According to documents retrieved by PREMIUMTIMES from the leaked Mossack Fonseca database, Mr. Rasheed Gbadamosi owns two expensive and luxurious penthouses in Panama.
Rasheed Gbadamosi was a former Minister for National Planning, writer, businessman and bureaucrat.
He had bought the two properties in 2008.
Mr. Gbadamosi was recently appointed co-chairman of the Lagos at 50 planning committee.
He reportedly bought the houses while serving as chairman of the Petroleum Products Pricing Regulatory Agency (PPPRA).
The septuagenarian shelled out a staggering N836.8 million ($2.6 million) for the penthouses located in a swanky tower in Panama.
Apart from its notoriety as a tax haven, Panama is famed for its modern skyscrapers, casinos and nightclubs that dot its capital, Panama City.
An official of Mossack Fonseca said in one correspondence, seen by PREMIUMTIMES, that Mr Gbadamosi was so enamoured, and in so much haste to acquire the exotic properties that he once offered to fly to Panama in a private jet to inspect them.
Details of Mr Gbadamosi’s luxury acquisitions were part of the internal data of the Panama-based law firm, Mossack Fonseca, obtained by the German newspaper, Süddeutsche Zeitung.
It was shared by the International Consortium of Investigative Journalists (ICIJ) with PREMIUM TIMES and over 100 other media partners in 82 countries.
According to the documents, sometime in early 2008, the former minister approached Gilberto Aleman, a Panamanian real estate broker.
He solicited for his help to secure two posh penthouses owned by Nicolas Corcione, owner of Ciclones Corporation Inc and Cosmopolitan Corp.
Ciclones Corporation Inc and Cosmopolitan Corp are the companies under which the properties were registered.
Valued at N436,800,000 ($1,365,000.00), Penthouse 1, the first penthouse Mr. Gbadamosi bought, is located in Ocean Park Tower 2.
It consists of a surface area of 537.33 square meters, on floors 35 and 36 of the Tower.
The property is registered under the ownership of Ciclones Corporation Inc.
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