Peter Obi Questioned On Why He Invested $30m State Funds In Company Where His Family Owns Shares.

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.”

http://saharareporters.com/2019/01/30/peter-obi-questioned-why-he-invested-30m-state-funds-company-where-his-family-owns-shares

If i see a lucrative business there is nothing stopping me from asking everyone i know to invest in it. Whoever has money can invest! I see no issue here. My family and a state government i control, investing on the same lucrative business with their various monies is not a bad thing

Shayetet13:
If i see a lucrative business there is nothing stopping me from asking everyone i know to invest in it. Whoever has money can invest! I see no issue here. My family and a state government i control, investing on the same lucrative business with their various monies is not a bad thing

But against the law.

It means you are using state money to enrich yourself.

It's funny how you might think it's ok but when an unsubstantiated story of a relative of Buhari bought a distressed bank, many of you brought your daggers out.

There is nothing illegal in this investment. He didnt own the company that the state govt invested in..no conflict of interest in any way here.

rusher14:


But against the law.

It means you are using state money to enrich yourself.

It's funny how you might think it's ok but when an unsubstantiated story of a relative of Buhari bought a distressed bank, many of your brought your daggers out.

It seems BMC have night and day shift.

Obi

Nonsense. I see a clever thief.

Where in d world are public office holders allowed to invest State money into a family company.

Tell this to Chinese and see u go down 6ft. But will eat corruption here as 3sq meals daily.

fuccked up country.This is why africa will never develop.That action alone should carry a jail term but now he is contesting for a vice president position

PDP sympathizers will start defining investment

Next...?

BMC trying their best to discredit Atiku/Obi presidency let end the debate here.

Like for Atiku

Share for Buhari

rusher14:


But against the law.

It means you are using state money to enrich yourself.

It's funny how you might think it's ok but when an unsubstantiated story of a relative of Buhari bought a distressed bank, many of your brought your daggers out.

It is against what law? I hope you don't mind quoting the law for us?

obi just bringing atiku and pdp out.. chaii

this people think motivational speeches is the same thing as leadership

anjigirl:
fuccked up country.This is why africa will never develop.That action alone should carry a jail term but now he is contesting for a vice president position

Devoloping a state and increasing $30m to $100m should carry a jail term?

at least we have something to talk about.


BUHARI and OSIBANJO gave us many things to laugh about

The response is satisfactory subject to verification

Peter Obi is very empty. A mediocre personality. His mediocrity was glaring for all to see yesterday. God forbid Atiku/Obi win the coming elections. Their looting go pass GEJ’s government own

rusher14:


But against the law.

It means you are using state money to enrich yourself.

It's funny how you might think it's ok but when an unsubstantiated story of a relative of Buhari bought a distressed bank, many of your brought your daggers out.

Bunkum statement. He invested state money in a business venture that has enriched the state.

Bet Donald Trump seems to be pushing towards building his controversial border fence through his company now .

Heard him say questioners shouldn't worry how he'll get it done coz its his thing.

How many things that APC invested in has yield anything?


Mumu BMC crew looking for just anything to discredit Obi, as if they were the ones they won't embezzle the whole government & still their investment would not yield anything.


APC is only best in ruining any company, state or country the touch.

Smart move by obi those saying it is against the law what do you know about the law have you visited anambara state before that state is steadily progressing thanks to people like obi those saying rubbish what has your governor done for your state so far to the best of my knowledge nobody in anambara is crying faul by obi...hypocrite everywhere

All I can say is Atiku and Obituary

Just like a good student, Obi thrived/shone with what was supposed ro be a knotty question...

The joke reverted to Kadaria who was doing a poor job for APC...

Thief
Like onnoghen like Chinco Obituary

Dear BMC,
It seems you have to work harder. You thought AtikuObi's performance would be as disgraceful as that of your lifeless one. But, since nothing of such happened, you have started foaming in the mouth. Well, you all will be alright. We still love you guys despite the fact that you don't love your life.
From a concerned Nigeria.

Errrm
I just finished streaming the interview on YouTube and I'd say that ,on a general note, I wasn't impressed.
There are implications to the answers made by Peter Obi especially. He wouldn't answer the questions but would throw them back, and also points stuffs in a direction I'd break down with their logical implications below. And as a matter of fact, he cared less if he was wrong as long as it paid or he wasn't caught. Same thing for Atiku, especially on the latter.

*If you steal money to feed the society, it's ok since the end of the outcome is good.
Question: What about where the money was taken from?
*If you can't prove God exists, then he doesn't exist.
Why: Because according to the Atiku/Obi/PDP logic, if you can't prove Atiku guilty of any corruption allegation, as a matter of fact, he didn't commit any.
Atiku expressly claimed OBJ investigated him more than any other politician/person and yet found no evidence for his allegations.

Those above break downs were the overtones of the interview; it doesn't matter if it's legal, but as long as Obi invested $30mil to result $100mil, it's ok. Clearly, the ends justify the means here. And also, if you've no evidence, it never happened.





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liohan:

MrSix:
Errrm

Peacemaker5128:
Thief
Like onnoghen like Chinco Obituary

feelgoodstuffs:
All I can say is Atiku and Obituary

Sannisege:
Peter Obi is very empty. A mediocre personality. His mediocrity was glaring for all to see yesterday. God forbid Atiku/Obi win the coming elections. Their looting go pass GEJ’s government own

Ray97:
obi just bringing atiku and pdp out.. chaii

this people think motivational speeches is the same thing as leadership

Jaguntemmy:
PDP sympathizers will start defining investment

anjigirl:
fuccked up country.This is why africa will never develop.That action alone should carry a jail term but now he is contesting for a vice president position

correctguy0900:
Nonsense. I see a clever thief.

Where in d world are public office holders allowed to invest State money into a family company.

Tell this to Chinese and see u go down 6ft. But will eat corruption here as 3sq meals daily.

GoTV:

rusher14:


But against the law.

It means you are using state money to enrich yourself.

It's funny how you might think it's ok but when an unsubstantiated story of a relative of Buhari bought a distressed bank, many of your brought your daggers out.

Lazy Nigerians Read!!! This is one of the many reasons this country is in comatose presently.


...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.

Sannisege:
Peter Obi is very empty. A mediocre personality. His mediocrity was glaring for all to see yesterday. God forbid Atiku/Obi win the coming elections. Their looting go pass GEJ’s government own

How? Because he invested on behalf of his state? He's empty If he's empty thrn APC candidate is what pls?

Other state governors should learn from him.