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Bloomberg's latest report has revealed that former Minister of Defence, Lt.Gen Theophilus Danjuma is worth $1.2bn (N432bn), in what appears to be the first time his financial base has ever been mentioned publicly.
Danjuma retired from the Nigerian Army in 1979. He reportedly made his wealth from oil block awarded to him in 1998 by the former Nigerian dictator leader and fellow army officer, Sani Abacha, making him one of a handful of Nigerians made stupendously wealthy from the country’s energy reserves.
Danjuma was listed in the Panama Papers in 2017 as one of the prominent Nigerians who operated foreign accounts and had foreign companies while holding public office.
The retired general was also among global personalities found to maintain secret accounts, operated with codes, with the Swiss branch of banking giant, HSBC.
According to the US based financial data media house, Danjuma possesses not less than 30 properties globally including hotels, luxury and apartments.
The report showed Danjuma had also acquired the ‘Kings Arms Hotel’, a 300-year-old inn next to London’s Hampton Court Palace, once the home of King Henry VIII. It’s set to open soon after refurbishment, with rooms costing about 250 pounds ($318) a night.
"Popularly known as The Kings Arms Hotel”, the 300-year-old inn, next to London’s Hampton Court Palace, was once the home of Henry VIII.
“It’s poised to open soon after refurbishment, with rooms costing about 250 pounds ($318) a night. Guests can dine on traditional fare in the Six restaurants, a reference to the monarch’s many wives, or grab a pint on the terrace.
“But for Theophilus Danjuma, this is just one investment in a network of assets that span at least three continents. The 80-year-old Nigerian is worth $1.2 billion, according to the Bloomberg Billionaires Index, with his family office managing a portion of that wealth, often through low-key holdings such as the 14-room hotel,” Bloomberg reports.
Hannatu Gentles, the second daughter of the retired general, confirmed to Bloomberg in an interview that the property was indeed bought by the family and would bear the ‘Danjuma’ name. She said they paid 2.4m pounds (N1.09bn) for the hotel.
"This is the first, and will possibly be the last, listed building we’ve worked on. It’s taken longer than we wanted, but our name is attached to the building and we want to be proud of our work. It’s been a hard slog,” Gentles said.
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