Peter Obi’s Secret Offshore Businesses Revealed in Pandora Papers Investigation

Peter Obi, the former governor of Anambra State in Nigeria, is under investigation for not declaring his offshore businesses and assets. This information comes from the Pandora Papers project, which involved journalists worldwide examining leaked documents from offshore companies.

Obi is known in Nigeria for promoting good governance and transparency. He has often discussed his successful business career before entering politics, listing various companies he has been involved with. However, the investigation shows that he has hidden business dealings that violate Nigerian law.

According to the investigation, Obi set up a company called Gabriella Investments Limited in the British Virgin Islands in 2010. This company was created with the help of a Monaco-based firm that specializes in establishing offshore entities. Obi admitted that he did not declare this company or its assets to the Code of Conduct Bureau, which oversees public officials’ financial disclosures in Nigeria.

Obi stated he was unaware that he needed to declare companies he owns with family members. The leaked documents from the Pandora Papers revealed that many influential figures, including politicians and business leaders, use offshore companies to hide their financial activities.

In 2017, Obi renamed Gabriella Investments to PMGG Investments, which incorporates the initials of his family members. He also established a trust called The Gabriella Settlement, which is believed to hold most of his assets. The investigation raises questions about the legality of his offshore business practices and their implications for his public image.