Nigeria's Ex-Dictator Babangida Sweating Over "Egyptian Revolution," Fears Losing His Real Estate Loot

Former Nigerian military dictator, Ibrahim Babangida

Former military dictator and failed PDP presidential candidate, Ibrahim Badamasi Babangida, is sweating over the mass unrest that has hit Egypt, where he has some of his most prized investments.


News Desk Naija sources has learnt that apart from France, Germany and Nigeria, some of Babangida's most prized commercial real estate investments accruing from years of looting the Nigerian treasury are located in Egypt, especially in Alexandria. Alexandria is one of the cities currently hit by the mass unrest that could lead to the overthrow of the 30-year old Egyptian regime headed of Hosni Mubarak.


Mubarak is one of Babangida's closest allies, a relationship that started from his days as military dictator.  Last year, Babangida rushed his mother-in-law, Hajiya King, to Egypt for treatment when she was in bad health.  She died there in November 2010.  Some reports also said that Egypt was one of the countries that his late wife, the former First Lady Maryam Babangida, spent several months as she sought treatment for cancer.

If the revolution succeeds results in Mubarak being forced out of office, Babangida stands to lose his prized choice properties and several investments believed to be held in trust for him by Mubarak and his family.


Babangida recently saw his dreams of of running for the presidency on the platform of the PDP crash crash even before the primaries as Northern leaders chose Atiku Abubakar instead.