CCB Probes Peter Obi, Saraki, David Mark, Ibori, Others Over Panama Papers Scandal

The Code of Conduct Bureau (CCB) has opened investigations into former Anambra State Governor Peter Obi, former Senate Presidents Bukola Saraki and David Mark, and four other individuals over alleged undeclared offshore assets and business interests linked to the Panama Papers and Pandora Papers investigations.

According to a report by PREMIUM TIMES published on Monday, October 26, 2026, sources within the bureau confirmed that case officers had been assigned to seven cases and had commenced investigations into the allegations.

Other individuals named in the investigation are former Minister of Aviation Stella Oduah, the late former Bayelsa State Governor Diepreye Alamieyeseigha, former Delta State Governor James Ibori, and retired Delta State judicial officer Stella Ogene.

The investigation is expected to examine whether the individuals complied with Nigeria’s laws governing asset declarations, private business interests and foreign bank accounts while serving in public office.

CCB Investigation Follows International Financial Disclosures

The Panama Papers and Pandora Papers were major international investigative journalism projects that exposed offshore financial arrangements involving politicians, businesspeople and other influential individuals across several countries.

The Panama Papers, published in 2016, were based on leaked documents from Mossack Fonseca, a Panamanian law firm that helped establish offshore companies. The Pandora Papers, released in 2021, drew on a separate collection of leaked documents involving offshore service providers in multiple jurisdictions.

Both investigations raised questions about the use of offshore companies to own properties, manage investments and conduct financial transactions outside individuals’ home countries.

Although offshore companies can serve legitimate business and investment purposes, questions arise when public officials allegedly fail to declare relevant assets or maintain business interests in circumstances prohibited by applicable laws.

PREMIUM TIMES, which participated in the international investigations, reported that the CCB had been asked to provide an update on its handling of allegations involving Nigerian public officials identified in the disclosures.

Peter Obi Among Those Under Investigation

Peter Obi, a former governor of Anambra State, was previously named in reporting connected to the Pandora Papers. A 2021 PREMIUM TIMES investigation examined his links to NEXT International (UK) Limited and raised questions about his continued directorship and certain offshore interests during his time in public office.

The report raised issues concerning the declaration of assets, business interests and compliance with provisions governing public officers. Obi was reported to have said he was unaware that certain jointly owned assets were required to be declared.

The allegations and questions raised in the earlier investigation are among the matters that may be relevant to the CCB’s review. However, the commencement of an investigation does not establish that a person has committed an offence.

Saraki and David Mark Also Named

Former Senate President Bukola Saraki and his predecessor, David Mark, were also linked to offshore financial arrangements in reporting based on the Panama Papers.

Previous investigative reports examined offshore companies associated with Saraki and members of his family, including questions about whether certain interests and assets were properly declared under Nigeria’s public service rules.

In Mark’s case, the Panama Papers investigation identified companies registered in the British Virgin Islands that were linked to him while he held public office. The reporting examined the implications of such interests under the rules applicable to public officials.

The nature, ownership and purpose of offshore arrangements can vary, and the existence of a company registered abroad does not by itself prove unlawful conduct. The CCB’s investigation will need to establish the relevant facts and determine whether any applicable legal provisions were breached.

Ibori, Oduah and Other Individuals Included

The investigation also includes former Delta State Governor James Ibori, former Aviation Minister Stella Oduah, the late Diepreye Alamieyeseigha and retired judicial officer Stella Ogene.

Previous reports concerning these individuals examined offshore companies, foreign property holdings and business interests, raising questions about asset declarations and the restrictions applicable to certain public officeholders.

The inclusion of Alamieyeseigha, who died in 2015, also means that any proceedings or measures relating to him would need to be considered in light of the applicable law and his death.

The CCB’s wider review could also extend to other Nigerians named in the Panama Papers and Pandora Papers, according to the report.

What the Law Requires of Public Officials

Nigeria’s Code of Conduct framework requires public officers covered by the law to declare their assets and comply with restrictions governing private business activities and foreign bank accounts.

The requirements are intended to promote transparency, discourage conflicts of interest and help identify potential abuses of public office. Where credible evidence of a breach emerges, the relevant authorities can take action in accordance with the law and due process.

The CCB is responsible for administering the Code of Conduct framework, while alleged violations that fall within its jurisdiction may be referred for proceedings before the Code of Conduct Tribunal.

The current investigations will therefore be significant in determining whether the allegations raised by the earlier disclosures warrant further legal action.

Transparency and Accountability in Focus

The renewed investigations have brought attention back to questions about how Nigeria handles allegations involving the financial interests of serving and former public officials.

For anti-corruption and accountability efforts to command public confidence, investigations must be conducted impartially, supported by evidence and concluded in accordance with established legal procedures.

The public will be watching for further information about the progress of the cases, whether additional individuals will be investigated and whether the bureau will announce any formal conclusions.

For now, the CCB’s reported action represents the commencement of investigations, not a final determination of wrongdoing by the individuals named.