amc:


But he set up his first offshore company four years into his tenure as Governor. That is a red flag. Why did he need to do that? He was obviously trying to hide his assets. What we don’t know if those assets including monies diverted from the state purse.

NaijaRoyalty:
Fake news since October 4 2021

blackpanda:


Because you like Obi it is now fake news abi. Lol

EkelediliBuhari:
If this is the best you can come up with you have nothing

As a business man with a business that large there must be some “corporate adjustments”.. the threshold however is acceptable… it has nothing to do with state funds and it’s just business.

blackpanda:
Peter Obi serially violated the law by failing to declare to the Code of Conduct Bureau the companies and assets he tucked away in secrecy havens.


Peter Obi, the ex-governor of Anambra State in Southeastern Nigeria, is widely regarded in Nigeria as an advocate of good governance, openness, and transparency.

In addition to speeches on his governance records and statistics-laden prescriptions for Nigeria’s development, he likes to talk about how hugely successful he became in business before diving into politics.

In speeches and in printed literature, Mr Obi is never shy, reeling out his numerous business affiliations and accomplishments. On his website, for example, the former governor said he “was chairman of Next International Nigeria Ltd, then chairman and director of Guardian Express Mortgage Bank Ltd, Guardian Express Bank Plc, Future View Securities Ltd, Paymaster Nigeria Ltd, Chams Nigeria Ltd, Data Corp Ltd and Card Centre Ltd.”

On that same platform, the former governor also described himself as the youngest board chairperson ever appointed by Fidelity Bank Plc, a 34-year old Nigerian lender listed on the Nigerian Stock Exchange.

But beyond the facade of priggish speeches and appearances, an investigation by PREMIUM TIMES has now shown that Mr Obi is not entirely transparent in his affairs as he likes Nigerians to believe.

The investigation is part of the global International Consortium of Investigative Journalists (ICIJ)-led Pandora Papers project.

The leaked files were retrieved from some offshore services firms around the world that set up shell companies and other offshore entities for clients, many of them influential politicians, businesspersons and criminals, seeking to conceal their financial dealings.

The two-year collaboration has so far revealed the financial secrets of not less than 35 current and former world leaders, more than 330 public officials in more than 91 countries and territories.

Mr Obi is one of the individuals whose hidden business activities was thrown open by the project. Indeed, he has a number of secret business dealings and relationships that he has for years kept to his chest. These are businesses he clandestinely set up and operated overseas, including in notorious tax and secrecy havens in ways that breached Nigerian laws.

The former governor admitted that he did not declare these companies and the funds and properties they hold in his asset declaration filings with the Code of Conduct Bureau, the Nigerian government agency that deals with the issues of corruption, conflict of interest, and abuse of office by public servants.

He said he was unaware that the law expected him to declare assets or companies he jointly owns with his family members or anyone else.

Peter Obi, his daughter and a secret business

Mr Obi has two children- a daughter, Gabriella Nwamaka Frances Obi, and a son, Gregory Peter Oseloka Obi. Sometime in 2010, more than four years after he became governor, the politician developed an appetite to set up his first discreet company in the British Virgin Island. He named the company Gabriella Investments Limited, after his daughter

To set up what has now become a convoluted business structure, Mr Obi first approached Acces International, a secrecy enabler in Monaco, France, to help him incorporate an offshore entity in one of the world’s most notorious tax havens noted for providing conduits for wealthy and privileged corrupt political elites to hide stolen cash to avoid the attention of tax authorities.

Tax havens are politically and economically stable offshore jurisdictions or countries with extensive laws and systems that provide little or no tax obligations, but enable high secrecy and privacy protection for foreign individuals and businesses.

Mr Obi also paid Acces International to provide nominee directors for the company. Nominee directors are residents of tax havens paid to sit on boards of companies to hide the identities of real owners of offshore firms.

So, after accepting a brief from the then governor or his representatives, Acces International officials headed to the British Virgin Island, a notorious tax haven, where it contracted a local registered agent – Aleman Cordero Galindo & Lee Trust (BVI) Limited (Alcogal) — to set up Gabriella Investments Limited for Mr Obi.


https://www.premiumtimesng.com/news/headlines/487997-pandora-papers-inside-peter-obis-secret-businesses-and-how-he-broke-the-law.html

blackpanda:


Because you like Obi it is now fake news abi. Lol

SocialJustice:
They absolutely have nothing on the man. People who have a low understanding of shell companies and how he used it always bring this rubbish up.

Tinubu should come and clear his name. He's not even the best candidate without all the baggage he's carrying.

EkelediliBuhari:


One word

AlphaBeta

SocialJustice:
They absolutely have nothing on the man. People who have a low understanding of shell companies and how he used it always bring this rubbish up.

Tinubu should come and clear his name. He's not even the best candidate without all the baggage he's carrying.

blackpanda:


ok. what about that