Bola Ahmed Adekunle Tinubu, the Jagaban of Borgu, has a remarkable narrative of perseverance, determination, and tenacity. As Lagos State’s twelfth governor, Babatunde Fashola has left a political legacy that doesn’t appear to be in danger of being wiped any time soon.

 

Tinubu was born into a prestigious and illustrious family. As the Iyaloja of Lagos State for many years, his mother, Abibatu Mogaji, also held the position of Nigerian Association of Market Men and Women President for a short time. In spite of his mother’s numerous triumphs, Bola Tinubu opted to construct a new identity for himself even in a new country, and he did it even in the shadow of his mother’s success. He went to great lengths to acquire the Golden Fleece, so it was no surprise that he was able to receive academic honors at the end of his academic career.

Tinubu’s Political Career

Nine years after his return to Nigeria, Asiwaju Tinubu entered the political arena. The Lagos West Federal Constituency was his seat in the Senate when he was elected in 1992. However, the rule only lasted a few months until it was overthrown by a military coup. On hearing of the new developments in Nigeria, Tinubu and other well-meaning Nigerians joined the National Democratic Coalition (NADECO), a group created to strengthen democracy and fight for a formal acknowledgment of the disputed June 12th, 1993 elections.

When democracy was restored in 1998, he campaigned for governor of Lagos state in 1993 under the A.D. banner and won the election. His first term ended in April 2003, and he ran for re-election and was re-elected. He served as governor until 2007 when he turned over the reins to a successor whom he had chosen himself. Asiwaju’s riches have been brought into doubt because of his spectacular political career, particularly because it is the norm in Nigeria and Africa for politicians to be guilty of corrupt acts and converting/diverting public property and monies to their own use. Asiwaju, on the other hand, has passionately rejected all of these charges, making it impossible to pin him down to a single instance of corruption or fraud. There can be no doubt that any supposition is motivated by scorn, malice, or sheer political hate. Whatever the case may be, the fact remains that Jagaban is extremely well-off. As a result of this investigation, the sources of his money and the methods he used to get them will be discussed.

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What Tinubu has to Say About his Wealth

If you ask Asiwaju about his riches on his 64th birthday, he has a simple answer: “I opted to travel more than 80 percent of my working years there at Deloitte & Touche. The reason behind this is that employees who choose to travel are compensated for their time and expenses. He also said that a joint venture between National Oil and Aramco in Saudi Arabia will lead to his financial breakthrough in the near future.

 

Here’s how he put it:

 

In order to set up their accounting and auditing system, we traveled to their location. My financial breakthrough came as a result of using that particular service. An unexpected windfall made me a billionaire the first day I returned to the United States. Before taxes, the bonus was $850,000. My wages were deposited into a bank account, and I had no intention of withdrawing them. At the time, my bank account held around $1.8 million in salary contributions.

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Tinubu’s Investments

Tinubu claims he made a fortune in the United States before moving to Nigeria, and that he put the money to good use.

 

The number of properties Asiwaju has in Nigeria, however, calls into doubt this claim’s veracity. Tinubu is said to be the proprietor of Oando Oil Company, one of Africa’s major oil projects. Wale Tinubu, Bola Tinubu’s nephew, oversees the day-to-day operations of this business. The Oriental Hotel, located on Admiralty Way in Victoria Island, Lagos, has also been said to belong to Tinubu. The presidential suite here costs approximately 400,000 nairas a night, while the smallest rooms cost about 60,000 nairas. This hotel is reputedly valued at over 120 billion nairas, making it one of the most costly in Nigeria. Tinubu is also claimed to own the recreation center in Oniru, which is worth billions of naira, together with ARM and Tunji Olowofe.

 

One of the most prominent radio and television stations in Lagos, Radio and Television Continental, is reported to be owned by Tinubu. Bombardier Global Express XRS apparently valued at 60 million dollars is one of two expensive and exquisite private planes owned by him that he is happy to call his own. An exiled former president of a West African country flew in style aboard this plane. It is estimated that Asiwaju owns 157 hectares of premium land with 2.5 kilometers of Atlantic shoreline, worth 10 billion nairas.

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Lagos state’s guest home annex in Asokoro, Abuja, which was bought by the state government in 2006 and paid 450 million nairas for in equal shares belongs to him, too. Also owned by him is an additional five-bedroom semi-detached home worth an estimated $450 million in Lagos’ Parkview Ikoyi Estate waterfront reclamation project.

Recap

Even though there is no proof to prove that the Jagaban is guilty of fraud, diversion, or corruption, it is fair to conclude that his money derives from his political godfatherism because of the high cost and value of unidentified properties owned by the Jagaban. As long as Jagaban endorses someone for political office, it’s practically inevitable that they’ll get elected. Many people will not be surprised if these hopefuls pay the jagaban before and after he endorses them. Besides this, Bola Ahmed Tinubu is a household name in Nigeria’s political circles. It is possible that a large number of government contracts will be awarded to jagaban’s or his loyalists’ businesses as a result of this. Therefore, it is reasonable to assume that Jagaban’s primary source of income comes from politics.