ADVERTISEMENT
  • The Membership Club
  • PT Hausa
  • About Us
  • Advert Rates
  • Careers
  • Contact Us
Thursday, April 22, 2021
Premium Times Nigeria
  • Home
  • Gender
  • News
    • Headline Stories
    • Top News
    • More News
    • Foreign
  • Investigations
  • Business
    • News Reports
    • Financial Inclusion
    • Analysis and Data
    • Business Specials
    • Opinion
    • Oil/Gas Reports
      • FAAC Reports
      • Revenue
  • Opinion
  • Health
    • COVID-19
    • News Reports
    • Investigations
    • Data and Infographics
    • Health Specials
    • Features
    • Events
    • Primary Health Tracker
  • Agriculture
    • News Report
    • Research & Innovation
    • Data & Infographics
    • Special Reports/Features
    • Investigations
    • Interviews
    • Markets
  • Arts/Life
    • Arts/Books
    • Kannywood
    • Lifestyle
    • Music
    • Nollywood
    • Travel
  • Sports
    • Football
    • More Sports News
    • Sports Features
  • Projects
    • #EndSARS Dashboard
    • Parliament Watch
    • Panama Papers
    • Paradise Papers
    • AGAHRIN
  • Home
  • Gender
  • News
    • Headline Stories
    • Top News
    • More News
    • Foreign
  • Investigations
  • Business
    • News Reports
    • Financial Inclusion
    • Analysis and Data
    • Business Specials
    • Opinion
    • Oil/Gas Reports
      • FAAC Reports
      • Revenue
  • Opinion
  • Health
    • COVID-19
    • News Reports
    • Investigations
    • Data and Infographics
    • Health Specials
    • Features
    • Events
    • Primary Health Tracker
  • Agriculture
    • News Report
    • Research & Innovation
    • Data & Infographics
    • Special Reports/Features
    • Investigations
    • Interviews
    • Markets
  • Arts/Life
    • Arts/Books
    • Kannywood
    • Lifestyle
    • Music
    • Nollywood
    • Travel
  • Sports
    • Football
    • More Sports News
    • Sports Features
  • Projects
    • #EndSARS Dashboard
    • Parliament Watch
    • Panama Papers
    • Paradise Papers
    • AGAHRIN
Premium Times Nigeria
BUA Group Ad BUA Group Ad BUA Group Ad
ADVERTISEMENT
#PanamaPapers: Swiss lawyer hired by Nigeria to repatriate Abacha loot denies allegations

#PanamaPapers: Swiss lawyer hired by Nigeria to repatriate Abacha loot denies allegations

bySamuel Ogundipe
April 28, 2016
2 min read
ADVERTISEMENT

Enrico Monfrini, a Swiss attorney hired by former President Olusegun Obasanjo to help track Sani Abacha’s loot stashed away in Switzerland, has dismissed reports that he operated firms in offshore tax havens while being contracted by different countries to repatriate funds from tax havens.

Mr. Monfrini was responding to a PREMIUM TIMES’ story that exposed his connection to over 178 firms in offshore tax havens as contained in the Panama Papers leak.

The private documents, obtained from a Panama-based law firm, Mossack Fonseca, revealed the financial dealings of many high profile personalities around the world.

In an email to PREMIUM TIMES, Mr. Monfrini said he stopped operating firms in offshore tax havens for years, and that he complied with all legal requirements throughout the period he was involved in the business.

“My activity in respect of those companies has stopped for years or even decades,” Mr. Monfrini said. “The activities of financial intermediaries are strictly regulated in Switzerland since 2000.”

Mr. Monfrini said he immediately registered as a financial intermediary in Switzerland after the service was legalised in that country in 2000 until 2014 when he decided to discontinue his interest.

“Since the entry into force of the Swiss anti-money laundering law in 2000, I have been a registered financial intermediary, until the end of 2014,” Mr. Monfrini said.

Mr. Monfrini further stated that offshore firms are designed to disguise the identities of their primary beneficiaries.

“Indeed, so-called offshore companies are regularly used to bring together partners in a joint venture, for estate or tax planning purposes, or, more generally, to protect the privacy of their owners. In many aspects, such entities may play the same role as a trust would, a legal concept with which the common law public may be more acquainted with,” Mr. Monfrini said. “Nearly all Geneva business law firms are registered financial intermediaries or have partners who are.”

RelatedNews

Oyetola inaugurates committee to tackle illegal mining

Makinde approves N279.5 million for LG election ballot papers

GTB’s first-quarter profit drops N4.5 billion as interest income wanes

Group urges CBN to halt confiscation of cards withheld by ATM

Mr. Monfrini, therefore, absolved himself of any wrongdoing, saying he always kept the highest ethical standards in the course of serving as an intermediary for offshore business owners.

“As a registered financial intermediary, I was subjected to regular audits of my files and of the measures I took to prevent the abuse of offshore companies for money laundering purposes, and have never been reprieved,” Mr. Monfrini said. “I have always kept the highest ethical standards and have strictly respected applicable laws and regulations.”

  • WhatsApp
  • Tweet
  • Email
  • Print
  • Telegram
  • More
  • Share on Tumblr
  • Pocket

Support PREMIUM TIMES' journalism of integrity and credibility

Good journalism costs a lot of money. Yet only good journalism can ensure the possibility of a good society, an accountable democracy, and a transparent government.

For continued free access to the best investigative journalism in the country we ask you to consider making a modest support to this noble endeavour.

By contributing to PREMIUM TIMES, you are helping to sustain a journalism of relevance and ensuring it remains free and available to all.

Donate


TEXT AD: To advertise here . Call Willie +2347088095401...


JOIN THE CONVERSATION

  • Disqus (5)
premiumtimes



PT Mag Campaign AD

Previous Post

FACT CHECK: Does malaria kill an African child every 30 seconds?

Next Post

Saraki to ‘explore options’ after tribunal ruling

Samuel Ogundipe

Samuel Ogundipe

Samuel Ogundipe is a general assignment reporter at PREMIUM TIMES. At various times, he has covered the Presidency, National Assembly and Defence. Twitter: @SamuelOgundipe

More News

Reps in Plenary

Reps clarify discussion on Pantami’s alleged links with terrorist groups

April 22, 2021
French President, Emmanuel Macron. [PHOTO CREDIT: Official Facebook page of Emmanuel Macron]

Deby’s Death: France declares support for Chad coup, gives reason

April 22, 2021
Photograph of trees lining a path. {NASA Climate Kids}

#EarthDay 2021: For every student enrolled in this American university, a tree is planted in Africa

April 22, 2021
Lagos State Governor, Babajide Sanwo-Olu [PHOTO CREDIT: @jidesanwoolu]

Courts Shutdown: Lagos JUSUN breaks ranks, announces partial suspension of strike

April 22, 2021
Nigerian Police officers on duty [Photo credit: Today.ng]

‘Cattle traders’ kidnap, kill man 10 days to his wedding – Police

April 22, 2021
Emeka Kennedy

Police Brutality: ‘How SARS finished me’ – Victim

April 22, 2021
Next Post

Saraki to ‘explore options’ after tribunal ruling

Former Head of State, Sani Abacha

Abacha loot: World Bank wants more time on SERAP's request

Discussion about this post

Search

#EndSARS: Latest Updates




Polaris Bank


JAIZ Ad


Explore Akwa Ibom Ad


Explore Akwa Ibom Ad


Access Bank Ad


NITDA Ad





Glo Ad

Subscribe to News via Email

Enter your email address and receive notifications of news by email.

Join 1,655,973 other subscribers.

Advertisement






netherland biz school Advert



Zenith Advert

ADVERTISEMENT

Our Digital Network

  • PT Hausa
  • Election Centre
  • Human Trafficking Investigation
  • Centre for Investigative Journalism
  • National Conference
  • Press Attack Tracker
  • PT Academy
  • Dubawa
  • LeaksNG
  • Campus Reporter

Resources

  • Oil & Gas Facts
  • List of Universities in Nigeria
  • LIST: Federal Unity Colleges in Nigeria
  • NYSC Orientation Camps in Nigeria
  • Nigeria’s Federal/States’ Budgets since 2005
  • Malabu Scandal Thread
  • World Cup 2018
  • Panama Papers Game
  • Our Digital Network
  • About Us
  • Resources
  • Projects
  • Data & Infographics
  • DONATE

All content is Copyrighted © 2020 The Premium Times, Nigeria

No Result
View All Result
  • Home
  • COVID-19
  • News
    • Headline Stories
    • Top News
    • More News
    • Foreign
  • Investigations
  • Business
    • News Reports
    • Financial Inclusion
    • Analysis and Data
    • Business Specials
    • Opinion
    • Oil/Gas Reports
      • FAAC Reports
      • Revenue
  • Agriculture
    • News Report
    • Research & Innovation
    • Data & Infographics
    • Special Reports/Features
    • Investigations
    • Interviews
    • Markets
  • Arts/Life
    • Arts/Books
    • Kannywood
    • Lifestyle
    • Music
    • Nollywood
    • Travel
  • Sports
    • Football
    • More Sports News
    • Sports Features
  • Projects
    • Panama Papers
    • Paradise Papers
    • Parliament Watch
    • AGAHRIN
  • Opinion
  • PT Hausa
  • The Membership Club
  • Dubawa
    • Dubawa NG
  • About Us
    • Advert Rates
  • Careers
  • Contact Us
  • Digital Store
  • DONATE

All content is Copyrighted © 2020 The Premium Times, Nigeria

Our website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
loading Cancel
Post was not sent - check your email addresses!
Email check failed, please try again
Sorry, your blog cannot share posts by email.