Politics

Pandora Papers report is ‘ignorant on international investment practices’ — Peter Obi

Former governor of Anambra state, Peter Obi, has described the Pandora Papers report that implicated him of evading tax as ignorant “on matters of trust and international investment practices”.

The vice presidential candidate of the Peoples Democratic Party (PDP) was implicated in the pandora papers report to have Obi discreetly set up a company called Gabriella Investments Limited, in the British Virgin Island.

According to the report, Obi named the company Gabriella Investments Limited, after his daughter Gabriella Nwamaka.

The report claimed that Obi participation in the affair of the company during his tenure as a governor contravened Section Six (6) of the Code of Conduct Bureau and Tribunal Act.

Obi was also noted to have contravened Section 11 of the 1999 constitution (as amended) which stipulates that public officers are required to declare “immediately after taking office and thereafter all” their properties, assets, and liabilities and those of his (or her) unmarried children under the age of eighteen years.

Reacting, Obi said the report doesn’t reflect international investment practices.

“On the allegation that I violated the Nigerian Code of Conduct Bureau and Tribunal Act, as well as sections of the 5th Schedule to the constitution of the Federal Republic of Nigeria 1999 (as amended), by not declaring any alleged assets in companies registered outside the Nigerian Federation, I think that the authors displayed ignorance on matters of trust and international investment practices,” he said.

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