Access Bank keeps mum as MD reportedly buys N30bn London mansions

Bloomberg reported on Wednesday that the property, valued at approximately ₦30 billion (£15 million or $20 million), marked a significant transaction in the city’s high-end housing market.The report said Ogbonna, who has been the boss of the bank for over three years, purchased the mansion in August, according to a UK filing.

Newstellers reached out to the spokesperson of the bank, Kunle Aderinokun, on the report, but he did not take calls made to his mobile phones. He did not also respond to a WhatsApp message sent to him seeking clarification on the report.

The sprawling property boasts a spa and an entertainment suite, and was previously listed for £17 million in 2021, according to London’s City AM newspaper. Despite requests for comment, Bloomberg reports that Ogbonna’s representative ignored the report.

This high-end deal is one of the most expensive in London this summer, defying the slump in the luxury housing market.

The market has been affected by increased stamp duty and the abolition of a preferential tax status for ultra-rich foreign residents.

Nevertheless, several mega-deals have taken place this year, including purchases by wealthy foreigners.

As the CEO of Access Bank Plc, Ogbonna leads Nigeria’s largest bank by assets, with operations in 24 countries and over 63 million customers across three continents.

The bank is on an ambitious five-year growth plan, aiming to double its share of assets outside Nigeria by 2027.

The banker resigned as a non-executive director of the lender’s parent company, Access Holdings Plc, in August, but remains CEO of the bank.