Panama Papers: Senator Andy Uba may face ССT-CCB trial
- Leaked documents show that Senator Andy Uba reportedly owns an offshore company Wentworth Properties Limited in the Republic of Seychelles, an infamous tax haven
- The company that allegedly made Uba really rich was founded on November 3, 2004
- If confirmed, the senator of the 8th Senate may face a trial at the Code of Conduct Bureau (CCB) and the Code of Conduct Tribunal (CCT)
International Consortium of Investigative Journalists (ICIJ) and media organisations around the world continue in-depth studying of #PanamaPapers leak. The attention of PremiumTimes' reporters was drawn to a file describing Senator Uba’s alleged offshore structure in the Seychelles.
Andy Uba’s net worth was insignificant and almost peasantry before May 29, 1999, when Olusegun Obasanjo was sworn in as the president. He later returned from his sojourn in the United States to be appointed a presidential aide.
In November 2004, Andy Nnamdi Uba was only a special assistant on domestic affairs to the then president. However, he possibly had gained enormous wealth by using the services of the offshore handlers, Mossack Fonseca.
He is believed to have become suddenly rich, running for governor in 2007, and then for senatorial position after his governorship election was annulled.
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According to the leaked file, two ladies, Marta Edghill, the 'president' of the company, and Vianca Scott, the 'secretary' of the company, helped Uba to set up an offshore firm, Wentworth Properties Ltd., in the tax heaven.
The first meeting of its board of directors was held on November 3, 2004. Its legal address was given as Suite 13, First Floor, Oliaji Trade Centre, Francis Rachel Street, Victoria, Mahe, Republic of Seychelles. This is the office address of Mossack Fonseca office in the offshore.
Wentworth Properties Ltd. was not a real company, as it had no physical characteristics, no office structure, not even a janitor.
According to the leaked minutes of meeting, the two ladies resolved that Andy Uba be issued 4,950 shares with a par value of USD 1,00 each, and Mrs Sederica Vedelago - 50 shares with a par value of USD 1,00.
What is unclear at the moment is which businesses the Nigerian public servant might have transacted with the company, which remains active till date.
The senator might have violated Nigeria’s law and could be arraigned before the CCT / CCB. Andy Uba could be charged for failing to declare the company and its associated assets and, probably, operating foreign accounts while being a public officer.
The offences violate sections of the Fifth Schedule of the Constitution of the Federal Republic of Nigeria 1999, as amended. Senator Uba declined to comment on this story.
Currently at least 100 Nigerians and affiliated companies are identified in the #PanamaPapers leak.
Source: Legit.ng
