Investigators with the Independent Corrupt Practices and Other Related Offences Commission (ICPC) have reportedly identified several high-value properties in Egypt allegedly connected to former Kaduna State governor, Nasir El-Rufai. Sources within the anti-graft agency say the assets, thought to be worth billions of naira, were acquired between 2021 and 2023.
The properties are located in upscale districts of New Cairo, a rapidly expanding suburb known for luxury estates and gated communities. Investigators are examining holdings in exclusive residential areas, including Arabella Estate, Banafsek Estate, Oriana Estate, and Cairo Festival City.
Villas in estates such as Cairo Festival City and Arabella reportedly sell for between 50 million and 200 million Egyptian pounds (about ₦5.3 billion), while luxury apartments can cost around 26 million Egyptian pounds (roughly ₦700 million). Among the properties under review are a villa at House No. 113, Arabella Estate, a villa at House No. 18, Banafsek Estate, and a unit in Oriana II Estate near the American University in Cairo. Several apartments in Cairo Festival City, including Units 514–517, as well as units 4000 and 4100 in Oriana Estate, are also part of the investigation.
An ICPC source said the commission is analysing intelligence reports and tracing ownership structures. “We are verifying property registries and financial trails as part of the process,” the official noted. Investigators are following diplomatic and legal procedures since the properties are located outside Nigeria.
Efforts to obtain comments from El-Rufai’s family were unsuccessful, and the ICPC has yet to release an official statement.
