3 May 2016
There has been a lot of mention in the media worldwide of the ‘Panama Paper’. With all the very many mentions, how much do you know about the subject; probably not as much as you will like to. This article goes a little deeper as it presents more details about the ‘Panama Papers’.
– The ‘Panama Papers’ is an alias for the massive data leak revealing how Panamanian based law firm, Mossack Fonseca has been helping the world’s rich and famous conceal their money using shell companies and offshore accounts.
– The Panama Papers leak is the largest data leak in history with 11.5 million documents and 2.6 terabytes worth of data. It is a much bigger leak than has ever been revealed on Wiki Leaks or by former CIA employee and whistle-blower, Edward Snowden, who released details of the agency’s extensive internet and telephone surveillance to the media.
– It implicates a number of high profile individuals all over the world. From the father of Britain’s Prime Minister, David Cameron, to the Prime Minister of Iceland, Sigmundur Gunnlaugsson and his wife, Anna Sigurlaug Palsdottir, Argentinian footballer, Lionel Messi, son of former United Nations Secretary General , Kofi Annan and hundreds of others.
– In Nigeria, Senate President, Bukola Saraki, the wife, Toyin Saraki and brother, Laolu Saraki are among those mentioned in the leak. There is also an Olufela Ibidapo, Obi Asika, James Ibori – former governor of Delta state, a former Nigerian Ports Authority director, Bello Gwandu, Folorunsho Coker – a former Special Adviser to Ex-Governor Babatunde Fashola, former Senate President David Mark, Rtd. General Theophilus Danjuma, among others.
– Even though the list was only just recently released publicly, it has been in the custody of German newspaper, Süddeutsche Zeitung, who received the information from an anonymous source.
– According to information on the ICIJ website, the documents were reviewed by the International Consortium of Investigative Journalists (ICIJ), together with the German newspaper, Suddeutsche Zeitung – who initially received the information – and more than 100 other media partners.
– Four journalists in Nigeria and hundreds of others from 76 countries spent a year analysing every bit of the information before it was finally released.
– 21 companies, 8 clients, 24 beneficiaries and 168 shareholders from Nigeria alone have been mentioned in the leaked documents.
– Mossack Fonseca, the firm involved in the leak, is just one of many tax havens that are used by powerful individuals all over the world to hide assets and in some cases, stolen public funds.
Author: Aderonke Adeleke
Writer. Music lover. Movie junkie. Social Media Enthusiast. Aspiring dancer. Aspiring photographer. Social Introvert.