Pandora Papers: Peter Obi explains how he made money

Former Anambra State Governor Peter Obi on Monday spoke on how he made money following findings from Pandora Papers that he secretly set up and operated businesses overseas trying to escape paying taxes.

Obi, who was a vice presidential candidate of the Peoples Democratic Party in the 2019 election, spoke during an interview on Arise TV.

He said he ran a number of thriving firms including a market management company and was the sole importer of Heinz salad cream.

He said, “I was the sole engineer of South African Breweries. I was also bringing in Ovaltine. The company I was with before I left it for my brother who took over and paid me off. That company became the Next Cash and Carry which you see in Port Harcourt and Abuja.”

Obi also said that he used to import wine back in the days, adding that “everyone knew I was a very big trader.”

He said, “I had a very good business but went into banking. I was sitting in the board of three banks and was the chairman of one before I became a governor.”

Obi revealed that he had major shares in the banks where he was a board member.

He pointed out that joining politics made him poorer although he said he had no regrets with the decision.