about in all of German Press and all over the world,
so this is not about Nigeria alone,I just listened to a
radio report this Morning on it and its reports is
allegedly AUTHENTIC....Go figure!
Nigeria’s immediate past Senate President, David
Mark, has links to at least eight offshore shell
companies while holding public office, in violation
of a federal code of conduct law, a massive leak
of files belonging to Mossack Fonseca, a law firm
in Panama, shows.
The files, seen by PREMIUM TIMES, show how
Mossack Fonseca, reputed as one of the most
secretive companies in the world, helped clients
register offshore entities, some of which are then
used to launder money, evade tax and dodge
sanctions.
They also provide details of the hidden financial
dealings of 128 more politicians and public officials
around the world, including in Nigeria.
The trove of 11.5 million files shows how a global
industry of law firms and big banks sells financial
secrecy to politicians, fraudsters and drug traffickers
as well as billionaires, celebrities and sports stars.
The revelations are among the findings of a lengthy investigation by the
International Consortium of Investigative Journalists, German newspaper
Süddeutsche Zeitung and more than 100 other
global news organizations – including PREMIUM TIMES.
PREMIUM TIMES is the only Nigerian publication
involved in the investigation, which lasted a year.
As a former senate president, Mr. Mark stands out
among other notable Nigerians named in the files.
The 68-year old former military officer spent the
last 40 years covered by the investigation largely
as public office holder. But he is widely seen to be
far richer than his legitimate incomes could
have provided.
He served as military governor of Nigeria’s north-
central state of Niger, minister of communications,
and later as president of the Nigerian Senate from
2007 to 2015.
Mr. Mark has been in the senate since 1999, and
remains a senator of the federal republic, representing Benue South Zone
in the upper legislative chamber.
Mr. Mark and his secret companies
The Mosseca Fonseca database shows that
Mr. Mark is one of Nigeria’s most extensive
users of offshore shell companies, even while
being a public official.
In documents, Mr. Mark was linked to eight active
companies registered in the British Virgin Island.
They are Sikera Overseas S.A, Colsan Enterprises
Limited, Goldwin Transworld Limited, Hartland
Estates Limited, Marlin Holdings Limited, Medley
Holdings Limited, Quetta Properties Limited, and
Centenary Holdings Limited.
In the documents, Mr. Mark was repeatedly marked
as a politically exposed person, and at a point the
former Senate President had to send documents,
across to Mosseca Fonseca to prove that he was
clean.
It remains unclear what businesses Mr. Mark is
conducting with the companies.
While not all owners or operators of such offshore
entities are criminals, owning or maintaining
interest in private companies while serving as a
public official is against Nigerian laws.
Section 6(b) of the Code of Conduct Act says a
public office holder shall not, “except where he
is not employed on full‐time basis, engage or
participate in the management or running of any
private business, profession or trade”.
In a previous investigation by PREMIUM TIMES,
Mr. Mark’s estranged wife, Vikky Preye Mark,
was also exposed as an operator of secret offshore
accounts.
Mrs. Mark operated an account with the Swiss
branch of HSBC, but with details made largely
secret.
Although she was known within the bank as the
beneficial owner of the account, she was largely
identified with a secret code – 14312MP.
Mrs. Mark opened the account on December 18,
1989 and closed it on July 12, 1991. About that
time, her husband, then a top ranking army officer,
had served as military administrator of Niger State
and federal minister of communications, a period
during which he is believed to have made a fortune.
Court papers during a messy divorce with his wife
suggested that some of Mr. Mark’s children schooled
in Switzerland, but it is not clear whether it was
during that period that Mrs. Mark operated the
HSBC account.
The court papers also showed that the Marks
operated foreign accounts elsewhere.
About six million pounds in four accounts – three
at the Northern Bank, Isle of Man, and one at the
Allied Irish Bank, Jersey – were frozen in October
2000 as a result of the ancillary relief sought by
Victoria Mark in the couple’s divorce case.
Part 1, Section 7 of the Code of Conduct law provides
that, “Any public officer specified in the Second
Schedule to this Act or any other persons as the
President may, from time to time, by order prescribe,
shall not maintain or operate a bank account in any
country outside Nigeria.”
If the Code of Conduct Bureau decides to slam
charges on Mr. Mark following the #PanamaPapers revelation, the politician
may lose his senatorial seat,
a position he won back just on February 20 after his
initial election of March 28, 2015 was annulled by a
tribunal. His fiercest challenger had alleged
irregularity.
Section 23 of the Code of Conduct law, which
stipulates punishment for violators, say:
(1) Where the (Code of Conduct) Tribunal finds
a public officer guilty of contravening any of the
provisions of this Act, it shall impose upon that officer any of the punishments
specified under subsection (2)
of this section.
(2) The punishment which the Tribunal may impose
shall include any of the following-
(a) vacation of office or any elective or nominated
office, as the case may be;
(b) disqualification from holding any public office
(whether elective or not) for a period not exceeding
ten years; and
(c) seizure and forfeiture to the State of any property acquired in abuse or
corruption of office.
The #PanamaPapers had on Monday exposed
Mr. Mark’s colleague in the Senate, Bukola Saraki,
as failing to declare at least four assets belonging to
his wife, all tucked away in secret offshore territories
, as required by Nigerian laws.
But the President of the Senate denied any
wrongdoing, saying he “declared his assets properly in accordance with the
relevant legislation,” and that the charges against him “are both unfounded and
politically motivated.”
Mr. Mark wouldn’t comment
The former senate president did not answer or
returns calls made to him by PREMIUM TIMES
reporters seeking comments. He also did not respond
to a text message.
His spokesperson, Paul Mumeh, initially said he would
only comment if given access to the database from
which the story about his boss was sourced. He later
said Mr. Mark was out of Abuja, and was unreachable.
“I’m not sure about the accuracy of your claims,”
Mr. Mumeh said. “I need to consult him (Mr. Mark)
before commenting.”
*Infact all Nigerian office holders mentioned in the
Panama papers should resign ASAP!!..Nonsense!
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