It has been exposed by Premium Times that a former Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Abubakar Lawal Yar’Adua bought a swish home worth £890,000 in London, using a secret offshore bogus company he registered in the British Virgin Island.
Leaked Panama Papers show the offshore company to be Hydrocarbon Assets Investments Limited. Yar’Adua bought the house in 2008, while he was Group Managing Director of the NNPC. He had assumed office as NNPC GMD in August 2007 and was removed months later January 2009.
According to the report, eight months after he became the GMD of NNPC he used a London residence address at Beechwood Hall, Regents Park Road, London N3 3AT to register the said offshore company.
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