Tag Archives: #PanamaPapers

Panama Papers

#PanamaPapers: How Tinubu operated 12 shell companies in tax havens

Last October, Nigeria’s biggest indigenous oil and gas company, Oando Plc, made history for the wrong reason when it announced a loss of N184 billion in the 2014 financial year. The loss was the biggest ever recorded by any Nigerian company. While its shareholders bore the brunt of the bleak…

Bukola Saraki

Saraki’s trial: Nigeria Labour Congress, civic groups advise Senate not to amend anti-corruption law

The Nigeria Labour Congress, NLC, has c alled on the Nigerian Senate to jettison its ongoing effort to change the country's anti-corruption laws. A civil society group, Transition Monitoring Group, also pushed a similar position. In separate statements released on Sunday, the groups said even though the National Assembly has…

#PanamaPapers: Documents counter T.B. Joshua’s denial of own offshore company in tax haven

Four separate documents retrieved from the massive #PanamaPapers database have countered the claim by the founder of the Synagogue Church of All Nations, Temitope Joshua, that he had no link with any offshore company at the British Virgin Island (BVI), a notorious tax haven. PREMIUM TIMES had, as part of…

Some tax incentives not serving their purpose – Actionaid

ActionAid Nigeria, a Civil Society Organisation (CSO) has raised concerns that some of the tax incentives granted to companies in Nigeria are not serving their purposes. The Deputy Country Director, Ifeoma Charles-Monwuba, said this on Wednesday in Abuja while addressing a news conference on tax incentives and implications for development…

#PanamaPapers: ​Headquarters of Mossack Fonseca raided by Panamanian police

Panamanian authorities have raided the headquarters of the Mossack Fonseca, the law firm from where massive data showing the offshore companies of some of the world's wealthiest and powerful people used, were leaked. The organised crime unit of the Panamanian police said it carried out the raid "without incident and…

#PanamaPapers: Despite evidence, T.B. Joshua claims shell company not his

Despite documents obtained by PREMIUM TIMES from the massive data leak from Panamanian law firm, Mossack Fonseca, clearly showing the founder of the Synagogue Church of All Nations, Temitope Joshua, and his wife, Evelyn, incorporated a company in the British Virgin Islands, a known tax haven, the preacher has denied…

Panama president says tax evasion a global phenomenon

The President of Panama, Juan Varela, has criticised the singling out of his country for the various tax dodging schemes revealed in the massive data breach known as #PanamaPapers. “Panama does not deserve to be singled out on an issue that plagues many countries,” Mr. Varela said, adding that the…

How PDP can return to power in 2019 – David Mark

The electoral misfortune Peoples Democratic Party suffered in the 2015 general elections which ended its 16-year rule was a consequence of imposition of candidates, a former Senate President, David Mark, has said. Mr. Mark said the party must avoid imposition of candidates if it must return to power in 2019.…

SOUND BITES: 10 Top Quotable Quotes of The Week

“We have been patient with this government but this persistent scarcity and suffering of our people will no longer be tolerated”. - The President of Nigeria Labour Congress, Ayuba Wabba, on the current petroleum crisis in the country (Source: Punch newspaper) “At the end of this storm the sky will…

#PanamaPapers reveal T.B. Joshua’s shell company in offshore tax haven

Temitope Joshua is arguably the most influential preacher in Africa. The founder of the Synagogue Church of All Nation (SCOAN) attracts huge numbers of people from across Africa and beyond, many of them seeking faith healing from ailments and exorcism from demonic possession. On September 12, 2014, a guesthouse within…

former Senate President, David Mark

#PanamaPapers: SERAP wants Nigerians involved investigated, prosecuted

The Socio-Economic Rights and Accountability Project, SERAP, has called on the Code of Conduct Bureau to investigate current and past high-ranking public officers in Nigeria named in the Panama papers. The call is contained in a statement issued by the group on Sunday in Abuja. The statement which was signed…

Bukola Saraki

‘Tainted’ Saraki should resign, Nigerian civil society group insists

The verbal fireworks between civil society groups and the embattled Senate President, Bukola Saraki, continued on Sunday with the Transition Monitoring Group releasing yet another scathing statement urging Nigerians to remain steadfast in their quest to kick the top lawmaker out of office. The TMG said it has continued to…

#PanamaPapers: African Union panel wants Nigeria, other countries to take ‘firm’ action

An African Union panel on illicit financial flows has called for firm and comprehensive action against the world's tax havens and financial secrecy jurisdictions. The call followed the global furore in the wake of the 'Panama Papers' leak, involving a cache of over 11.5 million secret financial records of politicians,…

#PanamaPapers: Mossack Fonseca’s El Savador office raided

Officials from the office of the attorney general in El Salvador have raided the local office of Mossack Fonseca and confiscated several documents and equipment, Al Jazeera is reporting. The Panama-based law firm at the centre of the massive data leak the media has dubbed  the Panama Papers.  The International…

#PanamaPapers: How ex-NNPC boss incorporated secret company in tax haven to partly own Ghana’s top hotel

Funsho Kupolokun, 69, a former group managing director of the Nigerian National Petroleum Corporation, is one of the largest shareholders in one of Ghana’s biggest hotels, the Kempinski Accra Hotel, a 269-luxury rooms five-star facility. But a peripheral look at the company’s records will not reveal this fact because in…

#PanamaPapers: Head of Transparency International in Chile resigns

The president of the Chilean chapter of Transparency International has resigned after he was alleged to be involved with secret offshore companies exposed in the #PanamaPapers. Though Gonzalo Delaveau was not accused of any wrongdoing, the leaks throw some doubts into his role as the head of an organization that…

#PanamaPapers: I won’t resign, Senate President, Bukola Saraki says

Embattled Senate President Bukola Saraki on Friday said he would not yield to growing calls from Nigerians that he should step down amid growing corruption scandals. Mr. Saraki said those calling for his resignation were being sponsored by politicians who had always opposed his leadership since he emerged Senate President…

#PanamaPapers: Nigerian govt’s silence ‘worrisome, repugnant’ — CACOL

The Coalition Against Corrupt Leaders, CACOL, an anti-corruption group, has called on the Nigerian government to commence immediate investigations into the "gruesome revelations" contained in the #PanamaPapers offshore assets series published by PREMIUM TIMES. The group also said the Senate President, Bukola Saraki, should resign from office and surrender himself…

Bukola Saraki

#PanamaPapers: TMG demands Saraki’s resignation

Call for the resignation of Nigeria’s Senate president, Bukola Saraki, is gathering steam after #PanamaPapers exposed his secret offshore assets shortly after his false assets declaration trial began at the Code of Conduct Tribunal. The Transition Monitoring Group (TMG), a coalition of over 400 civic organisations working for the entrenchment…

#PanamaPapers: Documents show hidden offshore assets belong to Senate President Saraki; wife, Toyin, a mere front

Toyin, the wife of the President of the Nigerian Senate, is a mere business front for her husband, fresh documents retrieved by PREMIUM TIMES from the massive Mossack Fonseca database have shown. According to the new documents, the assets in Toyin’s name in tax havens are actually held in trust for…

#PanamaPapers: Embattled David Mark lies, claims exposed offshore companies not his

A former Senate president, David Mark, has finally responded to report exposing his link with offshore shell companies in breach of Nigeria's code of conduct for public officers. On Tuesday, PREMIUM TIMES exclusively reported Mr. Mark's links with eight offshore companies in British Virgin Island as shown by the leaked…

Austrian bank chief implicated in #PanamaPapers leak resigns

Micheal Grahammer, the chief executive of Hypo Landesbank Vorarlberg, an Austrian bank, mentioned in the massive #PanamaPapers document leak, has resigned. The bank announced that Mr. Grahammer's resignation on Thursday came as a surprise. Austrian broadcaster ORF, one of the more than 100 news organisations that investigated the trove of…

Outraged by #PanamaPapers revelations, Nigerians ask Buhari to probe, prosecute named officials

Civil society groups and concerned Nigerians on Wednesday asked President Muhammadu Buhari to immediately order relevant anti-graft and security agencies to immediately launch a probe of some top public officials named in connection with the massive Panama Papers scandal. A huge trove of internal data of the Panama-based offshore provider,…

#PanamaPapers: Africa’s richest man, Dangote, his brother, Dantata, linked to shell companies in tax havens

With a staggering $15.4 billion wealth, Nigeria’s businessman and industrialist, Aliko Dangote, is on Forbes Rich List as the richest man in Africa. But does Mr. Dangote pay his fair share of tax in Nigeria or is he hiding assets abroad? That remains unclear. Yet that question has become even…

#PanamaPapers: Lawyer hired by Nigeria to track Abacha loot has 178 firms in tax havens

Enrico Monfrini, a Swiss attorney hired by the administration of former President Olusegun Obasanjo to track missing Abacha loot in Swiss banks is himself operating over 178 companies in offshore tax havens, a massive leak of secret documents belonging to offshore shell companies has revealed. Mr. Monfrini was hired in…