![Pandora Papers: Tinubu, Jonathan, Otedola Others Kept N117 billion Assets In Tax Haven Banks [Full List]](https://i0.wp.com/truetellsnigeria.com/wp-content/uploads/2021/10/Pandora-Papers-An-Offshore-Data-Tsunami-In-The-Making-768x432-1.jpg?fit=768%2C432&ssl=1 "Pandora-Papers-An-Offshore-Data-Tsunami-In-The-Making-768×432")
Pandora Papers have revealed details on how some Nigerians kept away multibillion assets in two tax haven banks.
According to the latest release by Premium Times of the Pandora Papers, filings of these individuals businesses with their offshore financial managers, Trident Trust Company (BVI) Limited, as of October 2016, showed that had a combined treasure worth about $100 million and £77.3 million in assets, cash, bonds, equities, mutual funds and property holdings controlled by the Standard Chartered Bank in Guernsey, Jersey and the U.K.
Another two owed assets worth $511,860 and 50,000 pounds in Standard Bank, Jersey.
Going by the Central Bank of Nigeria’s exchange rates, these individuals assets amount up to about N84 billion.
And at the parallel market (black market), the assets are worth N117 billion.
Truetells Nigeria reports that the Pandora Papers investigation involving over 600 journalists and over 100 media organisations have exposed the financial dealings of former UK Prime Minister, Tony Blair, Kenya President Uhuru Kenyatta, the image-maker of Russian President Vladimir Putin and many others
The investigation also uncovered financial secrets, including those of politicians, former and serving public officials, including Governor Atiku Bagudu of Kebbi State, former PDP Vice-presidential candidate, Peter Obi, APC chieftain, Senator Stella Oduah, Governor Gboyega Oyetola of Osun State, among others.
the latest exposé, the Nigerians listed below include two former military governors, a former minister, an erstwhile presidential adviser and some of Nigeria’s leading business people
They are:
1. Hakeem Adebayo Folawiyo and Lisa Folawiyo
Mr Jegede owned Latote Assets Limited, HG Properties Limited and Latote Trust. Through the three entities, he had assets worth $1.7 million and £1 million kept with Standard Chartered Bank in Jersey.
This means the 54-year-old chairman of Phase 3 Telecoms had about N1.8 billion worth of treasure in offshore companies.
5. Andrew Folorunsho Alli
Among other top corporate positions he has held home and abroad, which included being the CEO of Africa Finance Corporation, Andrew Folorunso Alli serves as the CEO of Southbridge Group, a pan-African financial advisory firm, and non-executive director at MTN Nigeria, CDC Group, a U.K. government-owned DFI and of the Development Bank of Nigeria.
The Nigerian-British was the ultimate beneficial owner of offshore firms Zigzag Africa Limited, Zigzag Trading Limited and the Zigzag Trust. The three entities held assets worth $3.9 million (approximately N2.3 billion) with Standard Chartered Bank (Jersey).
6. Aderemi Muyinudeen Makanjuola
The patriarch of the Makanjuolas, Aderemi Muyinudeen Makanjuola, chairs the Board of Caverton Offshore Support Group, and using Bramble Offshore Limited, he had assets worth $4,000 and £3 million with the Standard Chartered Bank (Jersey)
7. Adeniyi Ibraheem Makanjuola
Adeniyi Ibraheem Makanjuola, 41, co-founded Caverton Helicopters, a subsidiary of his father’s parent company. Alongside Oludarafunmi Clarissa Makanjuola, 39, he owned Templefield Investments Holdings Limited which kept its assets worth £9.5 million (N7.4 billion) with Standard Chartered Bank (Jersey).
8. Chukwudalu Udemezue Mba
The consultant in financial services has Standard Chartered Trust (Guernsey) as a trustee of the Goree Trust owned by his offshore firm, Aravale Investing Limited. The company kept £606,700 (N470.2 million) in cash, stock and bonds with Standard Chartered Bank, Jersey.
9. Emmanuel Chukwuma Edozien
The late economist, who served as the chief economic adviser to the late President Shehu Shagari, died in 2019, aged 82.
He owned the offshore firms: Erico Investments Limited, Larimer Holdings Limited, Mayqueen Properties Limited, Petalina Investments Limited, BEC Trust and Betemen Trust.
The consultant in financial services has Standard Chartered Trust (Guernsey) as a trustee of the Goree Trust owned by his offshore firm, Aravale Investing Limited. The company kept £606,700 (N470.2 million) in cash, stock and bonds with Standard Chartered Bank, Jersey.
10. Anwar Manssour Jarmakani
The self-made industrial entrepreneur, who in 1963 migrated from Syria to Nigeria, where he has since been naturalised, is the founder and executive chairman of Jagal, a Nigerian conglomerate holding that deals in energy businesses and manages a diverse portfolio of investments.
Mr Jarmakani, 72, through his Starstone Holdings Limited, had $2,300 and £8.9 million (both N6.9 billion) worth of assets which included properties. The assets were kept with Standard Chartered Bank, Jersey.
11. Jonathan Tunde Ogbeha
The retired general, 74, was the administrator of Akwa Ibom and the defunct Bendel States during the military era and a two-term senator for the Kogi West constituency of Kogi State.
Documents from his financial dealing said he dealt in wireless telecommunication activities. Through his BVI company, Red Devils Investments Limited, he kept $5 million, (which is some N2.8 billion) with Standard Chartered Bank, Jersey.
12. Jubril Adewale Tinubu
Jubril Adewale Tinubu, the group chief executive of Oando PLC, owns Sloane Square Limited Investment Holdings which had $4.9 million (N2.8 billion) with Standard Chartered Bank, London.
13. Rilwan Olakunle Tinubu
Rilwan Tinubu is CEO of Nigerian company, Trojan Estates Limited. However, through his Wren Finance Limited and The Madison Trust, he held assets worth $14,100 and £4.9 million (totalling N3.8 billion) with Standard Chartered Bank, Jersey.
14. Muhammed Sani Bello
The retired colonel, a former military administrator of Kano State and ex-ambassador to Zimbabwe, is the father of the incumbent Niger State Governor. He chairs Dantata and Sawoe Construction Company Limited and Mainstream Energy Solutions Limited.
In 2013, Forbes ranked him 38th among Africa’s 40 richest people with a net worth of $500 million. In today’s worth, that’s N287.5 billion.
Mr Bello, 78, owns offshore firm Sandel Holdings Limited which kept a princely $39,800,000 (N22.9 billion) treasure in cash, bonds, equities and mutual funds with Standard Chartered Bank London. The assets are managed by Standard Chartered Trust, Guernsey.
15. Narenda Lakhi Chukni
The Indian-Nigerian, 56, with investments in real estate management, owned BVI firm Javelin Properties Limited. He had his $3.3 million (N2.6 billion) worth of assets in Standard Chartered Bank, Jersey.
16. Olufemi Peter Otedola
The billionaire businessman, with interests in oil and gas and power generation, owns Hampshire Venture Property Holdings Limited, a British Virgin Island company. That company and Mr Otedola’s Fenman 2 Settlement kept $34.4 million (N19.8 billion) with Standard Chartered Bank, Jersey.
17. Omatseyin Akere Ayida
Mr Ayida is CEO of Ruyat Oil Limited and board member of Mainstream Energy Solutions Limited. He is also the owner of Sunnysky Ventures Limited and the Akene Ayida Trust through which he kept $545,800 (N313.8 million) wit