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Peter Obi Questioned On Why He Invested $30m State Funds In His Family Business - Politics - Nairaland

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Peter Obi Questioned On Why He Invested $30m State Funds In His Family Business by Peacemaker5128: 8:57am On Oct 22, 2022
He claimed that the company belonged to his parents, and he had no dealings in it after he became a public officer.

Peter Obi, vice-presidential candidate of the Peoples Democratic Party (PDP), has explained why he invested $30million of Anambra State funds in a company owned by his family.

He stated this in response to a question by Kadaria Ahmed, host of ‘The Candidates’, a presidential town hall co-production between Daria Media and the Nigerian Television Authority (NTA), with support from the MacArthur Foundation, held in Abuja on Wednesday.

He claimed that the company belonged to his parents, and he had no dealings in it after he became a public officer.

His words: “I brought International Breweries into Nigeria and as a Governor of a state, they built a greenfield facility in the state and they came to me and said ‘as our partner, we want you to own 15 per cent of this company’, and I said to them ‘No, right now, I am the Governor of a state. I know the future of this brewery, and I want the state to own 10 per cent and since I’m no longer involved in the company, they can own five per cent’. I put in $30million of state money there, it’s now worth $100million and it’s still there. No other state in this country has such investment.

“Personally, I have no investment; not even one Naira. Go to Corporate Affairs Commission (CAC) today, if you will see Peter Obi as owner of one share; it doesn’t exist. Next is a family company started by my own parents and as their child, I ran it at a time, and when I became Governor, I had nothing to do with it till today.

“I also invested $50million of Anambra State money in the power sector. I invested several billions in banks, including banks where I have shares. I was investing for the future of the state; it doesn’t matter whether I have shares or not. If I have the opportunity of building the future of the state, wouldn’t I have done that?

“I left office in this country, leaving Anambra State with investment in cash of N75billion. The day I left office, we had $56million, N12billion in Fidelity Bank.; in Diamond Bank, $50million, N12billion; in Access Bank, $50million, N12billion for Anambra State. Show me in the history of this country where anybody has left 10 per cent of that.”

https://saharareporters.com/2019/01/30/peter-obi-questioned-why-he-invested-30m-state-funds-company-where-his-family-owns-shares
Re: Peter Obi Questioned On Why He Invested $30m State Funds In His Family Business by Peacemaker5128: 5:01pm On Nov 10, 2022
Corruption of the highest order
Re: Peter Obi Questioned On Why He Invested $30m State Funds In His Family Business by ElSudani: 5:24pm On Nov 10, 2022
"I invested several billions in banks, including banks where I have shares. I was investing for the future of the state; it doesn’t matter whether I have shares or not."

This confession will send him to jail in most countries. It is a matter of conflict of interest. You are not a hedge fund manager, you are a state governor. Since you personally benefited from these investments then you are corrupt.
You have shares in a company, you injected millions of public funds into it, how will this not benefit your own personal investments in these companies?
Nigerians should send people like this to jail, not Aso Rock.

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Re: Peter Obi Questioned On Why He Invested $30m State Funds In His Family Business by Ineedhustle247: 5:26pm On Nov 10, 2022
Peacemaker5128:
Corruption of the highest order

This one come be werin? cheesy

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Re: Peter Obi Questioned On Why He Invested $30m State Funds In His Family Business by gidgiddy: 5:29pm On Nov 10, 2022
He didnt invest Anambra State money in his familys business, SABmiller brewery is German owned, and not Obi's family business

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Re: Peter Obi Questioned On Why He Invested $30m State Funds In His Family Business by PraizHim: 5:30pm On Nov 10, 2022
My major concern is why APC go combine

Pablo Escobar & Osama Bin Laden in one ticket?

Columbia and Afghanistan in one ticket?

APC is this not wickedness

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Re: Peter Obi Questioned On Why He Invested $30m State Funds In His Family Business by infohenry(m): 5:33pm On Nov 10, 2022
Peacemaker5128:
Corruption of the highest order
At least he is talking about it, when will Tinubu tell Nigerians how he donated 460k USD to America government or how he became drug dealers association treasurer.
Re: Peter Obi Questioned On Why He Invested $30m State Funds In His Family Business by lexylaw40: 5:33pm On Nov 10, 2022
You invest state money in banks and companies you have shares and obi says he is not using state money to run his Bussines. E should be arrested already
Re: Peter Obi Questioned On Why He Invested $30m State Funds In His Family Business by Peacemaker5128: 7:17pm On Jan 06
lexylaw40:
You invest state money in banks and companies you have shares and obi says he is not using state money to run his Bussines. E should be arrested already
he should not be allowed to be walking freely
Re: Peter Obi Questioned On Why He Invested $30m State Funds In His Family Business by Peacemaker5128: 11:45am On Jan 07
Obidients are avoiding this thread

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