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Pandora: Secret deal between Sambo Dasuki’s family, billionaire contractor exposed
Pandora Papers have uncovered a secret offshore deal between a Nigerian multi-billionaire businessman, Leno Adesanya and family members of Sambo Dasuki, a former National Security Adviser.
According to Premium Times, some time in 2013, Adesanya approached a secrecy seller in the British Virgin Islands, Trident Trust Company Limited, to help Dasuki’s family members to register a shell company, Hydropower Investments Limited.
It said during the 37 months that Dasuki lasted as NSA, Adesanya had at least two knotty multibillion-dollar issues to resolve with the Nigerian government which resulted in the payment of about $55.3m to him by Jonathan’s administration.
But Dasuki denied asking Adesanya to register the company for his children.
In the documentation submitted for the company’s incorporation, Adesanya indicated that Hydropower Investment was set up to own real estate and investment portfolios.
He indicated that the company would, on behalf of the Dasuki family, hold 1.5 million shares in Sino Africa (Nigeria) Limited, a 19-year old company that has him (Adesanya) and a certain Uche Nwokedi as directors.
Hydropower Investments, company documents also showed, will also hold for the Dasukis 10 million shares in Sunrise Power & Transmission (Nigeria) Co. Limited, a company that is locked in a long-drawn dispute with the Nigerian government over the Mambilla power project.
The legal dispute is stalling the key funding from the Chinese EXIM Bank to execute the Mambilla project, an ambitious electricity generation infrastructure considered key to tackling Nigeria’s long-standing power sector crisis.
The shell company, Hydropower Investments, was registered on November 14, 2013, with Adesanya and Abubakar Atiku Dasuki, a son of a former National Security Adviser, Sambo Dasuki, as directors.
But while Adesanya serves as the face of the company and uses his Lagos home as the contact address for the offshore firm, he holds no single share.
The shareholders and ultimate beneficial owners of the company are Abubakar Atiku Dasuki, (17,000 shares), Hassan Sultan Dasuki (16,500 shares) and Asmau Iman Dasuki (16,500 shares).
Abubakar was 31 years old at the time the company was established while Hassan and Asmau were 18.
The three shareholders are children of former NSA Dasuki, one of the most powerful figures in Nigeria at the time the company was incorporated, and awarded a combined 11.5million shares in Adesanya’s companies – Sunrise and Sino Africa.
There is no evidence that Dasuki or his children paid for the shares. When the registration agent, Trident Trust Company, sought to know how the shareholders sourced the funds with which they planned to acquire the assets, Mr Adesanya simply provided a vague response, telling them the assets would be “carried interest through a loan to be arranged by the sponsor (Leno Adesanya) of the project.”
It remains unclear why Adesanya would provide a loan to buy several million shares from his own companies in favour of the children of one of the country’s most powerful political personalities at the time.
Adesanya, speaking through his representative, said he derived no favours from Dasuki and added that “the children wanted to start doing business and they were advised by me to set up an offshore company for discretionary purposes.”
Dasuki said, through a representative, he did not ask Adesanya to register the company for his children. He said businesspeople sometimes render unsolicited favours to government officials even without their knowledge.
He added that, moreover, his children were adults, who could make business decisions on their own.
Daily Trust
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Ex-Kano emir Bayero cancels Sallah durbar amid tension
Ex-Kano emir Bayero cancels Sallah durbar amid tension
The 15th Emir of Kano, Aminu Ado Bayero, has announced the cancellation of this year’s Sallah festivities, citing the need to maintain peace and security in the state.
In a broadcast, the Emir expressed regret over the decision but emphasized that ensuring the safety of lives and property remains his top priority.
“Following the people’s mandate bestowed upon us and our commitment to their protection, we find it necessary to withdraw any arrangements made for the Sallah celebrations given the current situation,” the Emir stated.
He acknowledged that the decision was influenced by consultations with respected religious leaders and other concerned stakeholders.
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He further stressed that while the Sallah Durbar is a cherished tradition, it should not come at the expense of peace and stability.
“Sallah Durbar is not a do-or-die affair for us. If it risks becoming a source of chaos, loss of lives, or destruction of property, then it is best to shelve it,” he said.
The Emir expressed hope that this decision would contribute to lasting peace in Kano and the nation at large.
He also extended his apologies to the people of Kano, urging them to embrace the move in the interest of the state’s well-being.
Bayero had earlier written to the police to notify them of his intention to hold Durbar, raising concerns about likelihood of violence since Muhammadu Sanusi, the 15th Emir of Kano, was planning similar event.
Ex-Kano emir Bayero cancels Sallah durbar amid tension
metro
Reps pass bill to strip Vice President, governors, deputies of immunity
Reps pass bill to strip Vice President, governors, deputies of immunity
The House of Representatives on Wednesday passed for second reading a constitutional amendment bill seeking to remove the immunity conferred on the Vice President, Governors and their Deputies.
The lawmaker said the move is to curb corruption, curb immunity, eradicate impunity and enhance accountability in public office.
The constitutional amendment Bill sponsored by Solomon Bob (PDP, Rivers) reads: “A Bill for an act to alter the constitution of the Federal Republic of Nigeria, 1999 to qualify the immunity conferred on the President, remove the immunity conferred on the Vice President, the Governors and their Deputies, in order to curb corruption, eradicate impunity and enhance accountability in public office and for Related Matters”.
Section 308 of the constitution confers immunity on the President, Vice President, Governors and their deputies, exempting them from criminal and civil prosecution while in office.
The House also passed for second reading, a constitutional amendment Bill to create a constitutional role for traditional rulers, while providing for the recognition of the advisory role for them in the constitution.
The two bills are part of the 42 on devolution of power, strengthening of institutions, state creation, traditional rulers citizenship, fundamental rights and objectives and local government passed by the House.
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On Tuesday, the House passed 39 constitutional alteration bills for second reading.
While passing a bill to provide for stronger measures and checks for the sustenance of autonomy of local government system in the country, it also passed for second reading another constitutional alteration bill seeking to remove local government as a tier of government constitutionally recognised and funded by the Federal Government.
The second bill sponsored by Solomon Bob (PDP, Rivers) seeks to vest the creation and funding of local government on the states.
The House is also seeking to amend the constitution to review the framework for local government administration, establish a robust legal legal regime to strengthen administrative efficiency, promote transparency, accountability and deepen democratic practice in the local government.
On state creation, The Nation observed that a bill for the creation of Etiti State from the five South eastern States was again read for the second time even though similar bill was passed for second reading.
The bill for the creation of Etiti state sponsored by Amobi Ogah and four others was first passed for first reading on the July 11, 2025 while a second bill on the same subject matter sponsored by Deputy Minority Whip, George Ozodinobi was listed and passed for second reading on Tuesday.
Reps pass bill to strip Vice President, governors, deputies of immunity
metro
Businessman collapses in court during trial over $578,000 cash seizure
Businessman collapses in court during trial over $578,000 cash seizure
A businessman, Okorie Sunday, who was arrested on March 19 at Murtala Muhammed International Airport, Lagos, with $578,000 in cash, collapsed in court during his trial on Wednesday, March 26.
Okorie appeared before the Federal High Court in Lagos, where his trial commenced at 8:30 AM. However, he collapsed just as the court registrar was about to re-read the charges against him.
Court officials and security personnel rushed to his aid, and proceedings were briefly halted.
Previously on Tuesday, Okorie had been arraigned in court by the Economic and Financial Crimes Commission (EFCC) on four counts related to money laundering and a currency scam.
He pleaded not guilty to the charges during his arraignment before Justice Deinde Dipeolu.
After a brief agreement from both parties for a swift trial, Okorie was remanded in custody and the case was adjourned to Wednesday.
During the resumed hearing on Wednesday, Okorie’s lawyer, Uche Okoronkwo, informed the court that his client wished to change his plea from not guilty to guilty.
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The EFCC’s counsel, Chineye Okezie, confirmed that Okorie indeed wanted to plead guilty to the first two counts, and requested the withdrawal of the third and fourth counts. Justice Dipeolu agreed to the request and directed that the charges be re-read.
However, as the registrar began to read the charges, Okorie collapsed without warning. His wife and daughter, who were present in the courtroom, were visibly distraught, with both of them breaking into tears.
At the time of writing this report, Okorie had been rushed to a hospital for medical attention, and the proceedings were temporarily halted.
The arrest took place when Okorie arrived in Lagos from Johannesburg aboard South African Airways Flight SA60 on March 19.
Initially, he declared only $279,000 at the airport’s currency declaration desk. However, a routine search revealed an additional $299,000 concealed in multiple packages, bringing the total sum to $578,000.
Authorities also discovered €100 and a counterfeit $250 note among the undeclared funds.
The EFCC charged Okorie with violating Sections 3(5) of the Money Laundering (Prevention and Prohibition) Act, 2022, and Sections 3(1)(a), 5(1)(b), and (2) of the Counterfeit Currency (Special Provisions) Act, Laws of the Federation of Nigeria, 2004.
Businessman collapses in court during trial over $578,000 cash seizure
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