₦airaland Forum

Why do they do this?

How many European politicians buy houses outside of their countries?

Why is this thing common among African politicians?

Why steal from your country and take it to another country? Why don't you buy/invest the money you stole back in your country to create jobs ?

When will African politicians be wise?

From Atiku to Obi to Tinubu to now Wike and even Sowore all own properties abroad from stolen money, and they don't live in majority of those houses.
Why can't they own them here in Nigeria? And they claim to love the country.

Seun
Mynd44
nlfpmod

kingsavage:
Why do they do this?

How many European politicians buy houses outside of their countries?

Why is this thing common among African politicians?

Why steal from your country and take it to another country? Why don't you buy/invest the money you stole back in your country to create jobs ?

When will African politicians be wise?

Who said they but houses to live in it. Houses are just to launder money. When ever you need quick cash, you can sell it fast, or use it as collateral to get money

They are preparing life for their kids, that's how they understand things. Right now the rate countries want to get rid of Nigerians is serious. Investing at home is the only way.

kingsavage:
From Atiku to Obi to Tinubu to now Wike and even Sowore all own properties abroad from stolen money, and they don't live in majority of those houses.
Why can't they own them here in Nigeria? And they claim to love the country.

Seun
Mynd44
nlfpmod

Stop making blank statements you cannot defend in court over the internet.

That's the Year 1 of having common sense

kingsavage:
Why do they do this?

How many European politicians buy houses outside of their countries?

Why is this thing common among African politicians?

Why steal from your country and take it to another country? Why don't you buy/invest the money you stole back in your country to create jobs ?

When will African politicians be wise?

The answer is very simple.. they are very ignorant and uneducated. Because they think embezzlement of public funds to go buy houses abroad in this case either usa or UK is a good investment for them to have and sell in the future for greater profit. And without them knowing what they digging their grave.

Some buy houses with HOA and most times they forfit their houses to HOA fines due to lack of metainance culture.
Secondly they will want to sell in the future thinking they making profit but not knowing thats not how most american and UK economy works for example right now in america there is a housing crisis where people are not buying or selling their houses due to interest rate and now houses that one of those politicians may have bought for about $3million five or eight years ago is now worth about $1.7million which is a huge loss in value.
They dont live in those houses just lock them up or give to friends and relatives to live in and with time the house will start having fixing issues and they waste extra money for repairs over and over thereby sinking more money or sell at a huge loss.
Also every year, they pay morgauage taxes like yearly to the thousands which is stipulated by law. And in some cases, they dont pay for some years and the government takes the house from them.

Moral of they story they think they are making smart investments but they are not. Instead of them to use that money to invest in nigeria to make nigeria great like for example creating a new hydro power plant to power a full state 24/7 they use the money for personal gains at the end they all kpai and leave those stollen wealth behind such an irony of life.. greed to the last.. leaving other young generations to suffer for their actions. Such a pity

kingsavage:
Why do they do this?

They may visit and live there.

Their children might migrate and live there.

They could rent it out so don't need to live there while benefitting from appreciation in stable countries they buy in.

It used to be a hideaway in corporations for looted money though not hidden anymore.

Etc. Etc. Etc.

kingsavage:
How many European politicians buy houses outside of their countries?

Depends what country, but the answer is many. Especially the higher they rise on the international stage.

kingsavage:
Why is this thing common among African politicians?

Don't put us down please. Every continents politicians do it, just some are more open than others.

The below is not non-African politicians per se, but flavor:
https://www.bbc.co.uk/news/uk-58792393

Infotubia9ja:
Moral of they story they think they are making smart investments but they are not.

They really are not.

https://wolfstreet.com/2025/09/25/sales-of-existing-single-family-homes-crushed-further-supply-at-2016-levels-condo-sales-near-low-in-the-data-supply-at-housing-bust-levels/

https://wolfstreet.com/2025/09/23/the-14-bigger-cities-with-the-biggest-price-declines-of-single-family-homes-10-to-24-through-august/

budaatum:
They really are not.

https://wolfstreet.com/2025/09/25/sales-of-existing-single-family-homes-crushed-further-supply-at-2016-levels-condo-sales-near-low-in-the-data-supply-at-housing-bust-levels/

https://wolfstreet.com/2025/09/23/the-14-bigger-cities-with-the-biggest-price-declines-of-single-family-homes-10-to-24-through-august/

Moral of the story is nigerians need smart intelligent people who know what today's world operates like to lead the country and not old exhausted individuals who's brains are already screaming retirement

Infotubia9ja:
Moral of the story is nigerians need smart intelligent people who know what today's world operates like to lead the country and not old exhausted individuals who's brains are already screaming retirement

Or, moral of the story is we Nigerians need smart intelligent people who know what today's world operates like to educate us like you did in your very insightful post.

And you didn't need to lead the country to do it.

budaatum:
Or, moral of the story is we Nigerians need smart intelligent people who know what today's world operates like to educate us like you did in your very insightful post.

And you didn't need to lead the country to do it.

You are very correct indeed you are one of the enlightened and educated people you will do great as well in the future to come kudos to you.

In order to attempt to normalize crooked politicians, OP lumps them together with PO and Sowore, then calls the mods to push to frontpage.

Basic trick from a Tinubu supporter.

The rent is another stream of income. Peter Obi makes about 5 million naira every week just by renting out his 2 or 3 houses abroad. He can then donate some of that as charity.

He doesn’t have to touch the 20 billion naira kept in Panama for his retirement.

Because they are not leaders. They rulers and looters and they don't care about developing the country. Thanks.

It is only a FooL that steals from his Father and gives his loot to his Uncle to keep.
That's exactly what the Black man in Africa is good at. Isn't that amazing?

There are just bush men with Low IQ and the painful part is that they eventually lose all the homes

doncartel:
The rent is another stream of income. Peter Obi makes about[b] 5 million naira[/b] every week just by renting out his 2 or 3 houses abroad. He can then donate some of that as charity.

He doesn’t have to touch the 20 billion naira kept in Panama for his retirement.

hmmmn

kingsavage:
Why do they do this?

How many European politicians buy houses outside of their countries?

Why is this thing common among African politicians?

Why steal from your country and take it to another country? Why don't you buy/invest the money you stole back in your country to create jobs ?

When will African politicians be wise?

see what happened to emiefele the money he stole that was invested in Nigeria has been seized. From the bank to the large estate to his big warehouse. They buy houses abroad for their children and to use it as a safe haven. The foreign exchange gain plus rental income too.

kingsavage:
Why do they do this?

How many European politicians buy houses outside of their countries?

Why is this thing common among African politicians?

Why steal from your country and take it to another country? Why don't you buy/invest the money you stole back in your country to create jobs ?

When will African politicians be wise?

They have the typical hunter gatherer gene. Those species of people understand nothing about farming, planning, sowing or strategizing towards a better future. They simply wake up each day hunting for public funds to loot. They don't understand how to increase wealth or multiply it. They simply spend as they see and go on looking for ready made fruits not minding whether someone else planted the seed.

To be used as a holiday home when ever they visit. They also buy with intentions to sell it later in future.

Another one is the money stolen is just to much for one person and they don't know what to do with it.