PANDORA PAPERS: Leaks land Peter Obi in EFCC hot seat

The EFCC has made its first reaction to the ongoing Pandora Papers leak, an investigation by the Premium Times and over a hundred other publications around the world.

The first series exposed former governor of Anambra and PDP ex-vice presidential candidate, Peter Obi, who failed to declare his shell companies in tax heavens, and managed one of those companies for 14 months while he was governor.

Obi did all these are in violation of the Code of Conduct Act.

According to the newspaper, the EFCC has formally invited the PDP stalwart for interrogation on October 27.

During the newspaper investigation, Obi admitted to some of the findings, including secreting his wealth in empty companies in tax havens to dodge paying taxes in Nigeria.

But he insisted he was not aware that the law expects him to declare assets he jointly owns with his family members.

A source within the EFCC told the newspaper that the Pandora Papers revelations only served as a lead for investigators—that  “a number of issues” are now being investigated regarding Mr Obi and his offshore dealings.

Others so far exposed in the investigation include NPA MD, Mohammed Bello-Koko, and former minister and serving senator, Stella Oduah, Governor Abubakar Bagudu of Kebbi State, Governor Gboyega Oyetola of Osun, and Ogun State Governor Dapo Abiodun, and former NSA Sambo Dasuki and billionaire Leno Adesanya.

In the wake of the revelation, President Muhammadu Buhari reportedly ordered the EFCC, Nigerian Financial Intelligence Unit, and the Code of Conduct Bureau to investigate all Nigerians whose secret dealings were exposed.