Former Governor of Anambra State, Peter Obi has reacted after he was exposed among the Nigerian politicians hiding some assets in offshore accounts and shell companies.
The probe is part of the global International Consortium of Investigative Journalists (ICIJ)-led Pandora Papers project. The Pandora leaked documents were obtained from a number of offshore services organizations around the world that set up shell corporations and other offshore entities for clients, many of whom were powerful politicians, businesspeople, and criminals who wanted to hide their financial operations.
The financial secrets of at least 35 current and previous world leaders, as well as more than 330 government officials from 91 countries and regions
According to Peter Obi, the reason why he did not declare the assets in the Pandora Files is that those assets do not belong to him alone as he shares some with his family members and other business partners.
He revealed that he did not have the information that he had to declare the name of his family members in his asset declaration filings with the Code of Conduct Bureau
He stressed that he also tried to avoid inheritance tax hence his shell accounts.
“I don’t declare what is owned with others, If my family owns something I won’t declare it. I didn’t declare anything I jointly owed with anyone.”
“I am sure you too will not like to pay inheritance tax if you can avoid it