Nigeria’s Code of Conduct Bureau (CCB) has opened investigations into former Anambra State Governor Peter Obi, former Senate Presidents Bukola Saraki and David Mark and four others over alleged undeclared offshore assets and business interests linked to the Panama Papers and Pandora Papers investigations.Buy Maps
According to Premium Times, which sought an update from the bureau on the cases, sources at the agency confirmed that investigators had been assigned to seven cases and had commenced work.
Others being investigated are 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.
“All the Nigerian officials named in the Panama and Pandora papers will be investigated. But seven of them have been assigned to case officers who have already commenced investigations,” a CCB source said.Buy Maps
An aide to the bureau’s chairman also confirmed that investigations into officials named in the global journalistic investigations were ongoing.
The Panama Papers and Pandora Papers, coordinated by the International Consortium of Investigative Journalists (ICIJ), examined offshore companies and financial arrangements involving public officials and business figures around the world.
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The reports raised questions about whether some Nigerian public officials complied with asset declaration laws, restrictions on running private businesses while in office and rules on operating foreign bank accounts.Buy Maps
The CCB first contacted PREMIUM TIMES in October 2021 after the Pandora Papers publication, describing the investigation as one that had “created ripples across the globe” and requesting the newspaper’s cooperation.
The newspaper’s Editor-in-Chief, Musikilu Mojeed, agreed to assist the bureau.
In July 2026, Premium Times wrote to the bureau again seeking an update on the investigations. The CCB replied in September that it was reviewing relevant materials in line with its constitutional and statutory mandate and could invite representatives of the newspaper for further clarification as the process continued.
Among the findings cited in the Pandora Papers was that Obi remained a director of a British company, NEXT International (UK) Limited, for 14 months after becoming governor of Anambra State and allegedly failed to declare some offshore holdings.
Obi has said he was unaware that jointly owned assets also had to be declared and maintained that he did not divert public funds.
The investigation also linked Oduah to a Seychelles-registered company through which London properties were allegedly acquired while she served as aviation minister.
The Panama Papers linked Saraki and his family to offshore companies and assets that remium Times reported were not declared as required under Nigeria’s asset declaration rules.Buy Maps
David Mark was also linked to several companies registered in the British Virgin Islands while serving as a public officer.
The investigations involving Alamieyeseigha, Ibori and Ogene similarly examined offshore companies and overseas assets allegedly connected to them during or after their time in public office.
The CCB is expected to extend its investigations to other Nigerian public officials named in the Panama Papers and Pandora Papers reports.Buy Maps
Under Nigeria’s Code of Conduct for Public Officers, public officials are required to declare their assets and those of their spouses and children under 18, are restricted from managing private businesses while in office except in specified circumstances and are prohibited from operating foreign bank accounts.
Officials found culpable after investigation may be prosecuted before the Code of Conduct Tribunal.
Source: QEDNG
