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Last October, Nigeria’s biggest indigenous oil and gas company, Oando Plc, made history for the wrong reason when it announced a loss of N184 billion in the 2014 financial year. The loss was the biggest ever recorded by any Nigerian company. While its shareholders bore the brunt of the bleak financial year, the company’s group chief executive, Wale Tinubu and his deputy, Omamofe Boyo, might be doing just fine as they had for years incorporated and operated a cluster of shell companies in notorious offshore jurisdictions. Mr. Tinubu seems to be making so good a return from his shell companies that in 2008 he agreed to pay a front as much as $20,000 monthly to manage all of his offshore transactions. Details of the offshore assets of the two top bosses at Oando Plc were among the revelations contained in the leaked massive internal data belonging to Panamanian law firm, Mossack Fonseca. The revelations are products of an investigation, spanning over a year by the International C...

The Senate Committee on Ethics, Privileges, and Public Petitions on Monday summoned Danladi Umar, the Chairman of the Code of Conduct Tribunal (CCT), who is presiding over Bukola Saraki’s corruption trial. Mr. Saraki, the Senate President, is facing 13 counts of false assets declaration and fraud before the CCT. According to The Nation newspaper, Justice Umar‎ was asked to appear before the Committee “unfailingly” by 2 p.m. on Thursday. The invitation came hours after the judge ruled that Mr. Saraki’s trial would sit daily between 9 a.m. and 6 p.m., with a one hour break in between. The Senate president’s lawyer had argued for the trial to hold only when the Upper Chamber is not in plenary, but Mr. Umar insisted that Mr. Saraki, and not the Senate, was on trial. The letter of invitation requested Mr. Umar to “come personally” with 12 copies of any submission he wishes to present. The Senate Committee said it was inviting the CCT chairman following allegation of bribery agai...