2 Secret businesses of Peter Obi revealed by Pandora Papers

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The recent document released by Pandora Papers, an international investigative platform has revealed the hidden businesses of the former Governor of Anambra State, Peter Obi.

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The International investigative report revealed the hidden businesses of more than 35 current world leaders and more than 130 public officials from over 91 different countries around the world. Peter Obi is one of the influential figures mentioned to have owned secret offshore companies by the Pandora Papers. 

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According to a report by Premium Times, part of the revelations by the Pandora Papers are two hidden offshore companies owned by the former Anambra State Governor, Peter Obi, operating outside Nigeria.

Gabriella Investments Limited

One of the offshore companies of Peter Obi revealed by the investigation is a secret company named Gabriella Investments Limited established on November 17, 2010. The documents explained that the company was named after his daughter, Gabriella Nwamaka Frances Obi.

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The report further revealed that the company was renamed PMGG Investments Limited on February 10, 2017, an acronym for the names of his family members. 

The Gabriella Settlement

The second offshore business of Peter Obi revealed by the Pandora Papers is a trust named The Gabriella Settlement registered in the Gabriella Investments Limited (BVI).

Gabriella Settlement is a trust arrangement that allows a third party or trustee to hold assets on behalf of beneficiaries. The trust is also reported to hold the majority of Peter Obi's assets.

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According to Premium Times, while reacting to the revelation of his offshore companies, Peter Obi stated that the offshore businesses are jointly owned with members of his family, adding that he was not under obligation to declare companies that are jointly owned with family members. 

However, the report explained that the position of Peter Obi is against the constitution of the Federal Republic of Nigeria which stated that public officials should declare all assets whether jointly owned or partly owned. 

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The development shows that Peter Obi violated the provision of the Code of Conduct Law and may be prosecuted and arraigned before the Code of Conduct Tribunal if Nigerian authorities decided to take appropriate action against him. 

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