Tuesday, 12 April 2016

#PanamaPapers Unveil Prophet T.B. Joshua’s Offshore Company

Prophet T.B. Joshua, the General Overseer of The Synagogue, Church Of All Nations (SCOAN) and his wife Evelyn, own Chillon Consultancy Limited, a company incorporated on June 20, 2006 at the British Virgin Island (BVI), reveals Panama Papers, a cache of 11.5 million leaked documents from a Panamanian law firm, Mossack Fonseca database.

According to the report released yesterday, Joshua and his wife own one ordinary share each, although the company, with registration number 1033675, is authorized to issue a maximum “50,000 no par value Shares of a single class.”

The report said it was not clear what businesses the mega prophet transacted with the shell company which has no physical presence in Tortola, the largest and most inhabited island at the British Virgin Island.

Chillon Consultancy Limited uses the office address of its registered agent, Mossack Fonseca (Akara Bldg., 24 De Castro Street, Wickhams Cay 1, Road Town, Tortola) as its contact information in the British Virgin Island, the report added.

Joshua becomes the second Nigerian mega preacher shown to set up offshore companies in tax havens. The media had in 2013 reported Chris Oyakhilome, founder and leader of Christ Embassy, incorporated Gmobile Nigeria Limited, an offshore firm in 2007, at the British Virgin Island.

Meaanwhile, the editor of the German newspaper that broke the Panama Papers story said yesterday he did not know exactly where his team’s source got the information but defended his decision to publish on the basis of the public interest.

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