Nigeria’s immediate past Senate President, David Mark, has links to at least eight offshore shell companies while holding public office, in violation of a federal code of conduct law, a massive leak of files belonging to Mossack Fonseca, a law firm in Panama, shows.
The files showed how Mossack Fonseca, reputed as one of the most secretive companies in the world, helped clients register offshore entities, some of which are then used to launder money, evade tax and dodge sanctions.
They also provide details of the hidden financial dealings of 128 more politicians and public officials around the world, including in Nigeria.
The trove of 11.5 million files shows how a global industry of law firms and big banks sells financial secrecy to politicians, fraudsters and drug traffickers as well as billionaires, celebrities and sports stars.
The revelations are among the findings of a lengthy investigation by the International Consortium of Investigative Journalists, German newspaper, Süddeutsche Zeitung, and more than 100 other global news organizations.