EFCC opens investigation of Peter Obi, Stella Oduah, others over Pandora Papers

Nigeria’s Economic and Financial Crimes Commission has commenced investigations into the alleged tax evasion by some Nigerians named in the Pandora Papers, TopNaija reports.

What does Pandora Papers mean?

This is a partial list of people named in the Pandora Papers as shareholders, directors and beneficiaries of offshore companies. In total, 35 current and former national leaders appear in the leak, alongside 400 officials from nearly 100 countries. More than 100 billionaires, 29,000 offshore accounts, 30 current and former leaders, and 300 public officials were named in the first leaks in October 2021. An estimated $32 trillion may be hidden from being taxed, according to reports.

Peter Obi, others summoned

It was gathered that a former governor of Anambra State, Peter Obi, has already been summoned for questioning by the commission over his secret assets and financial deals exposed in the Pandora Papers.

Apart from Obi, the acting Managing Director, Nigerian Ports Authority, Mohammed Bello-Koko; and a former minister and serving senator, Stella Oduah, mentioned in the report are also being probed.

Others include Governor Abubakar Bagudu of Kebbi State, Governor Gboyega Oyetola of Osun State as well as his associates including former Lagos State Governor, Bola Tinubu, and Ogun State Governor Dapo Abiodun.

Children of a former National Security Adviser, Col. Sambo Dasuki (retd.), were also said to have engaged in offshore deals.

Pandora Papers is the biggest leak of 11.9 million documents from offshore services providers, detailing the secret offshore accounts of 35 world leaders, including current and former presidents, prime ministers, and heads of state as well as celebrities.

The EFCC was said to have asked Obi to report at the agency’s Abuja headquarters on October 27 for questioning following revelations that he incorporated offshore holdings, which he did not declare to the Code of Conduct Bureau when he served as a governor, apart from allegedly operating foreign accounts and hiding his wealth in tax havens to evade taxes.

PremiumTimes, which has been publishing the Pandora Papers, said Obi and others were being investigated for tax evasion.

The EFCC spokesman, Wilson Uwujaren, said he had not been briefed on the investigations.

Obi did not respond to calls on Sunday and he had yet to reply a text message sent to his phone as of the time of filing this report.