TY Danjuma paid N1bn, acquired 300-year-old London hotel

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The Kings Arms Hotel, a 300-year-old inn next to London’s Hampton Court Palace, owned by Nigeria’s former Minister of Defence Theophilus Yakubu Danjuma, is poised to open soon after refurbishment, Bloomberg reports.
The 80-year-old Danjuma, who is worth $1.2 billion, according to the Bloomberg Billionaires Index, paid 2.4 million pounds (N1.096bn) for the 14-room Kings Arms Hotel two years ago. Rooms cost about 250 pounds ($318) a night.

The retired military general made a fortune from an oil block awarded to him in 1998 by the regime of late General Sani Abacha.

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