DOLLAR VALUE OF PETER OBI’s INVESTMENT FOR ANAMBRA IS NOW ABOUT US$3.7million OR US$5.3 million depending on exchange rate

Given the repeated fake news about the current dollar value of the investment by the Peter Obi administration in SABMiller, it has become imperative to clarify the matter in public interest.

The Peter Obi Administration invested the sum of N1,955,535,247.00 (equivalent of approximately US$12,616,356.43 at the then average CBN exchange rate of N155.00/$1.00) in Intafact Beverages Limited, a green-field brewery being set up in Onitsha by SABMiller Breweries of South Africa in 2012. The Naira equivalent of this investment is stated and carried in the Reports of the State Accountant General with the Financial Statements for the fiscal years ended 31st
December since then. These are public documents.

Intafact Beverages was subsequently consolidated into International Breweries Plc when the parent company, SABMiller of South Africa was acquired by Anheuser-Busch InBev (AB InBev), the world's largest brewer. Based on this development, AB InBev
consolidated and merged all its brewery operations in Nigeria under International Breweries Plc and all shareholders of Intafact Beverages Limited, including Anambra State Government (ANSG), received shares of
International Breweries Plc for their respective investments.

ANSG received and still holds 407,321,264 ordinary shares of International Breweries Plc in exchange for its investment in Intafact Beverages Limited . Based on the NGX closing price of N5.50 as at 20/6/22, these shares were valued at N2,240,266,952 on
that date. Based on the Central Bank of Nigeria I&E exchange rate of N415.75/US$1.00 on same June 20, 2022, this investment was valued at an equivalent of approximately US$5,388,495.37 (and at N604/$1.00 parallel market rate, only US$3,709,051.24).

We do not want to join issues with the purveyors of the fake news but only need to state the facts to inform the public.

Thank you.
Ifeatu Onejeme
Commissioner of Finance

Super1759:
Truth is that both the marketing and demarketing is growing his popularity fast fast.

It's a plus to the campaign
Reno, sowore, etc using their platforms to preach PO is doing him good.

Unfortunately no one is talking about Apc or Pdp or even the present government.

Phewww

PoliteActivist:
Obi's massive popularity will neither be enhanced nor diminished by all these minutae because it's not based on any of these.
His popularity is because of his words, behavior, and general comportment over the years. For anything to affect that popularity it has to be something NEW AND MASSIVE, not all these minutae from 40 years ago!

SensualMan1:
T

Karlovych:
I see a cocaine baron urinating on his clothes because of this news

This I have seen

SmartPolician:


No sane person can proudly campaign for Tinubu because we already know his story.

The problem with most Nigerians is that they are deeply attached to their tribe and religion.

Regrettably, they prefer those affiliations over competence.

Spaxon:
They should leave this Peter Obi alone.

Allow him rest.

He's only doing his job

Everyone is just trying to shade him.

Makes me feel there's something about him they're envious about ..