At least four assets belonging to the wealthy and famous Saraki family of Nigeria, all tucked away in secret offshore territories, have been uncovered.
But the President of the Senate, Bukola Saraki, failed to declare them to the Code of Conduct Bureau (CCB) as required by Nigerian laws.

This revelation, made possible by internal data of the Panama-based offshore-provider, Mossack Fonseca, obtained by the German newspaper Süddeutsche Zeitung and shared by the International Consortium of Investigative Journalists (ICIJ) with PREMIUM TIMES and over 100 other media partners in 82 countries, could worsen Mr. Saraki’s case as he battles to extricate himself from allegations of corruption.

Mr. Saraki is yet to respond to PREMIUM TIMES’ request for comments. His spokesperson, Yusuph Olayinonu, did not return calls or respond to a text message seeking comments.

But in a written response to ICIJ, the Senate President insisted, through his UK lawyers, that he “declared his assets properly in accordance with the relevant legislation,” and that the charges against him “are both unfounded and politically motivated.”

Last September the CCB slammed false asset declaration charges on Mr. Saraki, accusing the Senate President, among other things, of failure to declare his assets in full.

Under the code of conduct law, a public office holder is required to declare his own assets, those of his wife as well as assets in the names of his children below the age of 18.

In his declaration form, Mr. Saraki listed property owned by his wife, Toyin Saraki, to include a plot of land at Lekki valued at N5 million, which he said was a gift he received in January 1989.

Mrs. Saraki was also listed as owner of a property at 15 Bryanston Square, London W1 and 69 Bourne Street, London.

While the first, which rental income was put at £48,000 with a value of £900,000, was acquired in January 1989, the second, which value was put at £2m and had rental value of £150,000, was acquired for business in April 2000.

However, a fresh investigation by PREMIUM TIMES and its media partners, has uncovered a hidden London property in the name of Toyin Saraki but which was left out among the assets declared by the Senate President.
The hidden property is located at #8 Whuttaker Street, Belgravia, London SW1W 8JQ. It has title number NGL802235.

Similarly, the Senate President stated in his assets declaration form that his wife held an account in Eco Bank Broad Street, Lagos, where she had N1.5 million at the time he became governor in 2003.

She also maintained an account in Coutts & Co Strand, London, where she owned £450,000 and $125,000 in addition to $3 million in Northern Trust International Banking Corporation Merrill Lynch Pierce Fenner.

Mrs. Saraki was also listed as maintaining substantial shares in European and American Trading Company, Tyberry Corporation and Eficaz Limited just as she held 500,000 shares, valued at £500,000, at P.C.C (U.K) Ltd. He was however silent on the number of shares the former first lady had in Haussmann and Tiny Tee (Nig) Limited.

Elaborate as the declaration in the name of Mrs. Saraki appeared to be, PREMIUM TIMES can authoritatively report that apart from the undeclared London property, three additional overseas assets in the name of the wife of the Senate President were hidden from the authorities and are missing from the assets declaration form.
Our investigations reveal that Mrs. Saraki owns secret companies in some notorious tax havens.

A troubled husband
Mrs Saraki’s husband, Bukola, who is Nigeria’s third most powerful official by virtue of his position as Senate President, is facing a 13-count charge of alleged false declaration of assets.

He is being tried by the Code of Conduct Tribunal, a special court that tries public officers for any contravention of the Code of Conduct for Nigerian public officers as spelt out in the Fifth Schedule of the Nigerian constitution.

DOWNLOAD ONE OF SARAKI’S ASSET DECLARATIONS HERE.-->http://media.premiumtimesng.com/wp-content/files/2015/10/BUKOLA-SARAKI-ASSETS.pdf

The Code of Conduct Bureau (CCB) and the Code of Conduct Tribunal (CCT) were established to enforce “a high standard of morality in the conduct of government business, and to ensure that the actions and behaviour of public officers conform to the highest standards of public morality and accountability.”

The Code of Conduct Bureau had on September 16, 2015 slammed charges on Mr. Saraki, accusing him of offences ranging from anticipatory declaration of assets, to making false declaration of assets in forms he filed before the Bureau while he was governor of Kwara state.

The Senate President was also accused of failing to declare some of his assets, acquiring assets beyond his legitimate earnings, and operating foreign accounts while being a public officer – governor and senator.
The offences, the charge said, violated sections of the Fifth Schedule of the Constitution of the Federal Republic of Nigeria 1999, as amended.

Mr. Saraki is also said to have breached Section 2 of the Code of Conduct Bureau and Tribunal Act and punishable under paragraph 9 of the said Fifth Schedule of the Constitution.


Senate President, Bukola Saraki

The Senate President has denied wrongdoings, saying the case was politically motivated and that he was merely being persecuted for emerging the President of the Nigerian Senate against the wishes of his political party, the ruling All Progressives Congress, which preferred a different candidate.

But this fresh revelation regarding hidden assets in tax havens might fuel the allegations against Nigeria’s third most powerful official and strengthen the prosecution’s case against the politician.

We have done nothing wrong – the Sarakis
Mr. Saraki and his wife denied any wrongdoing.
Responding to separate written demands for comments, the couple maintained that it is not illegal to hold shares in offshore companies.

In a letter to ICIJ by the London-based law firm of Discreet Law, Mr. Saraki said he declared his assets properly in accordance with the relevant Nigerian legislation.

Mrs. Saraki, in a separate letter to the ICIJ through another London-based law firm, Harbottle & Lewis, also insisted that she “made all required disclosures in relation to her shareholdings.”
In their separate letters, the couple threatened to sue should the ICIJ and its partners proceed to publish information about the undeclared offshore assets, with Mrs Saraki saying any publication concerning her private financial information infringes on her privacy and breaches the Data Protection Act 1998.
Will Fitzigibbon (International Consortium of Investigative Journalists), contributed reporting to this story.

cktheluckyman:
Abeg was Toyin Saraki ever a government official and required by law to declare her assets? As far as I am concerned,this is nothing.Properties belonging to Mrs Toyin Saraki are not same as the ones belonging to Bukola Saraki

LRNZH:


In the US for example, this excuse will not hold water. Toyin will have to prove she acquired these assets legally since she's married to a public official. This is another likely case of laundered money.

Even Saraki has undeclared assets if you read in-depth.

Public office is a hallowed position and there shouldn't be an appearance of beimg surrounded corruption.

DaBullIT:
According to Panama's release , I have not seen any Saraki listed


LRNZH where you see your story ?

https://projects.icij.org/panama-papers/power-players/index.html#68

LRNZH:


What you have is the partial list. The full.list will be released by ICIJ in May. Premium Times that broke the story apparently has partnership with the ICIJ.

See below:

cktheluckyman:


When Saraki becomes Senate president of the US or Governor of Alabama we can talk about that.Toyin has got nothing to explain to anyone.If the CCB or EFCC has anything on her let them bring it on

In his declaration form, Mr. Saraki listed properties owned by his wife, Toyin Saraki,......

LRNZH:


What you have is the partial list. The full.list will be released by ICIJ in May. Premium Times that broke the story apparently has partnership with the ICIJ.

See below:

DaBullIT:
Send the link from the full list , if the news was broken since May last year, it's strange i am just hearing about it


Sso kindly send the link

May, 2016 (not 2015). Hold your horses my friend

LRNZH:


Did you read this part?



In the declarations, he omitted some of her assets in hidden tax havens. That smells like rotten fish to me.

cktheluckyman:


can you quote the portins of the CCB act that says Saraki should declare his spouse's properties? Did Buhari declare Aisha's properties? Politics at times makes a lot of people stupid

sonOfLucifer:


Under the code of conduct law, a public office holder is required to declare his own assets, those of his wife as well as assets in the names of his children below the age of 18.
at least try to read the article....

zimoni:
I expect Saraki to also hire some guys to uncover Uncle Bubu's assets and some other APC chieftains.

We are in the era of witch-hunting.

I don't pity Saraki sha, he was over-ambitious and he got his finger burnt eventually.

He'll curse the day he left PDP for APC. They should ensure he goes to jail. It's time for PDP to take over the leadership of Senate.

I'm really enjoying this filmmmmm

Proudlyngwa:
Its unfortunate that the no. 1 lawmaker in this country is embroiled in this sort of scandal.
The honorable thing should be to step aside, if he does not want to resign., but the pride of a typical Nigerian politician will never allow him.

I just hope just one wire transfer didn't go through an American owned bank, else he is toast.

cktheluckyman:

abeg quote the relevant sections.

LRNZH:


In the US for example, this excuse will not hold water. Toyin will have to prove she acquired these assets legally since she's married to a public official. This is another likely case of laundered money.

Even Saraki has undeclared assets if you read in-depth.

Public office is a hallowed position and there shouldn't be an appearance of beimg surrounded corruption.

cktheluckyman:


Buhari was also accused of not having WAEC certificate and is still sitting tight as president.Saraki will remain SP until this case ends at the supreme court

sonOfLucifer:

Why should I bother?

cktheluckyman:


can you quote the portins of the CCB act that says Saraki should declare his spouse's properties? Did Buhari declare Aisha's properties? Politics at times makes a lot of people stupid

....Under the code of conduct law, a public office holder is required to declare his own assets, those of his wife as well as assets in the names of his children below the age of 18.....

sonOfLucifer:


Under the code of conduct law, a public office holder is required to declare his own assets, those of his wife as well as assets in the names of his children below the age of 18.
at least try to read the article....

sonOfLucifer:

Lol. Be like say you miss road. You think this investigation was led by Danladi Umar?

Read beyond the headlines. If your brain will let you.