At least $500 million has been recouped by tax authorities across the world after the Panama Papers revelations published in 2016, the International Consortium of Investigative Journalists, ICIJ, has said.
The ICIJ on Wednesday said that Spain alone collected $122 million after an investigation into the affairs of tax residents who stockpiled money offshore. But unlike other parts of the world, no such development was recorded in Nigeria where many notable individuals got mentions in the infamous database.
The Panama Papers investigation, a series of global investigations into offshore entities, spanning over a year by the ICIJ, German newspaper, Suddeutsche Zeitung, and 100 other media organisations across the world, was awarded The Pulitzer Prize for Explanatory Reporting.
The investigation exposed offshore companies linked to more than 140 politicians in more than 50 countries – including 14 current or former world leaders.
It also uncovered offshore hideaways tied to mega-banks, corporate bribery scandals, drug kingpins,