An investigation by Pandora Papers has exposed the ill-gotten billions and shady deals of another Nigerian politician in the frame of current Governor of Kebbi State and All Progressive Congress (APC) chieftain, Abubakar Atiku Bagudu.
The report revealed how the Governor was helped by British firms as he worked to conceal the huge wealth he made as a key member of the Abacha plunder machine. Pandora paper had earlier indicted Former Anambra State Governor, Peter Obi for owning secret businesses and non-declaration of asset
In a report by Premium Times, Mr Bagudu is long known to have played an instrumental role in the Abacha conspiracy to steal and launder billions of dollars belonging to Nigeria.
But how he set up complicated structures of secrecy to hide stolen money as well as the role of his enablers, including prestigious British law firms and Serious Organised Crimes Agency (SOCA) the predecessor of the National Crimes Agency (NCA), has never been made clear by the latest investigation.
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Recall that 13 years ago, while he was a Senator, Mr Bagudu reportedly dispatched a delegation to Singapore in search of a new haven to shelter his controversial wealth, which is a target of ongoing forfeiture proceedings by the United States Department of Justice.
Bagudu according to the investigation had structured offshore holdings Ridley Trust and Ridley Group in notorious tax and secrecy havens, Guernsey and the British Virgin Islands, positioning himself as the unseen but ultimate beneficiary.
Pandora Papers investigation – led by the International Consortium of Investigative Journalists, including more than 600 journalists, including some from PREMIUM TIMES, and about 150 news organizations around the world – uncovered financial secrets, including those of politicians, former and serving public officials, including known and suspected kleptocrats such as Mr Bagudu.
Involving 11.9 million leaked records, which journalists sifted through for two years, the Pandora Papers project is the biggest collaborative transnational investigation in the history of journalism.
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The leaked records reportedly came from 14 offshore services firms from around the world who help clients set up shell companies and design opaque structures to conceal their financial dealings.
