Nigerian oil magnate Igho Sanomi is on the verge of losing three luxury apartments in London after failing to settle a $3 million debt owed to Credit Suisse. The Swiss bank has already seized his private jet and put it up for sale as part of efforts to recover the outstanding sum.
Sanomi, the chairman of Taleveras, had acted as a guarantor for a credit facility extended to one of his companies by Credit Suisse Group AG. However, after the company defaulted on repayment, other financial institutions, including Banque Cantonale de Genève and ING Groep NV, also took legal action over Taleveras’ unpaid debts.
In a written submission to a London court, Andrew Brown, counsel for Credit Suisse, confirmed that three of Sanomi’s properties—located in Chelsea, West London, and Belgravia, an exclusive diplomatic quarter—had been identified as assets that could be forfeited. The billionaire was not present in court, and his legal team at Clyde & Co did not file any objections to the orders.
A Crumbling Business Empire
Sanomi’s company, Taleveras, is one of Africa’s largest oil trading firms, handling over 100 million barrels of crude annually. Despite its extensive reach, the company has faced mounting financial pressure.
Legal filings revealed that the billionaire had already been battling multiple debt claims, with Banque Cantonale de Genève securing a freezing order against his London properties and ING Groep NV launching a separate lawsuit over unpaid loans.
Taleveras’ Expansion into Biofuels
Just two years ago, Sanomi had spoken optimistically about the future of his business. In a 2017 Bloomberg interview, he revealed plans for Taleveras to expand into biofuels through a joint venture with Global Green Development Group to build a biorefinery in the U.S.
“The world is changing. People are becoming more aware of the climate, so cleaner fuels are the future. This should form a very significant part of how we look at things going forward,” Sanomi had stated.
A High-Profile Career Under Scrutiny
Born in 1975 in Agbor, Delta State, Sanomi is the son of a retired Assistant Inspector General of the Nigerian Police Force. He studied Geology and Mining at the University of Jos before launching his career in the oil industry.
Before founding Taleveras in 2004, he co-founded Sarian Oil, a trading company focused on the West African market. Over the years, Sanomi diversified his portfolio, serving as chairman and co-chairman of various organizations across telecommunications, shipping, aviation, and real estate. He also established the Dickens Sanomi Foundation, a non-profit named in honor of his late father.
Despite his business success, the recent legal battle over unpaid debts has cast a shadow over his financial standing. With his private jet already seized and his high-value London properties at risk, Sanomi’s future in the global energy sector remains uncertain.
