Pandora Papers: Peter Obi Reveals How He Made His Money

Peter Obi
Peter Obi

Former governor of Anambra State Peter Obi, has name some of the businesses he was into before going into politics.

The former governor said he was a trader who ventured into banking before becoming a governor.

Obi, a vice-presidential candidate of the Peoples Democratic Party in the 2019 general elections said this during an interview on The Morning Show, an Arise TV programme that aired on Monday.

He made this disclosure amid allegations from a report inspired by Pandora Papers which listed him as one of the personalities who covertly set up and operated businesses overseas, including in notorious tax and secrecy havens in the ways that breached Nigerian laws.

In his reaction to the report, Obi had said, “I did not in any respect whatsoever violate any law before, during and after my stewardship as the governor of Anambra.”

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He added, “I think that the authors displayed ignorance on matters of Trust and International Investment Practices.”

Answering a question on how he made his money before becoming a governor during the Arise TV programme monitored by VANTAGE NEWS, Obi said he ran a planned market management company.

He added that he “was the sole importer of Heinz salad cream, just to give you an example of one company.

“I was the sole distributor of South African Breweries now International Breweries. I was also bringing in Ovaltine.

“The company I was with before, I left it for my brother who took over and paid me off. That company became the Next Cash and Carry which you see in Port Harcourt and Abuja.”

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He further revealed that he used to import wine back in the days, adding that “everyone knew I was a very big trader.”

He said, “I had a very good business but went into banking.

“I was sitting in the board of three banks and was the chairman of one before I became a governor.”

Obi also disclosed that he had major shares in the banks where he was a board member.

But he stated that joining politics made him poorer even though he doesn’t regret the decision he took.


Comments expressed here do not reflect the opinions of Vantage News Nigeria or any employee thereof.

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