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T.B. Joshua’s offshore shell company exposed by PanamaPaper

TB-Joshua-SCOANTemitope Joshua, the man in the Synagogue who is the founder of Synagogue Church of All Nations is in the news again. The influential preacher formerly known Fatai is undoubtedly one of the most sought after preacher in Africa. This is on account of the number of pilgrimage being made to his Ikotun synagogue every months from all over the world.
Based on his enormous contacts across the globe, it is not surprising therefore that his name has been spotted in the Panama newspaper leak of world famous running an offshore secret account.
According to an online medium, Premium Times, Files on the massive leaked data of a Panamanian law firm, Mossack Fonseca, has revealed that Joshua and his wife, Evelyn, own Chillon Consultancy Limited, a company incorporated on June 20, 2006 at the British Virgin Island (BVI).
Both owners own one ordinary share each, although the company, with registration number 1033675, is authorised to issue a maximum “50,000 no par value Shares of a single class.”
It remains unclear what businesses Joshua 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.
Joshua is the second Nigerian mega preacher shown to set up offshore companies in tax havens.
An April 2013 investigation had exposed Chris Oyakhilome, founder and leader of Christ Embassy, as incorporating Gmobile Nigeria Limited, an offshore firm in 2007, at the British Virgin Island.
Although other individuals were listed as shareholders and directors, that investigation was able to determine that the pastor’s teenage daughters – Sharon and Charlyn – were the real beneficial owners of the company.
Like many mega preachers in the country, Joshua is reported to live in opulence.
Last September, an online news website claimed the televangelist bought a Gulfstream G550 aircraft in April 2015.
According to website the jet, registered as “Synagogue of Nations,” was purchased using the Bank of Utah trustee as front. A Gulfstream G550 is sold for as much a $45 million and could take up to $3 million dollars in yearly maintenance cost.
On September 12, 2014, a guesthouse within his church collapsed, killing 116 people, most of them South Africans, who travelled to the Lagos headquarters of the church for pilgrimage.

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