Those under investigation include former Anambra State Governor Peter Obi, former Senate Presidents Bukola Saraki and David Mark, former Aviation Minister Stella Oduah, late former Bayelsa State Governor Diepreye Alamieyeseigha, former Delta State Governor James Ibori, and retired Delta State judicial officer Stella Ogene.
Sources within the bureau confirmed that investigators had been assigned to the seven cases and had begun examining the allegations. The agency is also expected to extend its inquiries to other Nigerians identified in the international investigations.
The CCB’s investigation focuses on whether the individuals complied with Nigeria’s laws on asset declaration and restrictions governing public officers’ private business interests and foreign bank accounts.
CCB Reviews Earlier Allegations
The latest development follows renewed efforts to establish the status of investigations into public officials identified in the Panama Papers and Pandora Papers, which exposed offshore financial arrangements involving politicians, businesspeople and other prominent individuals around the world.
In September, the bureau disclosed that it was reviewing information and documents concerning allegations of undeclared offshore assets and business interests. It said any necessary action would be taken in accordance with the law and due process.
The agency also indicated that individuals with relevant information could be invited to assist investigators, while declining to disclose details that could affect ongoing inquiries.
Peter Obi’s Offshore Business Interests
Peter Obi was named in the Pandora Papers investigation published in 2021. The report raised questions about his continued directorship of NEXT International (UK) Limited for approximately 14 months after he became governor of Anambra State.
The investigation also questioned whether certain offshore holdings and a foreign bank account had been properly declared during his time in office.
Obi said he was unaware that assets jointly owned with other people were required to be declared. He has also maintained that he did not divert public funds.
Other Individuals Named in the Investigation
Stella Oduah, a former aviation minister, was linked in the earlier investigation to four London properties reportedly worth a combined £6.7 million, acquired through an offshore company registered in Seychelles.
The investigation also examined offshore business interests associated with Stella Ogene, a retired judicial officer, and Nicholas Mutu, a former member of the House of Representatives, whose name appeared in related reporting on offshore companies.
The Panama Papers also identified offshore companies linked to Saraki, David Mark and the late Alamieyeseigha. Earlier reports raised questions about asset declarations and the management of private business interests while some of the individuals held public office.
However, owning an offshore company is not automatically illegal. The central issue for investigators is whether the individuals concerned breached applicable Nigerian laws and disclosure requirements.
The CCB’s findings will determine whether there is sufficient basis for further legal action against any of those being investigated.
