Oando boss, Tinubu, Dantata, Sijuwade others in new list of Nigerians with Offshore Shell companies
..........................................................................................................................................................


More revelations of Nigerians operating companies in the offshore tax haven Panama island have been made. Expectedly top notch businessmen are alleged to have been named among those who are involved in the shell companies. A recent addition to the name is Wale Tinubu, Tokunboh Sijuwade, Sayyu Dantata among others. Reports indicate that Tinubu’s name is not surprising as he had previously been linked with alleged fraudulent companies in Maritius used to siphon funds from Nigeria.

It raised eyebrow therefore when Last October, Oando Plc, made history for the wrong reason when it announced a loss of N184 billion in the 2014 financial year.

The loss was the biggest ever recorded by any Nigerian company according to experts.

While its shareholders bore the brunt of the bleak financial year, the company’s Group Chief Executive, Wale Tinubu, and his deputy, Omamofe Boyo, might be doing just fine as they had for years incorporated and operated a cluster of shell companies in notorious offshore jurisdictions.

Tinubu seems to be making so good a return from his shell companies that in 2008, he agreed to pay a front as much as $20,000 monthly to manage all of his offshore transactions.

Details of the offshore assets of the two top bosses at Oando Plc were among the revelations contained in the leaked massive internal data belonging to Panamanian law firm, Mossack Fonseca.

The revelations are products of an investigation, spanning over a year by the International Consortium of Investigative Journalists, German newspaper Süddeutsche Zeitung and more than 100 other global news organisations across the world.

na them them government be this