Report: How Peter Obi as Anambra governor failed to declare assets kept in tax havens
Peter Obi, former governor of Anambra state, kept secret assets in tax havens, a series of leaked documents has shown.
The leaked files which were retrieved from 14 offshore services firms around the world were revealed in a Pandora Papers project led by the International Consortium of Investigative Journalists (ICIJ), and which Premium Times is a part of.
In his response, the former governor told Premium Times: “I don’t declare what is owned with others. If my family owns something I won’t declare it. I didn’t declare anything I jointly owed with anyone.”
In 2010, more than four years after Obi became governor, he reportedly set up his first discreet company in the British Virgin Island, and named the company Gabriella Investments Limited, after his daughter.
To set up what has now become a convoluted business structure, Obi, Premium Times reported first approached Acces International, a secrecy enabler in Monaco, France, to help him incorporate an offshore entity in one of the world’s most notorious tax havens noted for providing conduits for wealthy and privileged corrupt political elites to hide stolen cash.
According to the newspaper, Obi also paid Acces International to provide nominee directors for the company — these directors are residents of tax havens paid to sit on boards of companies to hide the identities of real owners of offshore firms.
Acces International officials, who reportedly took briefs from Obi and or his representatives, headed to the British Virgin Island where they contracted a local registered agent – Aleman Cordero Galindo & Lee Trust (BVI) Limited (Alcogal) — to set up Gabriella Investments Limited for the former governor.
Is there any more wicked rogue politician than Tinubu, who begged Buhari out of retirement to make Jonathan a one term president after his party invited terrorists to destroy our country?
anonimi: What group of politicians is more wicked than A-looter Propaganda Conmen, APC
slivertongue: You destroyed the existing standard of living you met
I hope that Atiku will make a better Independence day speech, reminding us of how life was much better under PDP for 16 years of:
- cheap petrol, - less debt & tax burden, - widespread prosperity - less inflation - less unemployment - less corruption - better roads
anonimi: "Tinubu made living in Nigeria expensive. I will make Nigeria affordable again" - Alhaji Atiku Abubakar
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Nemere2020: The Minister of Finance and Coordinating Minister of the Economy Chief Olawale Edun has said the last time Nigeria’s economy looked stable was about a decade ago.
He made this statement during his maiden press conference as Minister of Finance where he outlined President Bola Tinubu’s vision, agenda and strategy for the economy.
He said, “I think as we all know, we are not where we should be. The economy is barely growing above the rate of population growth.
“But it was not always so, and I think in trying to look at the way forward, if we now have a situation of slow growth, double-digit inflation, weak/depreciating exchange rate, as well as security concerns that are resulting in an economy that is not growing and not taking Nigerians out of poverty.
“If we think back to the last time when the economy was stable- when it was growing, when inflation was low, and the interest rate was affordable, that period was about a decade ago. Growth was about 6% in 2013 and 2014.”
Nigeria loses 47% of dollar millionaires, retains 4th position in Africa
Nigeria has lost nearly half of its dollar millionaires over the past decade, with the population of high-net-worth individuals falling by 47 per cent between 2015 and 2025, according to the 2025 Africa Wealth Report by Henley & Partners in collaboration with New World Wealth.
Despite the sharp erosion in private wealth, Nigeria retained its position as Africa’s fourth-largest hub for dollar millionaires, with 7,200 millionaires, 20 centi-millionaires (individuals with investable wealth of at least $100 million) and three billionaires, trailing only South Africa, Egypt and Morocco.
The report showed that South Africa remained the continent’s wealthiest country by number of dollar millionaires, with 41,100 millionaires, 112 centi-millionaires and eight billionaires. Egypt followed with 14,800 millionaires, 49 centi-millionaires and seven billionaires.
anonimi: Nigeria remains fourth largest economy in Africa despite rebasing
July 21, 2025
Nigeria has retained its status as the fourth largest economy in Africa despite a rebasing exercise that expanded the country’s gross domestic product (GDP).
The National Bureau of Statistics (NBS) announced that the economy expanded to N372.8 trillion ($243 billion) in 2024, down from N314.02 trillion in the prior year as more sectors in the informal economy were considered in its calculations.
The statistics bureau adopted 2019 as its base year away from 2010 that’s previously reported.
The rebasing exercise covers the period from 2019 to 2023 and reflects changes in the economy’s structure, sectoral contributions, and data sources.
Despite the overhaul, Nigeria fails to reclaim its erstwhile status as the largest economy in Africa.
According to the International Monetary Fund (IMF), South Africa remains the continent’s biggest economy with a GDP of $410.34 billion for a country with little over a quarter of Nigeria’s population.
Following the Southern African nation is Egypt with a GDP of $347 billion while Algeria maintains its third position having $268.9 billion as the size of its economy.
Although Nigeria’s economy grew 30 percent above the projected $188 billion estimate by the IMF this year, the rebasing was poised to place the economy as the biggest in Africa.
iwaeda: Our reforms did not create the weaknesses in our economy. They confronted them. Now, as certain influential but regressive voices would have us abandon the treatment and return ourselves to the abuse of addictive subsidies,
Will Jagaban of Borgu and master strategist of balablu bulaba A-looter Propaganda Conmen, APC ever stop telling lies
Why is he still paying subsidy illegally under a new name to Malta blending plant owners and selling petrol so expensive to destroy Dangote and our economy with stagflation extreme poverty?
anonimi: NNPCL’s subsidy payment jump by 47.9% to N7.1trn in 2024
November 26, 2025
The Nigerian National Petroleum Company Limited (NNPCL) paid a total of N7.1 trillion as subsidy for premium motor spirit (PMS) in 2024, this sum represents a 47.9 percent increase from N4.8 trillion recorded in 2023.
This is despite the government’s announcement of subsidy removal in 2023.
The company explained that the amount, which it termed ‘energy security expense’ arises when there is differential between the exchange rate used to freeze the premium motor spirit ex-coastal price and the prevailing rate at the point of import settlement.
According to the report, government had instructed that NNPC Limited cannot sell its PMS above a certain regulated price. It added that the cost of petrol import is usually much higher that the regulated price.
Vision101: Loans aren't for those that can afford to pay. I have no business taking loan to buy a car or a house when I can outrightly pay from my pocket. No indigent student can afford private university fees. Nelfund is not free money. Students from comfortable homes in public universities are not taking nelfund. Most public primary and secondary schools are tuition free why not ask the government to pay the tuition of those in private schools. Reexamine your reasoning.
Public primary and secondary schools that are less than 5% even in almighty progreThief Lagos?
Are you not the one who needs to reexamine your Stockholm syndrome reasoning?
Any idea why APC progreThief governors have failed to employ enough well paid teachers to make basic education free for all children? Their failure is despite 27 years of Obasanjo/ Atiku's UBEC matching federal funds to help states achieve nine years free & compulsory education for all children.
PREMIUM TIMES visited schools that the state government claimed to have rehabilitated and found decrepit and inadequate facilities.
Governor Dapo Abiodun said last year that over 400 primary and secondary schools have been renovated in Ogun State under his administration.
However, when PREMIUM TIMES late in 2022 toured the three senatorial districts of the state, our reporter found facilities in many public schools still in deplorable conditions.
The renovation project was executed with a N10.2 billion fund jointly contributed, equally, by the Universal Basic Education Commission (UBEC) and the state government.
UBEC released its share of the fund to the state government in 2019 to address infrastructural decay and inadequate facilities in 236 public schools across the state.
Vision101: Do they know this? What they ask is how much is a bag of rice? They care less about the variables. This is the effect managing poverty for too long through subsidy rather than fighting poverty.
The irony of Tinubu's stagflation reform is that he continues paying subsidy illegally under a different name to fuel importers from their Malta blending plants while petrol price is still sky high, contrary to his campaign promise to crash it below N185.
Is APC extreme poverty worse or better now?
Do you know what he is doing with billions of dollars subsidy savings apart from stealing it
lionshare: I think this is rather a confirmation of the current inflation trajectory higher/growing inventory means more supply in the market which should translate to more competitive prices for the consumers.
If growing inventory value is due to inflation, how does it mean more supply VOLUME in the market for more competitive prices?
Rayjay45: "While the Nigerian economy is growing, monetary policy is stable, and customer deposits across all sectors soar," Is this emboldened one of those bulaaba APC propaganda or some idiotic expression by the writer? Biko, how customer deposits dey grow when "Ebi n pami' is the voice on the streets? Make dem dey pad these figures dey go. Banks learned so well from the FG.
Me sef dey wonder o, since the Oga at the top assessed himself as a gross failure in all areas of national life
anonimi: May Day: Hunger, unemployment, insecurity real— Tinubu
According to him: “The theme demands our collective attention and serves as a stark reminder of the need to create an environment where every worker feels safe, valued, and empowered to contribute to the growth and prosperity of our nation. As your President, I assure you that this administration is committed to creating such an environment for the common good.”
On the economic hardship, he noted that while it is a global phenomenon, its effects on Nigerians are particularly severe.
Tinubu said: “I am aware of the peculiarities of the economic hardship Nigerians face—rising living costs, hunger, insecurity, unemployment, and the loss of livelihoods. These challenges are real and demand definitive solutions, which I am poised to address as your President.
Nigeria loses 47% of dollar millionaires, retains 4th position in Africa
Nigeria has lost nearly half of its dollar millionaires over the past decade, with the population of high-net-worth individuals falling by 47 per cent between 2015 and 2025, according to the 2025 Africa Wealth Report by Henley & Partners in collaboration with New World Wealth.
Despite the sharp erosion in private wealth, Nigeria retained its position as Africa’s fourth-largest hub for dollar millionaires, with 7,200 millionaires, 20 centi-millionaires (individuals with investable wealth of at least $100 million) and three billionaires, trailing only South Africa, Egypt and Morocco.
The report showed that South Africa remained the continent’s wealthiest country by number of dollar millionaires, with 41,100 millionaires, 112 centi-millionaires and eight billionaires. Egypt followed with 14,800 millionaires, 49 centi-millionaires and seven billionaires.
For you to mention your age, I reckon you find it rather disturbing that you're running out of time to get hooked up. You'd be 30 next year and yet to find someone you 'adore'.
If you're unable to reciprocate kind gestures (or translations of love), what is the guarantee that someone you'd eventually fall in love with would do same?
There are no certainties in life. It's good to hope and cast thoughts positively. However, know that those who make the best decisions are those that are able to manipulate current events to their advantage.
14 years later, at 43 years old I wonder how the OP, rebsy feels about this issue of 2012.
Imalwayshorny: Already enjoying in my area tinubu till 2031
You must be one of the 150 million Nigerians that Adelabu Pẹnkẹlẹmẹs said are enjoying adequate power that Buhari, Fashola and APC change chanters promised 11 years ago, to make us vote out PDP cheap petrol, less debt and tax burden, prosperity, peace and security.
Jayhome24: Pls what do you want him to do? When a son is so cocl headed, calm and very respectful their is no way his dad won love him and their is no way he won't love his dad unlike those using karate to wake their papa from the bed every morning and unlike one efu his son is a sodomite advertising himself at the back of LGBTQ magazine...
Seyi you are a son every father want I'm so so proud of you.
Are you also proud of his father for being a propagandist liar, who made Nigeria worse than his clueless predecessor
Minister of Finance and Coordinating Minister for the Economy, Mr. Wale Edun made this known at the end of the inaugural Federal Executive Council meeting in Abuja. Mr. Edun said that the benefit of the subsidy removal will be plough back into various sectors to improve business environment for local and foreign investment. He added that with the increased revenue from subsidy removal, various palliatives have been made available to cushion its effect on a short, medium and long-term basis.
Ofunaofu: Report: Current Govt Added More Debt in Two Years Than Nigeria Accumulated in 55 Years
• Decries Nigeria’s debt service-to-revenue ratio
•Urges FG to declare fiscal emergency
A new policy brief has warned that Nigeria’s worsening debt profile and weak revenue generation have pushed the country into a dangerous fiscal position, with the current administration accumulating more debt in two years than Nigeria recorded during its first 55 years after independence.
The report, released by the Alliance for Economic Research and Ethics LTD/GTE, a Nigerian policy think tank, argued that the country’s debt crisis has evolved into a governance and revenue emergency, as debt servicing obligations now exceed the federal government’s retained earnings. > > According to the think tank, Nigeria’s public debt rose sharply from N87.38 trillion in June 2023 to N159.28 trillion by the end of 2025, with President Bola Tinubu’s administration accounting for about N65.9 trillion of the increase within its first two years in office.
The organisation in the brief titled: “Nigeria Is Borrowing to Breathe—and the Clock Is Ticking”, noted that Nigeria accumulated only about N12.06 trillion in debt from independence in 1960 up to 2015, meaning the current administration added more than five times that amount in just 24 months.
The report stated that while previous governments also contributed significantly to the country’s rising debt burden, the speed of accumulation under the current administration had intensified concerns over fiscal sustainability.
“President Bola Tinubu’s administration has added a further N65.9 trillion in just two years. To put that in perspective: it took Nigeria’s first 55 years of independence to accumulate N12 trillion in debt. The current administration has added more than five times that amount in 24 months,” it argued.
It recalled that Nigeria briefly became almost debt-free externally after the administration of former President Olusegun Obasanjo secured an $18 billion Paris Club debt relief package in 2005 and paid $12 billion to extinguish about $30 billion in external obligations.
tuoyoojo: Any opposition against tulumbu is always hung on obidents This time tulumbu has been tested, and the have seen that he has nothing to offer The only thing that tulumbu is banking on is to share tippex to inec staff for them to cancel the people wish But this time we nor go gree Kwakwasiya model
Was Buhari not tested in his first term and was reelected despite his failure?
Has Tinubu not been tested in Lagos since 1999, and is winning elections despite stealing money that should employ well paid workers to make services and utilities available for all?
Why share Tippex to INEC staff when he can share rice, beans and Remi’s akara to easily make us vote for him?
HacheNoire: Few miscreants among multitudes! How about the majority who took time to come out and welcome the Demigod- His Excellency, President Asiwaju Bola Ahmed Tinubu (GCFR) with praises? If these are the straws the opposition is holding unto, then defeat is guaranteed!
Demigod àwọn Stockholm Syndrome sufferers, àbí demigod àwọn wo níyẹn?
professorPABX: The reason why some particular people worked so hard to blackmail DANGOTE Refinery's IPO on different Social Media platforms is known to some of us. They went all out against the IPO as if they are fighting the battle of their lives. On nairaland and on different Social Media platforms I always tell them DANGOTE is not doing competition with anybody. DANGOTE suffered under Goodluck Jonathan.Umaru YARADUA allowed it because he wanted to build a political base by destroying OBASANJO Political Base that brought him to power. By so doing, the economy OBASANJO built through DANGOTE and other indigenous corporations was gradually being destroyed. After his death when Goodluck Jonathan fully settled down, he completely moved against the indigenous corporations by creating Import based economy using the Money OBASANJO saved in Foreign Reserve and high crude oil price. Everybody including IBETO knows that immediately BUHARI enters, that would be the end of that Cement Deal. I thank God OBASANJO is still alive to be at Kenya. Oonirisa also tried by being at Kenya despite just finishing OLOJO festival. Seun, please, don't allow your moderators to delete this post and suspend me. Thanks.
How did Dangote suffer under Jonathan when he was the one who licensed his refinery?
Please make it make sense.
How did Jonathan create an import based economy, yet grew the GDP to the biggest in Africa and stabilised all relevant indicators?
Are you sure you know what you are talking about sir
thisweekng: The Minister of Finance and Coordinating Minister of the Economy Chief Olawale Edun has said the last time Nigeria’s economy looked stable was about a decade ago.
He made this statement during his maiden press conference as Minister of Finance where he outlined President Bola Tinubu’s vision, agenda and strategy for the economy.
He said, “I think as we all know, we are not where we should be. The economy is barely growing above the rate of population growth.
“But it was not always so, and I think in trying to look at the way forward, if we now have a situation of slow growth, double-digit inflation, weak/depreciating exchange rate, as well as security concerns that are resulting in an economy that is not growing and not taking Nigerians out of poverty.
“If we think back to the last time when the economy was stable- when it was growing, when inflation was low, and the interest rate was affordable, that period was about a decade ago. Growth was about 6% in 2013 and 2014.” Private sector to drive the economy
iwaeda: Good for Africa, but bad for Nigeria. Dangote fuel will be cheaper in Kenya than Nigeria.
Is it bad for our country because Tinubu pays subsidy illegally under a new name, more than previous presidents but sells petrol more expensive than those who paid less subsidy?
The worst part is how he pays subsidy to importers of fuel from their Malta blending plants in his desperate attempt to destroy Dangote.
anonimi: NNPCL’s subsidy payment jump by 47.9% to N7.1trn in 2024
November 26, 2025
The Nigerian National Petroleum Company Limited (NNPCL) paid a total of N7.1 trillion as subsidy for premium motor spirit (PMS) in 2024, this sum represents a 47.9 percent increase from N4.8 trillion recorded in 2023.
This is despite the government’s announcement of subsidy removal in 2023.
The company explained that the amount, which it termed ‘energy security expense’ arises when there is differential between the exchange rate used to freeze the premium motor spirit ex-coastal price and the prevailing rate at the point of import settlement.
According to the report, government had instructed that NNPC Limited cannot sell its PMS above a certain regulated price. It added that the cost of petrol import is usually much higher that the regulated price.
HacheNoire: Our ancestors and the God of our land should protect Dangote I don’t want to hear Dangote has weapon of mass destruction in the future. Cos some quarters are fvckin bitter right now and will even say he is sponsoring Christian genocide. Nigeria to the world 🔥🔥🔥 BUA loading……
Indeed he needs protection from wicked people like Jagaban of Borgu who is doing everything to destroy the PDP licensed private refinery, which almost never happened because APC leaders looters played politics with our wellbeing, using Tunde Bakare to protest the 2012 fuel deregulation.
HenryThegreat1: Aliko Dangote, the president of Dangote Industries Limited (DIL) has strongly refuted allegations by the Nigerian Midstream and Downstream Petroleum Regulatory Agency (NMDPRA), insisting its diesel is 80percent superior to those currently imported into Nigeria.
The richest man in Africa said this Saturday while showing members of the House of Reps the company’s facilities.
“Until late last year, diesel imports into Nigeria were up to 7,000 parts per million (ppm) of Sulphur which has been going on for many years. Our diesel is produced currently at significantly lower levels of Sulphur; as such, we find baseless the allegation that the reason for the reduction is linked to quality. What we are producing is 80 percent of what is being imported into the country,” Anthony Chiejine, the company’s spokesperson Dangote Industries Limited said.
Read also: Explainer: Separating fact from fiction in NMDPRA’s claims against Dangote refinery
“Another inaccurate assertion is that Medium Level Sulphur diesel is meant for off-road use. This is a completely false statement as this would have invariably meant that all the imports for the last 20 years have been damaging equipment.
“Thirdly, diesel imports for the high Sulphur grade have been at significantly higher prices until we started operation. If indeed high Sulphur diesel is sold at lower prices how come we never saw the lower prices until now?” the spokesperson said.
Read also: Dangote refinery not yet licensed to operate in Nigeria-NMDPRA
Related NewsInsecurity, oil theft: Nigerians demand results not endless rhetoricWrong diagnosis killing many patients in Nigerian hospitalsHigh electricity tariff crushing Nigerian public varsities
Dangote proved through a laboratory test before members of the House of Reps, led by Tajudeen Abbas how the sulphur content of its diesel is within acceptable range in Africa and better than some of diesel currently available in the country.
Dangote diesel currently contains 87.6 ppm
For instance, Dangote’s laboratory officials tested diesel products from two major retail outlets in Nigeria – TotalEnergies and Matrix – against the sample produced by Dangote Refinery.
The test was carried out using a ED-XRF Spectro Photometer, using the ASTM D4294 method.
The sample from TotalEnergies’s diesel showed 1,829ppm sulphur concentration. The sample from Matrix retail showed 2,2752.8682ppm sulphur concentration while the diesel sample from Dangote Refinery showed 87.6ppm sulphur concentration.
Targets 10ppm sulphur content August
“By the end of next week, we should be on 50ppm and by August, it should be down to 10ppm,” Dangote said.
BusinessDay’s findings showed the minimum global standard is 50ppm, while 200ppm is still acceptable in Africa till the end of the year.
On Thursday, July 18, Farouk Ahmed, chief executive officer of NMDPRA alleged Dangote refinery as well as some major refineries like Waltersmith refinery, produce between 650 to 1200 ppm.
NaijaNaWaa: I wonder why they always sound upright after service? Where was he when the Supreme Court turned the constitution on its head to uphold Tinubu's highly rigged 2023 victory?
Why are you confusing Tinubu with Obi in the rigging of the last elections?
How do the result of the 5 SE states compare with those of the 6 SW states
adenigga: “Why should a politician send a ram, cow or other items to a Supreme Court Justice? It is unheard of in other countries.
What of the wicked ologogoro who builds houses for them and brags about the compromised result of the judiciary
iwaeda: Wike Boasts Of Helping APC Use Judiciary To Kill Osun LG Funds Case, Warns Party Leaders Against Ingratitude
Minister of the Federal Capital Territory (FCT), Nyesom Wike, has openly boasted that he assisted certain elements within the ruling All Progressives Congress (APC) in deploying the judiciary to frustrate the Osun State local government allocation lawsuit.
In a video now circulating widely on social media and obtained by SaharaReporters, Wike made the claim while addressing a crowd in Port Harcourt, Rivers State.
The former Rivers governor accused the APC National Secretary, Senator Ajibola Basiru, of benefitting from judicial actions against the Osun State Government without knowing those who did the work behind the scenes.
The suit in question led to the withholding of local government funds in Osun State, a development widely seen as targeting the administration of Governor Ademola Adeleke as opposition in the state.
Wike, who spoke angrily, suggested that the court action supporting the APC’s position against the Osun government did not happen by chance, boasting that powerful political forces worked quietly to ensure the outcome.
“Don’t take our support for Mr President for granted,” Wike warned, in an apparent message to APC leaders defending Rivers State Governor Siminalayi Fubara. “You have to be careful about the statements you make. You have to be very careful.”
He accused Basiru of political ingratitude, claiming the APC was enjoying in Osun State without understanding who engineered their advantage.
“Today, you are enjoying in Osun. You don’t know those who did the work,” Wike said. “You are opening your mouth to talk about Rivers State.”
Obiedun: Story teller, you do well. You are disturbing the peace of the country
Can anyone disturb the peace of Nigeria than the Guinean Jagaban of Borgu, who begged Buhari to make Jonathan a one term president after their party invited terrorists to destroy our country
Politics › Re: Trending Video Of NDC Ward Meeting In Kano That Has Got People Asking Questions by anonimi: 10:03am On Oct 01
