The source of Bola Tinubu's tremendous wealth, according to his most recent iteration of his tall tales about how he amassed the billions of dollars he is rumored to be sitting on, is real estate inheritance.
The All Progressives Congress presidential candidate for 2023 claimed that he inherited a sizable real estate that grew even bigger as a result of wise investing decisions, in contrast to earlier interviews where he mentioned bonuses from profits as a mid-level official at Deloitte.
In the past, Mr. Tinubu has asserted that his retirement expenses from his position as senior treasurer at the oil company Mobil in the late 1980s led to his fortune.
However, the former governor of Lagos claimed in an interview with the BBC that went live online on Wednesday that he received a sizable estate upon which he created an investment portfolio. Who left the money, he did not reveal. The identity of Mr. Tinubu's father is unknown, and his foster mother, Abibatu Mogaji, passed away in July 2013 in a modest home that Mr. Tinubu had given her after he was elected governor in 1999.
“I inherited fantastic property. I reversed the value. In the interview that was published on the BBC Africa Facebook page, Mr. Tinubu stated, “I'm not denying my riches.
The 70-year-old Mr. Tinubu attacked his detractors as “enemies of money” for questioning how he was planning to create a multibillion-dollar empire while having no experience as an entrepreneur or corporate executive.
“Are they against money? Investments do pay off if they are not hostile to wealth, according to Mr. Tinubu.
Anti-graft organizations have been reluctant to investigate the controversial presidential candidate's finances out of concern for political repercussions from a man close to the government of incumbent President Muhammadu Buhari. The candidate has been the target of corruption allegations from Nigerians.
A number of financial records revealed in the Peoples Gazette in 2020 how Mr. Tinubu was stealing to profit himself through dubious tax administration in Lagos.
The newspaper also revealed how Mr. Tinubu diverted billions to shell companies and his well-known ventures, including TVC and the Lagos rapid transit plans, through tax consultants Alpha Beta.
Recently, news of Mr. Tinubu's connections to drug trafficking organizations from the 1990s made headlines throughout Nigeria. The politician has persisted in denying all wrongdoing, including allegations of drug use and treasury thievery in Lagos.
For the presidency of the most populous nation in Africa, Mr. Tinubu will compete against former vice president Atiku Abubakar of the Peoples Democratic Party, presidential front-runner Peter Obi of the Labour Party, Omoyele Sowore of the African Action Congress, and Rabiu Kwankwaso of the NNPP.