– Leaked Panama Papers show that Nigerian Senate president hid some assets from Code of Conduct Bureau
– Three hidden companies registered on Toyin Saraki, his wife
– Saraki’s brother owns several companies in offshore financial havens


Internal data of the Panama-based offshore-provider, Mossack Fonseca, has exposed that at least four assets of the family of the Senate president Bukola Saraki tucked away in secret offshore territories. However, Saraki didn’t mention these assets in his declaration, as required by Nigerian laws. This disclosure could worsen his case as he battles to extricate himself from allegations of graft. Premium Times reports that a hidden London property in the name of Toyin Saraki but which was left out among the assets published by the Senate president. The undeclared property is located at #8 Whuttaker Street, Belgravia, London SW1W 8JQ. It has title number NGL802235. Apart from the hidden London property, three additional abroad assets in the name of Saraki’s wife were hidden from the Nigerian government and are missing from his declaration form. READ ALSO: James Ibori listed in Panama Papers Mrs. Saraki reportedly owns secret companies in some notorious tax havens. The first hidden asset is Girol Properties Ltd that was registered on August 25, 2004 (a year after Saraki became governor of Nigeria’s north-central state of Kwara in the British Virgin Island (BVI). Company papers show that Mrs. Saraki has 25,000 numbers of shares with a par value of US$ 1,00 each, and was appointed the first and only director of the company. The second one, Sandon Development Limited, was registered in Seychelles Island on January 12, 2011 and has Mrs. Saraki and one Babatunde Morakinyo, (a long-term personal aide and friend of Mr. Saraki) of 11 Okeme Street, Lagos, as stakeholders. The third hidden company in the name of Saraki’s wife is Landfield International Developments Ltd., a company registered in the British Virgin Islands on April 8, 2014. Apart from Saraki’s wife Laolu Saraki, his brother, also has several footprints in offshore financial havens, papers show. The younger Saraki is connected to a number of shell companies. READ ALSO: APC chief attacks Saraki for refusing to resign, blasts Fayose Laolu is sole stakeholder in some of the companies while has a joint ownership with some business partners in others. He is the owner of Polly Capital Holdings Ltd registered in Niue, a small island nation in the South Pacific Ocean. Another document showed that after some years, Laolu brought in another person as co-owner. The company is now co-owned with a certain Richard Pembroke, who has 25,000 equity shares, just like Laolu. Saraki’s wife was quizzed by the Economic and Financial Crimes Commission in relation to awards of contracts during her husband’s tenure as governor. However, the agency has not taken further actions since her interrogation, and nothing has been heard of the case since then. Saraki himself is currently facing corruption charges at the code of conduct tribunal over falsification of assets. 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.

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Read more: https://www.naij.com/787191-exposed-saraki-hiding-family-assets-panama-tax-havens.html
https://www.naij.com/787191-exposed-saraki-hiding-family-assets-panama-tax-havens.html

trouble begins