A human rights lawyer, Mr. Femi Falana
(SAN), on Thursday called for the prosecution of Nigerian public
officers who are found to be holding foreign accounts in Panama.
Falana said in a chat with one of our
correspondents on Thursday that while private citizens named in the leak
could be exempted, public officers among them were liable for
prosecution.
He said, “Private persons are not
prohibited from keeping accounts wherever they like. However public
officers have always been barred by the Code of Conduct Bureau and Code
of Conduct Trubunal Act from operating foreign accounts in any manner
whatsoever.
“To that extent, former and serving
public officers whose accounts have been published in the Panama Papers
are liable to be prosecuted if they had failed to declare them in their
asset declaration forms.
“Secondly, the onus is on them to prove that any funds in such accounts emanated from their legitimate income.”
However, a former Senate President,
David Mark, who had been linked with the offshore assets scam had denied
any link to the firms that were indicted in the report published in
the Panama Papers.
He has therefore threatened legal
actions against media organisations that published stories that linked
him to the scam. He argued that Mark had not contravened any laws of the
land in that respect.
The Media Assistant to the erstwhile
Senate President, Mr. Paul Mumeh, who stated this in a statement issued
in Abuja, explained that a thorough scrutiny of the document showed that
Mark’s name was not mentioned in the report.
Meanwhile, Africa’s richest man, Alhaji
Aliko Dangote; and his cousin, Sayu Dantata, have been named among
prominent people who operate shell accounts in tax havens.
Some of the companies linked to Dangote
include Paseo Trading Limited, Seychelles; Petrowest S.A., Seychelles;
SID Holdings Corp, Panama; and Chalmers Shipping Inc, Panama.
According to internal data of the Panama-based offshore-provider, Mossack Fonseca, obtained by the German newspaper, Süddeutsche Zeitung and shared by the International Consortium of Investigative Journalists with Premium Times
and over 100 other media partners in 82 countries, Dangote and Dantata,
as well as his business allies have over the years used shell companies
domiciled in controversial tax havens in their business transactions.
There was no evidence, however, that Dangote or Dantata had evaded tax or were using the accounts for illicit activity.
According to documents sighted by Premium Times,
Dangote is one of the most prominent clients of Mossack Fonseca, and in
Panama alone, based on company registration addresses provided by
shareholders, 13 shell companies registered by the firm are directly
linked to persons and companies who in turn are linked to the
billionaire and his allies.
Dangote and Dantata, the founder of MRS
Holdings bought equal shares of 12,500 each from OVLAS S.A, a shell
company registered in Seychelles, a tax haven, on October 6, 2003.
On the same date also, a company they
both own as at 2003, MRS Oil and Gas Co. Limited bought 25,000 numbers
of shares from OVLAS S.A.
According to the documents, three years
after they exited as shareholders of the company, Dangote, Dantata and
M.R.S Oil and Gas Company Limited ceased to be shareholders in the
company. That was on April 12, 2006.
But in an arrangement that seems curious, Dangote was issued a higher amount of shares, 250,000, on the same day he resigned.
In the same manner, Dantata, was issued
the same amount of 250,000 shares. That means the businessmen might have
simply resold the shares back to themselves. Their company, MRS Oil and
Gas, was re-issued 500,000 shares.
When contacted, however, the spokesman for the Dangote Group, Tony Chiejina, told The PUNCH that Dangote never had any relationship with the offshore entities.
Chiejina said, “I wish to state categorically that neither Aliko Dangote
nor Dangote Industries Ltd. has any form of relationship with these
alleged four offshore companies. The group has four quoted companies on
the Nigerian Stock Exchange and we cannot afford to tarnish our
reputation or conduct our business in an unethical manner given this
profile.
source:punch
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