October 1, 2025 — Roosevelt Ogbonna, the chief executive of Nigeria’s Access Bank Plc, has purchased a £15 million ($20 million) residence on one of London’s most exclusive streets, in a rare high-profile transaction within the capital’s subdued luxury property market.
The acquisition, completed in August and disclosed through a UK filing, places Ogbonna among a select group of international buyers continuing to strike big-ticket deals despite broader weakness in London’s prime real estate. The Hampstead property—on a stretch colloquially known as Billionaires’ Row—features a spa and an entertainment suite. It had been marketed for £17 million as recently as 2021, according to City A.M.
Bloomberg first reported the purchase, noting that Ogbonna, who has led Nigeria’s largest lender by assets for over three years, did not respond to requests for comment.
London’s top-end housing market has been buffeted by higher stamp duties and the removal of preferential tax arrangements for wealthy foreign residents, both of which have suppressed demand. According to data from property researcher LonRes, price reductions for homes listed above £5 million surged by 45% between January and May compared with the same period last year.
Even so, a handful of headline-grabbing sales have gone through this year. They include a £25 million apartment bought by a member of the Thomson Reuters founding family and a £22 million Notting Hill property purchased by Silicon Valley investor Matt Cohler.
Ogbonna’s acquisition comes as Access Bank pursues an ambitious five-year strategy to expand its international footprint, aiming to double the share of assets held outside Nigeria by 2027. The bank, which counts more than 63 million customers across 24 countries including the UAE and the UK, ranks among Africa’s five largest financial institutions.
The deal also follows Ogbonna’s resignation in August as a non-executive director of Access Holdings Plc, the bank’s parent company, though he continues to serve as chief executive of the bank.
