Tuesday, November 28, 2023


Kola Aluko’s New York penthouse up for ‘just $39m’ 

Kola Aluko’s New York penthouse up for ‘just $39m’ 
September 21
12:52 2017

A penthouse valued at $51.9 million, belonging to Kolawole Aluko, Nigerian oil mogul based in the US, is currently up for sale for a “motivated” price of $39 million.

The property is believed to be part of the proceeds of “shady” oil contracts also involving Diezani Alison-Madueke, a former minister of petroleum resources, and Jide Omokore, another businessman.

TheCable had obtained copies of the controversial contracts involving the trio who allegedly ripped off Nigeria by billions of dollars between 2011 and 2015.

The trio, who are on the radar of the US department of justice for alleged money laundering, risk the forfeiture of at least $144m worth of assets regarded as proceeds of crime.


The Nigerian authorities, through the Economic and Financial Crimes Commission (EFCC), have seized some of their assets.

Aluko was said to have bought the luxurious apartment — seen as the most expensive foreclosure in New York City — for $51.9million in 2014.

He was, however, forced to obtain a $35.5million mortgage facility from Luxembourg bank to pay for the apartment.


Court documents showed his failure to pay back the loan a year later led to the bank taking possession of the 6,420-square-foot apartment.

“The home was in foreclosure, but it is now being sold by a third party as an alternative to foreclosure,” a source close to the property told New York Post, adding that Aluko “has nothing to do” with the sale.

He is yet to officially react to the fraud allegations as he is said to be evading arrest since the US department of justice initiated proceedings on the alleged crimes.

Court documents had detailed how Aluko and Omokore gave out huge amounts of money, mostly in foreign currencies, to their cronies.


While some of the numerous property they bought with dividends from the “shady” contracts are located in Nigeria, most of them are in various countries abroad, especially in the US and London.

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