Stella Ogene News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Before the new provision, individuals could launder suspicious funds through notorious secrecy and tax havens and hide behind shell....

A new law in the United Kingdom is requiring offshore companies investing in its property market to declare their beneficial owners, promising to reverse London’s notoriety for allowing the flow of suspicious funds into its real estate through offshore shell companies. According to BBC, any anonymous foreign company seeking to buy UK land or property will need to reveal the true owners. Foreign companies that refuse to disclose their true owner could face fines of up to £2,500 per day or up to five years in prison.

There has been no serious action taken by the Nigerian government or its relevant agencies since PREMIUM TIMES exposed..........

"We have conducted over 60 activities, many workshops and seminars for the judiciary, from the magistracy to appellate courts. Other beneficiaries include prosecutors and anti-corruption agencies."

The CCB, the agency dealing with corruption, conflict of interest, and abuse of office by public servants, says it is interested in the Pandora Papers revelations.