Chairman and Chief Executive Officer of Greenfield Group PLC, Dr. Paul Obanua, has lauded Governor Alex Otti for fulfilling his promise and successfully facilitating the takeover of the long-abandoned Aba Mega Mall by the State Government.
Dr. Obanua, whose company, Greenfield Assets Limited, developed the multi-million dollar facility located in Osisioma LGA, described the government’s intervention as a “significant financial milestone” that ended a decade-long financial burden and paved the way for renewed development in the region.
Reacting to the development, Dr. Obanua expressed gratitude to Governor Otti for not only keeping his word but also ensuring that Greenfield’s bank loan was completely defrayed, an act that culminated in the presentation of a Letter of Non-Indebtedness to him by FCMB’s Managing Director and Chief Executive Officer, Mrs. Yemisi Edun.
The financial resolution was finalized following an appeal made by Dr. Obanua to Governor Otti on February 5, 2025, for the government to intervene and take over the project that had been abandoned since its commissioning in May 2015 under the previous administration.
“This remarkable achievement was made possible through the dedicated efforts of Abia State’s pragmatic and forward-thinking Governor, His Excellency, Dr. Alex Chioma Otti, OFR, who expertly facilitated the resolution of the financial commitments between Greenfield Assets Limited (a subsidiary of Greenfield Group PLC) and their partner, First City Monument Bank (FCMB), paving the way for the acquisition of the impressive Aba Mega Mall by the Abia State Government”, he stated.
With the transfer of ownership complete, Dr. Obanua and FCMB’s MD, Mrs. Edun, took advantage of the occasion to discuss broader investment opportunities at the ongoing Offshore Technology Conference (OTC) in Houston, Texas.
They explored innovative initiatives such as Industrial Manufacturing as a Service (IMaaS) and securing foreign direct investment in infrastructure and energy.
Recall that Governor Otti had publicly announced the State Government’s acquisition and full takeover of the Aba Mega Mall during a recent 3-day Mega Crusade organized by the Lord’s Chosen Charismatic Revival Ministries at the mall complex.
“I want to say that the place where you are (Aba Mega Mall complex), before now, there was a dispute. But just about three weeks ago, we resolved the dispute, paid off everybody that was being owed, and the place has reverted to the State Government”, Governor Otti declared.
He emphasized that the government pursued a peaceful resolution, ensuring that all parties with vested interests, including banks, were fully settled without coercion.
“We didn’t want to use force. We called all of them …how much are you being owed? We paid all, even paid their bankers. So, this place has become full property of Abia State Government”, the Governor affirmed.
“Those of you who know how Abia State Government works today; if you come back here in a few months, you would know that this place belongs to Abia State Government”, he added.
