*As New Transparency Laws Expose Hidden Ownership
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Late Nigerian banker Herbert Onyewumbu Wigwe has been linked to 106 properties in London, ranking him seventh among billionaire foreign real estate owners in the British capital, according to a major investigation published by The Londoner.
The report, titled Revealed: The Billionaires Who Really Own London, identified 32,611 properties across London owned by overseas entities following a 2022 UK legal reform that compelled foreign companies to disclose their beneficial owners.
Wigwe, who served as Group Chief Executive Officer of Access Holdings Plc before his death in February 2024, was found to hold properties in prime London locations including Oxford Street, Canary Wharf, and Greenwich Peninsula.
The Londoner said it spent a week analysing data compiled by Dan Neidle of Tax Policy Associates, which was drawn from newly released ownership disclosures submitted by foreign entities.
“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,” the report stated.
“What we found was startling: a story that concerns some of London’s most iconic pubs, Camden market, President Trump’s golf buddy, and even an Oxford Street Harry Potter store whose landlord is seemingly the sanctioned Libyan government.”
The investigation noted that the properties linked to Wigwe were held through offshore structures that had previously concealed ownership details.
The report revealed that 2,224 of London’s most expensive properties are registered to companies based in St Helier, Jersey — a jurisdiction where company owners were historically permitted to remain anonymous.
Foreign billionaires had leveraged this anonymity to acquire tens to hundreds of properties in the UK without public disclosure.
This changed in 2022 when the UK government introduced reforms requiring foreign property owners and entities to disclose their identities in a public register, lifting the veil on a system long used by wealthy individuals to conceal assets.
The Rankings
According to The Londoner’s findings, Wigwe ranked seventh among the top foreign property holders in London:
- John Corless — 246 properties
- Sarah Bard — 130 properties
- Simon Reuben — 129 properties
- Alexander Bard — 122 properties
- Rit Thirakomen (Thai billionaire) — 120 properties
- Wolfgang Peter Egger
- Herbert Wigwe — 106 properties
The list also includes members of the Saudi royal family and other prominent international investors.
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.
Under his leadership, Access Bank grew to become one of Nigeria’s largest financial institutions, with operations across multiple African countries.
Wigwe died on February 9, 2024, in a helicopter crash in California near the Nevada border. His wife, son, and Abimbola Ogunbanjo, former Group Chairman of Nigerian Exchange Group Plc, also perished in the crash. All six passengers on board were confirmed dead.
A final report by the US National Transportation Safety Board attributed the crash to the pilot’s decision to continue flying under visual flight rules into adverse weather conditions.
Since Wigwe’s death, his estate has been at the centre of legal disputes, with family members contesting court rulings over the distribution of his assets.
The revelation of 106 London properties adds significant complexity to ongoing litigation, as the full extent of his international holdings becomes clearer.
The investigation shows the scale of foreign investment in London’s real estate market and the extent to which wealthy individuals from around the world — including prominent Nigerians — have acquired significant property portfolios in the British capital.
For Nigeria, the findings raise questions about capital flows and the investment patterns of the country’s business elite, particularly in offshore jurisdictions that have historically offered anonymity.
The Londoner’s report noted that the database now makes it possible to trace ownership of several high-value properties that had previously been hidden behind corporate structures — a development that could have implications for tax authorities, regulators, and estate administrators worldwide.
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