Secrets Reporter
Property records obtained by SecretsReporters have revealed that Mrs. Temitayo Adegoke, Chief Operating Officer (COO) of Sterling Bank Plc, one of Nigeria’s prominent financial institutions, owns a single-family residence in Dallas, Texas, valued at approximately $449,114 as of mid-2026.
The property, located at 7142 Elliott Dr, Dallas, TX 75227, in the Buckner Terrace neighborhood, is a 3-bedroom, 3-bathroom home built in 1976 with 1,957 square feet of living space on a 0.19-acre lot. It features central heating and cooling, an attached garage, a fireplace, and brick veneer exterior. The current market value equates to roughly $229 per square foot.
Adegoke acquired the home in June 2023 through a vendor’s lien transaction. The property was listed around $399,000 at the time of sale.
At the time of purchase in early-to-mid June 2023, the official USD/NGN exchange rate hovered between approximately ₦460 and ₦600, with significant volatility and parallel market rates often higher.
Using the user-noted approximate rate of ₦1,800 to the dollar (reflecting parallel/black market realities many Nigerians faced for international transactions), the home’s value would equate to roughly ₦718 million. Even at more conservative official averages for June 2023 (around ₦600/$, the cost was still substantial, over ₦239 million).
This acquisition occurred shortly after earlier flips: Homeagain Flips LLC held it briefly in 2022 before the 2023 sale to Adegoke. No pre-foreclosure issues were recorded.
Mrs. Temitayo is banking professional with over 20 years of experience. She serves as Chief Operating Officer at Sterling Bank Ltd., overseeing operations, processing units, facility management, administration, and legal services. Previously, she held roles including Chief Legal Counsel and Company Secretary at the bank and its holding company.
Her credentials include LL.B from the University of Lagos, LL.M from King’s College London, MBA from Warwick Business School and Alumni of Saïd Business School, University of Oxford.
She is a member of the Nigerian Bar Association, International Bar Association, Chartered Institute of Arbitrators, and other professional bodies.
Sterling Bank, part of Sterling Financial Holdings Company Plc, is a mid-tier Nigerian commercial bank. Executive compensation details for individual COOs are not publicly disclosed in detail, but senior banking roles in Nigeria, especially at this level, typically command high packages, often supplemented by allowances, bonuses, and benefits amid efforts to retain talent against fintech competition. Recent salary reviews at the bank have seen significant upward adjustments even for mid-level staff.
The ownership of substantial U.S. real estate by Nigerian banking executives is not uncommon, often justified as diversification, education for children, or investment amid Nigeria’s economic challenges, including naira depreciation, inflation, and foreign exchange restrictions. However, such assets frequently spark public scrutiny in a country where many struggle with basic living costs and where questions of wealth accumulation in the financial sector sometimes intersect with broader governance and transparency debates.
The property is owner-occupied, with Adegoke’s mailing address listed there. Multiple individuals with various surnames have been associated with the address in public records over the years, typical for a previously flipped or rented home.
The timing and scale of the investment, against the backdrop of Nigeria’s economic realities in 2023, highlight ongoing discussions about capital flight, executive perks, and the lifestyle of top bankers.
Sterling Bank did not respond to requests for comment by the time of publication.