Pandora Papers on Nigeria: Peter Obi indicted - Infopalavanews

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Monday 4 October 2021

Pandora Papers on Nigeria: Peter Obi indicted

 


The content revealed how the Nigerians established set up shell companies and sometimes warehouse huge financial assets, in notorious secrecy jurisdictions.


The first series published on Monday showed that Peter Obi allegedly kept secret assets he did not declare to the Code of Conduct Bureau (CCB) before assuming office as governor.


Premium Times reports that in 2010, more than four years after Obi took a seat of power, he allegedly set up a discreet company in the British Virgin Island, and named it Gabriella Investments Limited, after his daughter.


Obi allegedly contracted Acces International, a secrecy enabler in Monaco, France, to help him incorporate an offshore entity.


Obi also allegedly paid Acces International to provide nominee directors for the company. These residents of tax havens were “paid” to sit on boards of companies to hide the identities of the real owners.


Access International then headed to the British Virgin Island where they contracted a local registered agent – Aleman Cordero Galindo & Lee Trust (BVI) Limited (Alcogal) to set up Gabriella Investments Limited for Obi.


I don’t declare what is owned with others. If my family owns something I won’t declare it. I didn’t declare anything I jointly owed with anyone”, Obi told Premium Times.


The publishers of the Pandora Papers will release details of other Nigerians mentioned in the coming days.


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