In clear contravention of extant laws, Dapo Abiodun, the executive governor of Ogun State, is director of at least two offshore companies while also operating a foreign account, according to a report by Premium Times.
The report said the governor is also the ultimate beneficial owner of the companies incorporated in the British Virgin Islands.
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It established that Abiodun failed to declare the companies and whatever assets they hold in his asset declaration filings with the Code of Conduct Bureau.
The investigation is part of the global International Consortium of Investigative Journalists (ICIJ)-led Pandora Papers project, in which PREMIUM TIMES is a key participant.
Documents reviewed, Premium Times said, showed that Abiodun is the sole director and beneficial owner of Marlowes Trading Corporation, a company operating under the laws of the British Virgin Island.
The governor equally owns and failed to declare Heyden Petroleum Limited, another BVI company registered offshore.