Late Nigerian Banker Herbert Wigwe Ranks Seventh in London Property Ownership

A recent investigation has named Herbert Wigwe, the late Nigerian banker, as the seventh-largest billionaire property holder in London, with ties to 106 properties across the British capital. The findings were published by The Londoner following a change in UK law that now requires foreign entities to disclose their beneficial owners.

The report, titled Revealed: The billionaires who really own London, identified 32,611 overseas-owned properties across the city. According to the publication, the new disclosure rules have made it possible to connect previously hidden owners to prime real estate, including properties on Oxford Street, Canary Wharf, and the Greenwich Peninsula.

To compile the data, The Londoner worked with Dan Neidle of Tax Policy Associates, reviewing thousands of overseas entities now registered in public records. The investigation showed that many high-value buildings in London are owned through companies based in jurisdictions such as Jersey, where ownership details were previously opaque.

Wigwe, who died in a helicopter crash in the United States in February 2024, was the Group Chief Executive Officer of Access Holdings Plc, one of Nigeria’s largest financial institutions. His wife, son, and former NGX Group chairman Abimbola Ogunbanjo also died in the crash. Since his passing, Wigwe’s family has been involved in litigation over his estate.

The investigation underscores the scale of foreign investment in London’s property market, with ownership structures now more transparent due to the recent legal changes.