3 of Nigeria’s biggest pastors have been exposed for illegal international business dealings by the Pandora Papers.
Pastors David Oyedepo of Living Faith Church Worldwide, Chris Oyakhilome of Christ Embassy and the late Temitope Joshua of the Synagogue Church of all Nations were particularly mentioned in the investigative report.
They are all accused of setting up illegal family offshore companies in the British Virgin Island and other tax havens.
Oyedepo’s offshore company popped up as part of the ongoing global Pandora Papers reporting project led by the International Consortium of Investigative Journalists (ICIJ).
Already mentioned in the fraudulent financial dealings include serving and former public officials and politicians like Governor Atiku Bagudu of Kebbi State; former PDP Vice-presidential candidate, Peter Obi; APC chieftain Senator, Stella Odua and Governor Gboyega Oyetola of Osun State.
The latest report published oi Premium Times, revealed that in August 2007 Oyedepo contracted the services of Business Centrum Limited, a London-based agent, to help him set up a company in the infamous tax haven for him and his immediate family.
Business Centrum subsequently subcontracted Trident Trust Group, one of the world’s leading secrecy enablers and one of the most notorious providers of offshore corporate and financial services.
The company, Zadok Investments Limited, was set up on August 20, 2007 with 50,000 ordinary shares with a value of $1.00 each.
Although the directors of the company are Oyedepo and his two sons – David (junior) and Isaac, every member of Oyedepo’s family are listed as shareholders.
Oyedepo and his wife, Faith, are the largest shareholders with 30 percent of shares each.
His children – David (junior), who in 2016 was appointed resident pastor of the headquarters of the church, known as Faith Tabernacle, has 10 percent while Isaac, who is the resident pastor of the church’s branch in Maryland, the United States of America, also has 10 per cent of the shares.
Love and Joy – the two daughters of the cleric – were similarly given 10 percent shares each.
The documents did not reveal the exact businesses and transactions the offshore company was set up to conduct.
According to Pandora Papers, the entity however appears to be the family’s investment vehicle under which the family’s wealth is warehoused for offshore management.
When reached via his personal email address, Bishop Oyedepo did not respond to questions sent to him seeking his comments.
Questions were also sent to the publicised emails of his church, including that of the church’s branch in Maryland. Some of the emails returned undelivered while we did not receive any response for those that delivered.
The telephone number Oyedepo listed in company documents failed to connect
Read also:
Peter Obi Breaks Silence on Pandora Papers Allegations
Living Faith Church Worldwide, also known as Winners’ Chapel
Pandora Papers: 3 Of Nigeria’s Biggest Pastors Exposed
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