Presidential candidate of the Nigeria Democratic Congress (NDC) Peter Obi has admitted having over $100m oversea “family savings” as unravelled by Panama papers.
The Panama papers where documents unearthed by journalists on resources kept away in Shell accounts offshore by individuals and organisations to avoid paying taxes – most of which were not disclosed as expected in their home countries.
Speaking on Channels Television last night, he said: “There is nothing called a tax haven in the way people describe it. I opened an account while I lived in the UK and started saving for what I called a family estate. Every year, because I had an income then, I saved a portion of it.
“I listed my assets overseas. It will shock you that the Code of Conduct Bureau actually investigated those assets, and they found nothing wrong.”
Obi also said his frequent movement across political parties, is caused by circumstances beyond his power.
He attributed it to the absence of ideological direction in most political parties and the persistent internal crises that have weakened them.
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In 2023, he was the presidential candidate of the Labour Party (LP). He moved from there to African Democratic Congress (ADC) and left shortly after for the Nigerian Democratic
Obi also accused the ruling All Progressives Congress (APC) of deliberately encouraging instability within opposition parties as part of a strategy to weaken alternatives political platforms and reduce competition in the country’s democratic space.
The former Anambra State governor, however, declined to disclose details of his policy agenda or how he intends to tackle Nigeria’s economic and security challenges if elected president in 2027.
Instead, he assured Nigerians that he possesses practical solutions to the country’s problems but would not reveal them publicly.
The NDC standard bearer justified its by saying that if he could save for Anambra
State when he was governor, why would he not save for his family.
Obi said Nigeria’s democracy would only become stronger when all political parties are allowed to function independently without intimidation, infiltration or external interference.
