CCB Probes Peter Obi, Saraki, David Mark, Four Others Over Offshore Assets

The Code of Conduct Bureau (CCB) has commenced investigations into seven prominent Nigerians named in the Panama Papers and Pandora Papers over allegations of undeclared offshore assets.

According to a report by PREMIUM TIMES, those under investigation include the Nigeria Democratic Congress (NDC) presidential candidate, Peter Obi; former Senate Presidents Bukola Saraki and David Mark; and former Minister of Aviation, Stella Oduah.

Others are the late former Bayelsa State Governor Diepreye Alamieyeseigha, former Delta State Governor James Ibori, and retired Delta State judicial officer Stella Ogene.

Sources at the bureau reportedly confirmed that case officers had been assigned to the individuals and investigations had commenced.

“All the Nigerian officials named in the Panama and Pandora papers will be investigated. But seven of them have been assigned to case officers who have already commenced investigations,” a CCB source was quoted as saying.

The investigation is focused on whether the individuals breached asset declaration laws by using offshore companies to hold assets while serving in public office or maintaining foreign bank accounts in violation of applicable regulations.

The CCB is also reportedly examining whether the arrangements disclosed in the international leaks contravened Nigeria’s rules governing the financial interests and conduct of public officers.

The bureau’s chairman’s aide reportedly confirmed the investigation, adding that the exercise would be extended to other Nigerians named in the leaked documents.

The Panama Papers and Pandora Papers are major international investigations that exposed offshore financial arrangements involving politicians, businesspeople and other prominent individuals across several countries.

However, being named in the leaks does not, in itself, establish that an individual committed an offence. The outcome of the CCB investigations will determine whether there is evidence of any breach of Nigerian law.