Nigeria: Senate President Saraki Named in #ParadisePapers

Nigerian Senate President Bukola Saraki, former Kenyan minister Sally Kosgei, Zambian opposition leader Hakainde Hichilema, Liberian President Ellen Johnson Sirleaf, Uganda's Foreign Affairs Minister Sam Kutesa and the brother of former Ghanaian president John Mahama, Ibrahim.

Bukola Saraki is the president of Nigeria's Senate, which makes him the third most powerful politician in Nigeria.

In the data
Saraki was director and a shareholder of Tenia Ltd., a company established in the Cayman Islands in April 2001. Appleby's records describe Tenia Ltd. as a "holding company." In August 2013, Appleby had recorded Saraki's company as "low" risk and listed the company's address as 30 Saka Tinubu Street on Victoria Island in Lagos, which his lawyers said was rented by him.

In 2016, Nigerian officials obtained a search warrant on the property, as part of an investigation examining alleged false declaration of assets, according to local media. In June 2017, a tribunal in Nigeria dismissed charges against him of having falsely declared assets, but Nigeria's federal government vowed to appeal. Tenia Ltd was listed as active as of 2015.

Response

"There is nothing unlawful in the ownership of offshore companies," Saraki's lawyers told ICIJ, adding that Tenia Ltd. was incorporated two years before Saraki was elected as governor. Tenia Ltd. has never held assets nor conducted business and Saraki rented the property given as Tenia Ltd.'s address in Lagos, Nigeria, his lawyers told ICIJ. They also said that he believes the case against him is politically motivated and he is confident that the appeal will be dismissed.

Related documents

Appleby Document for Tenia Ltd - Saraki

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