₦airaland Forum

kenny1795:
Intelligent people are rare. Good one bro

jeytee:
Very true...but this is the mentality of most Nigerian youths

jeytee:
After the stress people go through to graduate...unemployment sit down dai smoke cigar dai wait them...na wa

#8. How big is it?

Mossack Fonseca is the world’s fourth biggest provider of offshore services. It has acted for more than 300,000 companies.

There is a strong UK connection. More than half of the companies are registered in British-administered tax havens, as well as in the UK itself.

#9.How do tax havens work?

Although there are legitimate ways of using tax havens, most of what has been going on is about hiding the true owners of money, the origin of the money and avoiding paying tax on the money.
Some of the main allegations centre on the creation of shell companies, that have the outward appearance of being legitimate businesses, but are just empty shells. They do nothing but manage money, while hiding who owns it

#10. What does Mossack Fonseca say about the leak?

The firm won’t discuss specific cases of alleged wrongdoing, citing client confidentiality. But it robustly defends its conduct. Mossack Fonseca says it complies with anti-money-laundering laws and carries out thorough due diligence on all its clients. It says it regrets any misuse of its services and tries actively to prevent it. The firm says it cannot be blamed for failings by intermediaries, who include banks, law firms and accountants.

#4.What is Mossack Fonseca?

It is a Panama-based law firm whose services include incorporating companies in offshore jurisdictions such as the British Virgin Islands. It administers offshore firms for a yearly fee. Other services include wealth management.

#5.Who is in the papers?

There are links to 12 current or former heads of state and government in the data, including dictators accused of looting their own countries.
More than 60 relatives and associates of heads of state and other politicians are also implicated. The files also reveal a suspected billion-dollar money laundering ring involving close associates of Russia's President, Vladimir Putin.

Also mentioned are the brother-in-law of China's President Xi Jinping; Ukraine President Petro Poroshenko; Argentina President Mauricio Macri; the late father of UK Prime Minister David Cameron and three of the four children of Pakistan's Prime Minister Nawaz Sharif.

The documents show that Iceland's Prime Minister, Sigmundur Gunnlaugsson, had an undeclared interest linked to his wife's wealth. He has now resigned.

The scandal also touches football's world governing body, Fifa. Part of the documents suggest that a key member of Fifa's ethics committee, Uruguayan lawyer Juan Pedro Damiani, and his firm provided legal assistance for at least seven offshore companies linked to a former Fifa vice-president arrested last May as part of the US inquiry into football corruption.

The leak has also revealed that more than 500 banks, including their subsidiaries and branches, registered nearly 15,600 shell companies with Mossack Fonseca.

Lenders have denied allegations that they are helping clients to avoid tax by using complicated offshore arrangements.

#6. How can I read the papers?

So far, a searchable archive is not available at the moment. There is a huge amount of data, and much of it reportedly includes personal information (including passport details), and does not necessarily include those suspected of criminal activity. Having said that, there is plenty of information out there. The ICIJ has put together a comprehensive list of the main figures implicated here - you can also search by country.
You can sign up on the ICIJ's website for any major updates on the Panama Papers here (https://panamapapers.icij.org/the_power_players/).

#7.The hidden owners

Where does the money flowing offshore come from? The information is hard to discover because real owners usually hide behind nominees, people with no real control and no assets in the company who simply lend their signature. A small sample of about 13,000 owners from all over the world, recently compiled by Mossack Fonseca, gives some indication. China and Russia top the list.

# 1. What are Panama Papers?
The Panama Papers are an unprecedented leak of 11.5m files from the database of the world’s fourth biggest offshore law firm, Mossack Fonseca. The records were obtained from an anonymous source by the German newspaper Süddeutsche Zeitung, which shared them with the International Consortium of Investigative Journalists (ICIJ). The ICIJ then shared them with a large network of international partners, including the Guardian and the BBC.

The files show how Mossack Fonseca clients were able to launder money, dodge sanctions and avoid tax.

#2. What are Offshore Banks / Accounts?
Offshore bank accounts and other financial dealings in another country can be used to evade regulatory oversight or tax obligations. Often, companies or individuals use shell companies, initially incorporated without significant assets or operations, to disguise ownership or other information about the funds involved.

An offshore bank is a bank located outside the country of residence of the depositor. Typically, an individual or company will use an offshore bank in a low-tax jurisdiction (or tax haven) that provides financial and legal advantages. These advantages typically include:

greater privacy (see also bank secrecy, a principle born with the 1934 Swiss Banking Act)
little or no taxation (i.e. tax havens)
easy access to deposits (at least in terms of regulation)
protection against local, political, or financial instability

#3. What do the Panama Papers reveal?
An investigation published by an international coalition of more than 100 media outlets, based on 11.5 million records of offshore holdings, details how politicians, celebrities and other famous people use banks, law firms and offshore shell companies to hide their assets.

The International Consortium of Investigative Journalism, a nonprofit organization based in Washington, said an anonymous source provided internal documents from the Panama-based law firm Mossack Fonseca, one of the world's biggest creators of shell companies. Ramon Fonseca, a co-founder of Mossack Fonseca, said the documents were obtained illegally by hacking but confirmed that many of them were real. He denied his firm has engaged in any wrongdoing.

ugovivy:
it was just like a film to me ,wen my fiancee became jealous over a stuff his male neighbor bought for me,is not like I didn't tell him about that stuff but because of over jealousy,he started beating me and calling me all sorts of names,and he really beat hell out my body,saying i shouldnt have collected it,because the guy is making advances at me and he knows that, now he is asking me to forgive him that it was the devil,he didn't know wen he did that,and promised never to do that again.
pls what should I do now,because I have really lost some love and respect for him,and I can't stand his sight anymore,I really need a matured advice now ,because we r even planning on getting married soon

mamagee3:
[color=deeppink]I concluded that he wanted nothing but se.x because every time I visited, he would want to sleep with me and everytime I declined, he would call me an Ogbanje.

Plus he didn't ask me things about me like you would expect a be to ask or know. He never knew my birthday or anything else apart from my name and the little details I told him.

Plus throughout the "relationship", he would often try to manipulate me into keeping him company. The whole relationship seemed like he was using me for company and nothing more.[/color]

sammydemperor:
How can u say that when you did not even go through the messages...
Young man donot try a counter argument here, the truth is this... Do Nigerians really have any means at all to communicate with their elected representatives

See in this part of the world government is too far from the electorate. They just win elections and the next time you see them around is when they are campaigning again... Its just pathetic

i decided to give it a try, as i was 27 without a man to call my own.

he wanted to join his friend in car importation business and that they needed to check his account profile. He requested i helped in funding his account every month and that he promises not to withdraw any money i put in but will transfer to me whenever i needed the money. He said there was already a lady banker who was willing to help but that she wanted sex and relationship which he refused. I sat there looking at this guy and it dawned on me i must have been scammed all along all in the name of love.

He said he wanted a relationship that would lead to marriage as he wanted to settle down soon.

He requested for my number which i gave him

Since he told me business was bad and the chips were low. I did the calling. We would spend 1-2 hours talking each day just to maintain the long distance relationship.

Since he was still staying with parent and i was staying with family. We decided to book an hotel for our next meeting. He came and we spoke at length. He complained how bad business had been and how he had used up all his savings and that even his phones were not in good condition. Anyway, i ended up paying hotel bills throughout the duration we stayed, bought him a new phone, bought things he said he needed and[b] gave him money to return[/b]. At his departure, i had spent nothing less than a hundred thousand naira.

After sometime, he phoned me to say he needed money to replace some of machines that were faulty. i should help so business could be fair. As i thought we had a future together, i paid in money to his account for the machine replacement.

He said the distant was creating void between us. That i should get my personal accommodation so we could spend more time together. I said will that make it work? He said yes.

I got an apartment and furnished it

Prior to this time. He was always receiving numerous phone calls from ladies on every occassion of our meeting and whenever i asked. He said they were mere friends.

This guy had a girlfriend well known to his family and friends whom he wanted to marry and here i was making sacrifices for a relationship i thought existed.

I played the recording for him to hear and atleast give me explanations why he did what he did. He simply took his things and left and since then i never heard from him.

I played the recording for him to hear and atleast give me explanations why he did what he did.

fulanimafia:
In the world of corruption advocates, interrogation and possible detention should come before arrests are made.

Keep wailing yourselves into lunacy. At least it has some entertainment value.