After years of formidable challenges and setbacks, it was with great joy and celebration that Dr. Paul Obanua, Group Chairman/CEO of Greenfield Group Plc, Mrs. Yemisi Edun, Managing Director of FCMB; and other dignitaries gathered on the sidelines of the ongoing Offshore Technology Conference (OTC) in Houston, Texas on the 5th of May, 2025. The occasion marked the successful financial exit of Greenfield Assets Ltd from the ABA Mega Mall project.
The event was not only a moment of triumph but also a reflection on a journey that began a decade ago. Dr. Obanua took attendees down memory lane, recalling the commissioning of the first 1,000 stores by former Abia State Governor Chief T. A. Orji, exactly ten years ago. He described the decade-long endeavor as a “wilderness journey,” marred by numerous man-made obstacles—attributing the challenges to the emergence of “a king who did not know Joseph.”
Dr. Obanua expressed profound appreciation to the current Governor of Abia State, Dr. Alex Otti, whose pragmatic approach and commitment to the state’s development played a pivotal role in reviving the mall. According to Obanua, Governor Otti’s intervention marked a turning point, breathing new life into the project and restoring hope after years of stagnation.
He also praised FCMB, the project’s principal financier, for their unwavering support during the turbulent years. Despite severe financial strain and uncertainty, FCMB demonstrated remarkable patience and loyalty—attributes that reflect a truly customer-centric financial institution.
In her remarks, Mrs. Yemisi Edun, Managing Director FCMB, recounted the difficult moments the bank endured due to its investment in the ABA Mega Mall. She emphasized that FCMB chose not to pursue aggressive recovery measures against the developer, understanding the genuine challenges he faced. This, she noted, illustrates the bank’s commitment to long-term partnerships and its belief in shared success.
With the conclusion of this phase of the project, the focus has now shifted to the commencement of the innovative concept of Industrial Manufacturing as a Service (IMaaS) in partnership with Foreign Direct Investors.
The gathering was a testament to perseverance, trust, and the power of collaboration. As one might echo from Shakespeare: “All’s well that ends well.”
FOREIGN DIRECT INVESTMENT ANNOUNCEMENT
Further lifting the spirits at the event, Dr. Paul Obanua announced the successful attraction of new foreign investment targeted at infrastructure and energy projects. The President of GoldQuest Capital Group Inc, Mr. Miguel Sanchez, reaffirmed his company’s commitment to partnering with Greenfield Group and financing viable initiatives in Nigeria and across Africa.
CONGRESSIONAL AWARD CONFERMENT
Adding yet another feather to his cap, Dr. Obanua and his company, Greenfield Group PLC, were honored with a Congressional Award in recognition of his contributions to business and community development.
The award was presented by the Office of the Eighteenth Congressional District of Texas signifying U.S. recognition of his impactful work.
This occasion marked a triple celebration for Dr. Paul Obanua and his partners: a successful project exit, fresh international investment, and prestigious recognition.
He deserves our best wishes as he continues to transform lives and communities in Nigeria, the United States, and beyond.
