Nigerian billionaire businessman Femi Otedola has reportedly acquired a luxury mansion in London valued at £53 million, approximately N96 billion.
According to a report by Bloomberg, the 10-bedroom property is located in the prestigious St John’s Wood district near Regent’s Park in London.
Luxury Mansion Features Cinema, Spa
Reports indicated that the mansion was built in 2016 and comes with several luxury facilities including a private cinema, spa and cigar room.
The property was reportedly listed for sale in 2020 with an initial asking price of £75 million before the recent acquisition.
A filing in the United Kingdom was also said to have confirmed the purchase, although representatives of the billionaire businessman reportedly declined to comment on the deal.
London Luxury Market Still Attracting Billionaires
The acquisition comes amid continued activity in London’s luxury housing market despite increasing taxes and policy changes affecting foreign residents.
According to reports, sales of properties valued above £5 million reportedly declined by 28 percent in the first quarter of 2026 compared to the same period in 2025.
Despite the drop, several mega property deals above £20 million have still been completed this year.
Earlier in 2026, businessman Suneil Setiya reportedly acquired a Chelsea mansion owned by Nick Candy for more than £270 million.
John Aylward also reportedly purchased a Belgravia mansion valued at £35 million.
Otedola’s Expanding Investments
Otedola is widely known for investments spanning finance, power generation, shipping, storage and insurance brokerage.
He currently serves as chairman and largest shareholder of First HoldCo Plc.
Reports also recalled that Roosevelt Ogbonna, the Chief Executive Officer of Access Bank Plc, reportedly purchased a £15 million property in London’s Hampstead area, popularly called “Billionaires’ Row,” in 2025.
Social Media Reactions Trail Purchase
The reported acquisition has continued to spark reactions online, with many Nigerians sharing mixed opinions about the billionaire’s latest investment.
While some users congratulated Otedola, others questioned why wealthy Nigerians continue investing heavily abroad instead of channeling more resources into local development projects.