The UK’s Guardian newspaper has revealed how a former Minister for Science and Technology, Ebitimi Banigo is the owner of a £2.7m flat in “the Tower, a 50-storey apartment complex in London”. Most of the apartments “are in foreign ownership, with a quarter held through secretive offshore companies based in tax havens, a Guardian investigation has revealed”.
Banigo is the King of Okpoama in Bayelsa State and a former chairman of All States Trust Bank. He allegedly betrayed the trust of depositors in the bank, looting billions of Naira to bankruptcy.
The Guardian claimed: “Lower down is a £2.7m flat owned by Ebitimi Banigo, a former Nigerian government minister. In 2012, Banigo was crowned king of Okpoama, in the oil-rich Niger delta, at a ceremony attended by the then president, Goodluck Jonathan. In 2005, he was investigated by Nigeria’s Economic and Financial Crimes Commission following the collapse of the All States Trust Bank he chaired. He was later named in the Nigerian senate for owing the bank 15bn naira (£50m). He was not charged with any offence”.