₦airaland Forum

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The International Consortium of Investigative Journalists (ICIJ) last Sunday released the “Pandora Papers,” an exposé of the financial secrets and offshore dealings of dozens of heads of state, public officials and politicians from 91 countries and territories.

Incidentally, Mr. Peter Obi, former governor of Anambra State and Vice-Presidential candidate of the PDP in last presidential election, was alleged to have been mentioned in the report.

Mr. Obi is a household name in Nigeria for his successes as both a private businessman and a politician. He remains today the most successful governor produced by Anambra State; first to serve two-terms and he left government with his heads held high.

Among many Nigerians, he is widely regarded as potential for a shot at the presidency of the country. He has also been speaking out against inefficiencies in government; proffering solutions on how to arrest the decline in accountability in public offices.

With his name allegedly listed in the papers, interest is generated; political opponents are woofing for blood and Mr. Obi’s head appears on the guillotine.

According CNN, “more than 600 journalists from 150 outlets spent two years investigating nearly 12 million confidential files — a bigger cache of documents than 2016’s Panama Papers.

The Pandora Papers reveal how unusual offshore finances and secretive wealth have infiltrated global politics. Some of the people named in the papers are major political leaders in developing or impoverished countries, such as Jordan and Kenya.”

It is worthy to note that some of the world leaders mentioned in that report, including Russian President, Vladimir Putin; former British Prime Minister, Mr. Tony Blair; King Abdullah Il bin Al-Hussien of Jordan, have all denied any wrong doing.

I have read the report published by Premium Times and I found it troubling. From the title, “Pandora Papers: Inside Peter Obi’s secret businesses – and how he broke the law”, it was obvious that Premium Times was out to rubbish Mr. Obi and damage his profile.

I am not out to defend the former governor, as he’s capable of doing so himself. However, I am worried that Premium Times has gone beyond its role to pass verdict on Mr. Obi. It described him as a man assumed to be clean and then went ahead to state, “but beyond the facade of priggish speeches and appearances, an investigation by PREMIUM TIMES has now shown that Mr. Obi is not entirely transparent in his affairs as he likes Nigerians to believe.”

This is a hatchet job meant to put the ex-governor on the spot without properly establishing he had run foul of the law. Other news outlets have equally published the papers and not one of those mentioned was as indicted as Premium Times has done of Mr. Obi. The news organization created the wrong impression of Mr. Obi and one will be right to accuse them, and rightly too, of being a tool in the hands of those rattled by Obi’s rising profile.

One cannot rule out political opponents, who are afraid of Obi’s chances ahead of the 2023 elections, using Premium Times to cut him down. By mixing news story with its opinion of the investigation, Premium Times passed judgment. This is wrong. Facts are sacred and opinions are free, and in news writing, you present the facts and leave opinion for the Opinion Pages. To infuse your opinion in a news story is wrong and on this Premium Times was judgmental.

As far as the report goes, there was no where Mr. Obi was accused of stealing government money and depositing it into the so-called ‘Shell Companies”; the investigation never said that Anambra State money was missing and was found in the account. So, Mr. Peter should not be so profiled as Premium Times has done. Even if the contrary is the case, it is still not in the place of the news organization to act as judge and jury.

What has Obi’s speeches and appearances got to do with the investigation? As far as I am concerned, Premium Times saw this report as an opportunity to ‘nail’ Obi, on whose behalf, I do not know. But it is in bad taste. You don’t editorialize in a news story.

Mr. Peter was a successful business man before he ventured into politics. His curriculum vitae is intimidating. His success in whatever capacity he had participated remains a reference point. Naturally, he is a marked man.

Premium Times was not fair to Mr. Obi and on that score, I fault the publication and see it as a hatchet job and witch-hunting.

https://authorityngr.com/2021/10/06/peter-obi-premium-times-witch-hunt-and-journalism/

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A.nother

P.ilfering

C.onception

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P.eople

D.ey

P.erish

Lack of planning!

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How much?

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No shaking.....

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Operation "Ethnic Cleansing"

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Since when was it the Armies job to track down criminals?

A.nother

P.henominal

C.rime!

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Willie messed up......

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He should have driven himself there in a fairly used vehicle with no security along Onitsha - Enugu expressway (or old rd)

Lala!

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Internal Hack....?


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Wetin they no hack today?


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Let me check my balances to see if any remain......

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Last price?

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Twitter has fallen?

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VAT: Adamawa, Kaduna, Plateau States Set To Join FIRS In Legal Battle Against Lagos, Rivers

The Attorney General of the Federation (AGF) and the governments of Adamawa, Plateau, and Kaduna states are set to join the Federal Inland Revenue Service (FIRS) in its appeal against the judgment of the Federal High Court in Port Harcourt that empowered Rivers State to collect Value Added Tax (VAT).

The trial court had in the judgement ruled against the FIRS in the tax collection tussle and ordered that the Rivers State Government was the rightful collector of the tax among others.

The FIRS had challenged the judgment at the Court of Appeal seeking that the High court’s verdict be set aside.

However, sources close to the AGF at the weekend, disclosed that the three states would file a leave of the court to be joined in the suit on Tuesday.

Although the AGF is already a defendant in the appeal, the source hinted that the Federal Ministry of Justice, under the AGF has opted to be part of the appellant in the matter so as to enable it to argue effectively in support of the FIRS.

“They are going to seek to be joined in the suit as co-appellants against the federal high court’s judgment that favours Rivers State.

“These states understand the possible consequences if the final judgment at the Supreme Court goes against the FIRS. They are going to take the fight as if it is theirs,” the source stated.

The source also added that more states, especially Kogi and Zamfara are going to be joining the suit to form a coalition with the FIRS.

However, Dr Jibrill Umar Gwandu, Senior Special Assistant to the AGF, Abubakar Malami (SAN) could not be reached for comment at the time of filing this report.

The decision of the three states is coming on the heels of the communique released by the Northern State Governors’ Forum last week where they expressed dissent and disagreement with the VAT laws of Lagos and Rivers states.


https://tribuneonlineng.com/vat-adamawa-kaduna-plateau-states-set-to-join-firs-in-legal-battle-against-lagos-rivers/

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Buhari's reaction

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The International Monetary Fund (IMF) has renewed its call against the adoption of Bitcoin and other cryptocurrencies, citing economic risk among others.

In a statement issued on October 1 and seen by Ripples Nigeria on Sunday, IMF admitted that cryptocurrencies improve access to finance but the challenges and risk tied to the unregulated digital asset are higher than the advantages.

The Bretton Woods institution listed quick and easy payments and inclusive access to previously “unbanked” parts of the world as part of the new opportunities in the crypto ecosystem.

It said crypto assets such as Bitcoin, Ethereum, Ripples, Doge, and other stables coins could aid money laundering and terrorism financing, adding that the anonymity it offers create regulatory problems.

IMF said: “The (pseudo) anonymity of crypto assets also creates data gaps for regulators and can open unwanted doors for money laundering as well as terror financing.

“Although authorities may be able to trace illicit transactions, they may not be able to identify the parties to such transactions. Additionally, the crypto ecosystem falls under different regulatory frameworks in different countries, making coordination more challenging.

“For example, most transactions on crypto exchanges happen through entities that operate primarily in offshore financial centers. This makes supervision and enforcement not only challenging, but nearly impossible without international collaboration.”

While picking out the problems of cryptocurrency usage, IMF said many entities issuing stable coins do not have a dependable operational structure, prone to hackers and causing users to lose their funds invested in the assets.

“Many of these entities lack strong operational, governance, and risk practices. Crypto exchanges, for instance have faced significant disruptions during periods of market turbulence.

“There are also several high-profile cases of hacking-related thefts of customer funds. So far, these incidents have not had a significant impact on financial stability. However, as crypto assets become more mainstream, their importance in terms of potential implications for the wider economy is set to increase,” it added.

https://www.ripplesnigeria.com/why-cryptocurrencies-pose-great-risk-to-the-economy-imf/

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Kenya (Kenyatta's) exposed:


https://www.youtube.com/watch?v=NoOZH7gwAcU&ab_channel=AfricaUncensored

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Pandora Papers: Global investigation exposes secrets of some of Nigeria’s rich and powerful

A new global investigation exposing the offshore hideaways of some of the world’s most powerful personalities is launching today after two years of discreet work by investigative journalists around the world.

The project, known as Pandora Papers, is facilitated by the International Consortium of Investigative Journalists (ICIJ), which obtained a trove of 11.9 million confidential files. The reporting, which is still ongoing, involves more than 600 journalists from 150 news organisations around the world.

The journalists spent two years studying and sorting files, contextualising information, tracking down sources and analysing public records and other documents.

The collaboration has so far revealed the financial secrets of not less than 35 current and former world leaders, more than 330 public officials in more than 91 countries and territories.

The leaked files were retrieved from 14 offshore services firms around the world that set up shell companies and other offshore entities for clients, many of them influential politicians, businesspersons and criminals, seeking to conceal their financial dealings.

PREMIUM TIMES is the only Nigerian newspaper participating in what has now been dubbed the biggest journalism partnership in history.

The stories we will publish in the days to come will reveal how some of the most influential Nigerians – a former Chief Justice of Nigeria, current and former state governors, past and present lawmakers, businesspeople, a popular pastor and many others – set up shell companies, and sometimes warehouse huge financial assets, in notorious secrecy jurisdictions.

Our stories will also show how some of these individuals flout extant laws and legislations as they hide these assets, some of which have attracted the interest of law enforcement agencies in the UK and elsewhere.

In an era of widening authoritarianism and inequality, ICIJ said “the Pandora Papers investigation provides an unequalled perspective on how money and power operate in the 21st century — and how the rule of law has been bent and broken around the world by a system of financial secrecy enabled by the U.S. and other wealthy nations.”

“In popular imagination, the offshore system is often seen as a far-flung scattering of palm-shaded islands. The Pandora Papers show that the offshore money machine operates in every corner of the world, including financial capitals of the richest and most powerful economies,” the ICIJ added.

Globally, the Pandora Papers investigation will reveal the secret owners of offshore companies, anonymous bank accounts, private jets, yachts, mansions, and artworks by Picasso, Banksy, and other masters.

“It provides more information than what’s usually available to law enforcement agencies and cash-strapped governments,” the ICIJ said.

“Large numbers of public officials and mega-wealthy individuals — who in some cases are one and the same — use the offshore system to manage, move and, often, hide their wealth. They play by different rules from the rest of humanity, in a game of intrigue and privilege that fuels crime and corruption and entrenches the power of the world’s economic and political elites.

“The Pandora Papers investigation is larger and more global than even ICIJ’s landmark Panama Papers investigation, which rocked the world in 2016, spawning police raids and new laws in dozens of countries and the fall of prime ministers in Iceland and Pakistan.

“The Panama Papers came from the files of a single offshore services provider: the Panamanian law firm Mossack Fonseca. The Pandora Papers shine a light on a far wider cross-section of the lawyers, middlemen and fixers who are at the heart of the offshore industry.


“The Pandora Papers lay bare the finances of many more country leaders and public officials than did the Panama Papers and provide more than twice as much information about the ownership of offshore companies. In all, the new leaks uncover the real owners of more than 29,000 offshore companies the owners come from more than 200 countries, with the largest contingents from Russia, the U.K., Argentina, China and Brazil.”

The Pandora Papers Vs Panama Papers
The Pandora Papers series is launching more than five years after the Panama Papers revelations, which were published in 2016. That investigation exposed offshore companies linked to more than 140 politicians in more than 50 countries – including 14 world leaders.

It also uncovered offshore hideaways tied to mega-banks, corporate bribery scandals, drug kingpins, Syria’s air war on its own citizens and a network of people close to Russian President Vladimir Putin who shuffled as much as $2 billion around the world.

In the course of that investigation in Nigeria, PREMIUM TIMES published more than 30 stories, with damning details revealing the secret offshore asset of many prominent Nigerians.

It is not illegal for Nigerians who are not public officers to own offshore accounts, and many prominent businesses do have them. However, some public officials found to have accounts did not disclose them as expected by law.

This newspaper’s investigations revealed the secret offshore assets of Senate President Bukola Saraki and his wife Toyin; as well as those of Mr Saraki’s predecessor, David Mark.

It also revealed how the late governor of Bayelsa State, Diepreye Alamieyeseigha, began looting his state and hiding public funds in offshore structures and how a former governor of Delta State, James Ibori, organised the stealing of the oil-rich state’s fund via offshore companies.

The investigations also revealed a network of shell companies in offshore tax havens linked to Africa’s richest man, Aliko Dangote, and his brother, Sayyu Dantata; as well as the offshore companies of Wale Tinubu, the chief executive of Nigeria’s biggest indigenous oil company, Oando Plc, among others.

Similarly, the stories also exposed the secret offshore company of one of Africa’s most influential televangelists, Temitope Joshua, popularly called T.B Joshua, who died in June.

Other prominent Nigerians named in the investigations were former Minister of Defence and billionaire businessman, Theophilus Danjuma; Businessman, Hakeem Bello Osaigie; Globacom CEO, Mike Adenuga; Governor Abubakar Sadiq Sani Bello of Niger State; the late Ooni of Ife, Okunade Sijuwade; former Arik Air Chairman, Joseph Arumemi-Johnson and his wife, Mary, as well as two then-serving senators – Andy Uba (Anambra) and Ibrahim Gobir (Sokoto).

Other top business persons, politicians, and their family members were also found in the infamous database, including those who were then holding public offices.

The revelations sparked outrage across Nigeria, with activists, civil society organisations, the labour movement and the general public calling for extensive probes of those mentioned. But none of the violators has so far been prosecuted or sanctioned.

“The Pandora Papers series will be even more revealing,” Nicholas Ibekwe, PREMIUM TIMES head of investigations, said. “We hope the Nigerian authorities will take appropriate actions this time around to sanction those proven to have violated our laws.

”

https://www.premiumtimesng.com/news/headlines/487959-pandora-papers-global-investigation-exposes-secrets-of-some-of-nigerias-rich-and-powerful.html

Japa be dat........

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Farewell...