Journalism of Courage

Igho Sanomi runs into trouble again as Swiss bank seeks to seize his three London homes

After Swiss Bank Credit Suisse Group AG seized embattled oil tycoon Igho Sanomi’s private jet. The bank is about to seize his London home also, Per Second News gathered Tuesday.

The Swiss bank is owed about $3 million by Sanomi, who was a guarantor for a credit facility extended to one of his companies, Credit Suisse’s lawyer Andrew Brown said in written submissions to a London court last week. Three properties owned by Sanomi including apartments in Chelsea, west London, and Belgravia, in the heart of London’s diplomatic quarter, have already been identified as assets that may have to be forfeited if he loses.

The jet taken from Sanomi was listed for sale, according to multiple reports in Europe.

Credit Suisse isn’t the only lender targeting Sanomi’s assets. Banque Cantonale de Geneva has already made a freezing order against the London properties. ING Groep NV is also suing Sanomi for Taleveras’s unpaid debts, according to separate court documents filed in October.

Per Second News also reported in 2016 that Nigeria lost an estimated $8 billion annually through the crude oil-for-refined products exchange arrangement, better known as crude oil swaps, which the Nigerian National Petroleum Corporation (NNPC) had with oil traders such as Sanomi’s Taleveras Group Nigeria Limited, Trafigura, Vitol, Aiteo Energy Resources, Mercuria, Glencore, , Sahara Energy Limited, Etena Oil and Gas Limited, Ontario Oil and Gas and Rahmaniya Oil and Gas.

Sanomi, who wasn’t represented in London court, is believed to be in self exile in United Arab Emirates.

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