Sunday, 1 May 2016

How ex-minister for national planning and former PPPRA chairman bought N836.8 million penthouses

Rasheed Gbadamosi
Former minister for national planning, writer, businessman Rasheed Gbadamosi, who was recently appointed co-chairman of the Lagos at 50 planning committee, is the owner of two sumptuous penthouses in Panama, one of the world’s best-known tax havens.


Mr Gbadamosi’s suspicious dealings were exposed by Premium Times with the help of documents leaked from the database of Mossack Fonseca, a law firm that allowed wealthy people use offshore firms to evade tax and avoid sanctions worldwide.

The correspondence of an unnamed Mossack Fonseca official showed that Mr Gbadamosi was so interested into the purchase he offered his estates agent to fly to Panama in a private jet to inspect the buildings.

The first penthouse (Penthouse 1) is located in Ocean Park Tower 2, and consists of a surface area of 537,33 square meters, on floors 35 and 36 of the Tower. It is valued at N436,800,000. 

The second penthouse (Penthouse 5) is also located in Ocean Park Tower 2. It consists of a surface area of 479,88 square meters, on the 39 floor of the building. It costs N400,000,000.

Ocean Park Tower 2 is one of the most expensive residences in Panama City. Located within the lush, Punta Pacifica area of the city, Ocean Park Tower 2 is a 44-floor glassy skyscraper that stood at 463 feet tall. 

The high-rise building, which overlooks panoramic views of the Pacific ocean, is furnished with controlled security, high-end luxury finishing, internal jogging and walking tracks, football field, parks for children, basketball and volleyball courts etc.


Source- Vanguard

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