- Senate Bukola Saraki has been named in another offshore leak
- Saraki was found to sit on the board of an offshore entity while he was governor and later member of the Nigerian Senate
- The Senate president did this in violation of Nigeria’s code of conduct law
Bukola Saraki, Nigeria's Senate president is among more than 40 world politicians whose offshore hideaways were exposed by a new investigation by International Consortium of Investigative Journalist (ICIJ).
In the said investigation, Saraki was found to sit on the board of an offshore entity while he was governor and later member of the Nigerian Senate in violation of Nigeria’s code of conduct law.
The Paradise Papers revelations came 18 months after the PanamaPapers provoked worldwide outrage over the use of shell companies by the world’s political and business elite.
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"The politician set up Tenia Limited in the Cayman Islands —a notorious tax haven in the Caribbean— in 2001, and ran it until at least 2015 as director and sole shareholder. It remains unclear what business he transacted with the entity and what asset he might have used it to conceal, " Premium Times wrote.
"But he failed to list the firm in his assets declaration filings when he was elected governor of Kwara in 2003, in defiance of the Code of Conduct Bureau and Tribunal Act. He also didn’t list the company when he was reelected governor in 2007 and when he was elected senator in 2011.
The news outlet also reported that the details emerged from a leaked data obtained by German newspaper, Suddeutsche Zeitung, and ICIJ from two offshore secrecy providers (Appleby and Asiaciti Trust) and 19 secrecy jurisdictions.
According to rep[orts, more than 380 journalists from 96 media organisations in 67 countries pored over the gigantic data, which cover a period of nearly 70 years, from 1950 to 2016.
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Meanwhile, NAIJ.com had reported that a publication which was made on Thursday, May 5, contained the names of about 100 Nigerians, and companies that have been identified in the Panama Papers.
Does the recent sack of Babachir Lawal confirm Buhari's fight against corruption? - on NAIJ.com
Source: Naija.ng