CCB opens probes into seven former Nigerian officials over offshore assets

Investigation launched into seven former officials

The Code of Conduct Bureau (CCB) of Nigeria has confirmed that it has started investigations into seven former public officials who were named in the Panama Papers and Pandora Papers. The subjects include former Anambra State Governor Peter Obi, ex-Senate Presidents Bukola Saraki and David Mark, former Aviation Minister Stella Oduah, the deceased former Bayelsa State Governor Diepreye Alamieyeseigha, ex-Delta State Governor James Ibori, and retired Delta State judicial officer Stella Ogene. The bureau said that case officers have already been assigned and investigations have commenced. The CCB confirmed the information to Premium Times after the newspaper requested an update on the bureau’s handling of the allegations. This probe stems from a Premium Times report alleging that these officials utilized offshore entities and other corporate frameworks to maintain assets and business stakes during their tenure in public service. The publication prompted inquiries regarding adherence to Nigerian asset disclosure regulations and the rules governing private commercial activities and foreign banking relationships for public servants.

Background

The Panama Papers and Pandora Papers were international journalistic investigations released by the International Consortium of Investigative Journalists (ICIJ). They exposed the use of offshore structures by a range of public officials worldwide. In September 2023, the CCB disclosed that it was examining data and documents concerning claims of undisclosed overseas assets and business holdings by public figures, as revealed by the Premium Times' Pandora Papers inquiry. Previously, in October 2021, the agency had contacted the media outlet to recognize the importance of the Pandora Papers and to seek collaboration in aiding investigations and, when feasible, the prosecution of Nigerians identified in the disclosures. Musikilu Mojeed, the editor-in-chief of Premium Times, accepted this appeal and committed the publication to cooperating with the authorities. Following a period of years without public statements, the media house contacted the bureau again in July 2026 to inquire about the progress of its examination of the public officials mentioned in the reports. The CCB has indicated that its probes may expand to include other persons identified in the Panama Papers and Pandora Papers.

Why it matters

The investigations involve high‑profile former leaders and a minister, raising concerns about the integrity of Nigeria’s public office. The alleged use of offshore structures to hold assets and business interests while in office could represent breaches of the Code of Conduct for Public Officers, which prohibits public officials from holding private business interests that conflict with their duties. The CCB’s action follows a broader international push for transparency in the use of offshore entities by public officials. The investigations could lead to legal proceedings and potential sanctions against the individuals if the allegations are proven.

What happens next

The CCB has not yet announced a timetable for the investigations or any forthcoming hearings. The bureau confirmed that case officers have been assigned and investigations have begun, but no further details were provided. The CCB is expected to continue its review of the allegations and may extend the investigations to other officials named in the Panama Papers and Pandora Papers.