Panama Papers To Go Public

You have longed and waited for it. The almighty treasure trove of details containing the biggest secrets of money laundering and shady shell companies is going public on May 9.

Yes! The Panama Papers will be releaed on that date. International Coalition of Investigative Journalists, ICIJ, the body that received leak from The German newspaper only released a summary of major highlights in the leak. The organisation promised to release at a later date when all findings and major parts of the document are reviewed.

The Panama Papers has unearthed political corruption at the highest level and how Mossack Fonseca, a legal firm that specialise in registering offshore shell companies aided and abbeted culprits and illegal business people to launder funds, hide or reduce their tax liabilities through the process.

Back in Nigeria, three high profile politicians have been named. Senator David Mark, a former Senate President of Nigeria has been accused of hiding funds in Panama via the leaks.

James Onanafe Ibori, a former governor of oil rich Delta state, who is also currently incarcerated in the UK was reported in the leaks to be using numerous philanthropic foundations to divert and launder funds belonging to his state.

The embattled current Senate President, Bukola Saraki who is facing corruption charges locally is being accused of using his wife as a cover up for some funds and property attributed to the report.

Panama Papers has exposed high level corruption many of which has been denied by those accused.

Leave a Reply

Your email address will not be published.