The late Nigerian banking magnate Herbert Wigwe has been identified as the owner of more than 100 properties in London, ranking him among the top ten overseas billionaire landowners in the British capital.

An investigation by The Londoner has revealed that Mr. Wigwe, the former CEO of Access Holdings, held a portfolio of 106 properties. The disclosure comes following a landmark change in UK law which now requires foreign entities to declare their “beneficial owners”—effectively pulling back the curtain on billions of pounds of previously anonymous real estate.

Mr. Wigwe died in a helicopter crash in California in February 2024, alongside his wife, son, and the former chairman of the Nigerian Exchange Group, Abimbola Ogunbanjo.

The ‘Hidden’ London

The investigation, titled The Billionaires Who Really Own London, uncovered a staggering 32,611 properties across the city owned by overseas entities. For years, these assets were shielded by opaque ownership structures, often based in offshore tax havens like Jersey and the British Virgin Islands.

Using data compiled by Tax Policy Associates, researchers connected these foreign companies to some of London’s most iconic locations, including:

• Oxford Street: The heart of the city’s retail district.
• Canary Wharf: The high-rise financial hub.
• Greenwich Peninsula: A major residential and commercial redevelopment zone.

Mr. Wigwe was ranked seventh on the list of individual billionaires with the largest property holdings in the city.

A legacy under scrutiny

At the time of his death, Mr. Wigwe was one of Africa’s most influential financial figures, having transformed Access Bank into a continent-wide banking powerhouse. However, since his passing, his vast estate has become the subject of complex legal disputes involving his family.

The revelation of his London portfolio adds a new dimension to his professional legacy. While international investment in London property is a long-standing trend, the scale of Mr. Wigwe’s holdings—revealed only after his death—highlights the sheer volume of Nigerian capital flowing into the UK’s “prime” real estate market.

Analysis: The end of anonymity?

For decades, London has been a “safe haven” for the world’s ultra-wealthy to park their cash, often with total anonymity.

This new disclosure marks a turning point for the UK’s Register of Overseas Entities. Transparency campaigners say the data proves that “dirty” and “clean” money alike have used the same secretive channels to buy up the capital.

For Nigeria, where the government is increasingly focused on tracking “capital flight” and improving domestic investment, the news that one of its most prominent citizens held such a vast portion of London’s skyline is likely to reignite debates over the movement of wealth from the Global South to Western capitals.