, Wigwe, the former Group Chief Executive Officer of Access Holdings Plc, ranked seventh among identified billionaire property owners, with his holdings traced through offshore structures.

Investigators said the breakthrough came after regulatory changes forced companies registered in secrecy jurisdictions to declare ownership, lifting the veil on a system long used by wealthy individuals to conceal assets.

The report further revealed that 2,224 of London’s most expensive properties are registered to companies based in St Helier, Jersey, a known tax haven highlighting how shell firms have been used to hold prime assets across the capital.

Wigwe’s inclusion places him alongside a global network of billionaires, investors, and institutions that have quietly amassed significant stakes in London’s high-value real estate, often through layered corporate structures designed to limit transparency.

The revelations add a new dimension to Wigwe’s legacy as one of Africa’s most influential banking figures, showing the scale of his international investment footprint beyond the financial sector.

Wigwe died on February 9, 2024, in a helicopter crash in California near the Nevada border, alongside his wife, son, and Abimbola Ogunbanjo, former Group Chairman of Nigerian Exchange Group Plc. All six passengers on board were confirmed dead.

A final report by the National Transportation Safety Board attributed the crash to the pilot’s decision to continue flying under visual flight rules into adverse weather conditions.

Since his death, Wigwe’s estate has been at the centre of legal disputes, with family members contesting court rulings over the distribution of his assets.

Faridah Abdulkadiri. (AriseNews TV, but headline rejigged)

• Late Herbert Wigwe