The Onitsha Zone Shareholders’ Association has raised alarm over an alleged plan by Afrinvest, a firm owned by former Edo State Governor Godwin Obaseki, to sell a ₦100 billion bond and convert it into personal shares.
Led by Bishop Goodluck Akpore, the group made their concerns known during a protest visit to Governor Monday Okpebholo at the government house. They highlighted potential economic harm to the state and its communities, urging the governor to investigate and address the issue.
The association accused Obaseki of using Afrinvest to orchestrate the bond transaction involving Okomu Oil Palm and Presco PLC, suggesting a scheme for personal enrichment. Bishop Akpore also criticized the oil companies for failing to compensate host communities and neglecting their tax obligations despite significant profits.
“A trailer load of palm oil valued at ₦80 million leaves Edo State without proper tax remittance or community compensation,” Akpore stated.
Governor Okpebholo responded by pledging a comprehensive investigation into the allegations. He assured the group of his administration’s commitment to protecting Edo State’s interests and vowed to address any discovered irregularities, emphasizing the importance of dialogue and accountability from the companies involved.
The Onitsha Zone Shareholders’ Association, which monitors corporate activities in Edo, Delta, and other states, reiterated the need for transparency and fair contributions from Presco and Okomu Oil Palm PLC.
