From Okey Sampson, Umuahia
The Abia State government has fully acquired the Aba Mega Mall in Osisioma LGA by paying off all partners with vested interests. Governor Alex Otti announced this during an event in Aba, stating that the long-abandoned, multi-million-dollar facility will soon become an international multi-purpose hub.
Otti emphasised his commitment to reviving the mall and using its assets for industrial purposes to benefit Abians. “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,” he said.
He clarified that no force was used in the takeover. “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,” Otti added. The mall, idle for years despite significant investments by former partners, will be repurposed in the coming months.
Dr Paul Obanua, Chairman of Greenfield Assets Limited, a major partner, praised Otti for resolving the financial disputes. “This remarkable achievement was made possible through the dedicated efforts of Abia State’s pragmatic and forward-thinking Governor Otti, 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,” Obanua stated. He noted that clearing the bank loan marked a significant milestone, allowing his company’s exit from the project.