Sunday, July 6, 2025
  • About
  • Advertise
  • Careers
  • Contact
Newsroom Nigeria
  • Home
  • News
    • Across the Nation
    • Crime Watch
    • Metro
    • Political Arena
  • Politics
  • Opinions
  • Crime and Court
    • Judiciary
  • Business
    • Banking
    • Business and Economy
    • Business Life
No Result
View All Result
Newsroom Nigeria
Home POLITICAL ARENA

OBI’S “$20 MILLION INVESTMENT” YIELDED $3 MILLION, NOT $100m – ANAMBRA FINANCE COMMISSIONER

"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."

Newsroom Nigeria by Newsroom Nigeria
June 21, 2022
in POLITICAL ARENA
Reading Time: 2 mins read
0
SHARES
Share on FacebookShare on Twitter

Related posts

Viewpoint: When Power Mongers Regroup: Inside the ADC Circus, By Temitope Ajayi

Viewpoint: When Power Mongers Regroup: Inside the ADC Circus, By Temitope Ajayi

July 5, 2025
INEC Receives Applications To Register Obidients People’s Party (OPP), 109 Other Political Parties Registration

Viewpoint: Beyond BVAS: Quiet Reforms Reshaping Nigeria’s Elections, By Ezenwa Nwagwu

July 4, 2025
Ifeatu Onejeme, Anambra State Commissioner of Finance today clarified the actual  value of the investment former Governor Peter Obi made in SABMiller of South Africa in 2012. Contrary to the widely circulated claim by Obi, now a presidential candidate of the Labour Party, that the $20 Million investment is now worth $100 Million, Onejeme said is present yield on the invest is a paltry $3.7 million
According to the Commissioner, “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
ShareTweetSendShareShare
Previous Post

PELLER DUMPS APC FOR ACCORD OVER SENATE AMBITION

Next Post

Money Laundering: Court Revokes Mompha’s N200m Bail, Orders His Arrest

Related Posts

Viewpoint: When Power Mongers Regroup: Inside the ADC Circus, By Temitope Ajayi
POLITICAL ARENA

Viewpoint: When Power Mongers Regroup: Inside the ADC Circus, By Temitope Ajayi

July 5, 2025
INEC Receives Applications To Register Obidients People’s Party (OPP), 109 Other Political Parties Registration
POLITICAL ARENA

Viewpoint: Beyond BVAS: Quiet Reforms Reshaping Nigeria’s Elections, By Ezenwa Nwagwu

July 4, 2025
Viewpoint: Here I am, Buy Me! By Dare Babarinsa
POLITICAL ARENA

Viewpoint: Here I am, Buy Me! By Dare Babarinsa

July 2, 2025
TINUBU EMBARKS ON STATE VISIT TO SAINT LUCIA, ATTENDS BRICS SUMMIT IN BRAZIL
POLITICAL ARENA

Viewpoint: Tinubu’s Reforms Fueling a New Wave of Subnational Development By Sunday Dare

July 2, 2025
Lagos Assembly Commemorates World Parliamentary Day, Summons State Attorney-General, Others Over Executive Order
POLITICAL ARENA

Lagos Assembly Commemorates World Parliamentary Day, Summons State Attorney-General, Others Over Executive Order

July 2, 2025
GBENGA-HASHIM MOURNS THE PASSING OF LATE CHIEF C.O. ADEBAYO, HAILS HIS LEGACY
POLITICAL ARENA

GBENGA-HASHIM MOURNS THE PASSING OF LATE CHIEF C.O. ADEBAYO, HAILS HIS LEGACY

June 27, 2025
Next Post

Money Laundering: Court Revokes Mompha’s N200m Bail, Orders His Arrest

RECOMMENDED NEWS

INEC Announces Dates for Ekiti, Osun Governorship Elections

1 month ago

CBN SAYS BANKS WILL COLLECT OLD NAIRA NOTES AFTER EXTENSION DEADLINE

2 years ago

EFCC Arrests Operations Manager of a Commercial Bank for Hoarding New Naira Notes

2 years ago

Viewpoint: Olawepo-Hashim: The Return of a Crusader for Democracy and Good Governance

3 years ago

FOLLOW US

ADVERTISEMENT
ADVERTISEMENT

POPULAR NEWS

  • BREAKING: Nigerian Goalkeeping Legend,  Peter Rufai is Dead

    BREAKING: Nigerian Goalkeeping Legend,  Peter Rufai is Dead

    0 shares
    Share 0 Tweet 0
  • Family Releases How the Late Nigeria’s Legendary Goal Keeper, Rufai Dies

    0 shares
    Share 0 Tweet 0
  • Court Orders Final Forfeiture of Truck, Consignment of Solid Minerals  

    0 shares
    Share 0 Tweet 0
  • TINUBU MOURNS THE PASSING OF EX-SUPER EAGLES KEEPER PETER RUFAI

    0 shares
    Share 0 Tweet 0
  • Viewpoint: Here I am, Buy Me! By Dare Babarinsa

    0 shares
    Share 0 Tweet 0
Newsroom Nigeria

The NEWSROOM NIGERIA is an independent, liberal on – line news platform committed to the right of the individual to pursue his economic happiness, without undue interference of the state. It shall promote the rights of the individual; right to freedom of worship and conscience, and to hold opinions and impact same without hindrance, subject to such laws are as consistent with the constitution and necessary for the protection of the rights of others.

  • About
  • Advertise
  • Careers
  • Contact

© 2025 Newsroom Nigeria - Designed by Semasir Connect.

No Result
View All Result
  • Home
  • News
    • Across the Nation
    • Crime Watch
    • Metro
    • Political Arena
  • Politics
  • Opinions
  • Crime and Court
    • Judiciary
  • Business
    • Banking
    • Business and Economy
    • Business Life

© 2025 Newsroom Nigeria - Designed by Semasir Connect.