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7 Nov 2017

Saraki Reacts to Paradise Papers Leak- I Did Nothing Wrong

Nigeria's Senate President Bukola Saraki has reacted to being named as benefiting from a tax haven, as leaked in the recent Paradise Papers.

#ParadisePapers: Saraki Listed Among World Politicians Exposed In New Offshore Leak

In a statement released on Monday, Saraki said he did nothing illegal in establishing Tenia Limited but did not claim that he declared the firm in his assets declaration form.

"We will like to make it known that Dr. Saraki violated no law and did nothing illegal in the course of registering the company under reference, Tenia Limited, and afterwards.

“As we had earlier explained when the issue was first brought into public view, the company in question, Tenia Limited, was incorporated in 2001, long before Dr. Saraki ventured into politics and was elected into public office.

“The company from incorporation to date had never been used for any transaction. It held no asset. It had no bank account to the best of the knowledge of Dr. Saraki. Even if it did, the Senate President was not a signatory to such account. This is just a paper company and therefore could not have been used to hide any asset.”

“The company, unlike the other ones investigated by the International Consortium of Investigative Journalists (ICIJ), had been a dormant entity from creation such that when in late 2015, its existence was raised with the Senate President, he could not readily recollect that there was such a company linked to him,” he said.

“He then immediately directed that the company be struck off.

“For the umpteenth time, we will reiterate the fact that the Senate President has fully complied with the law on assets declaration, even as it concerns the company under reference.”

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