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.

By Vivian Chima

Eunisell Interlinked Plc has released its unaudited financial statements, reporting a pre-tax profit of N319.6 million for the nine-month period ended 31st March 2025.

This marks a 405% year-over-year increase from N63.2 million reported in the previous year, with the profit for the last three months totaling N51.9 million.

The company’s revenue for the third quarter rose to N332.2 million, up from N247.5 million reported in the previous year.

This growth contributed to a cumulative revenue of N1.3 billion, representing a substantial 285% increase compared to the N339.3 million reported in the same nine-month period last year.

In terms of costs, the cost of sales for the nine-month period surged by 299%, escalating from N195 million to N777.1 million, with the third-quarter figure recorded at N195.1 million.
Despite this increase in costs, gross profit for the nine months soared to N529.4 million, up by 267% from N144.3 million.

On a less positive note, operating expenses for the nine-month period ended 31st March 2025 experienced a significant spike of 172%, rising to N177.3 million from N65.1 million.

Nevertheless, Eunisell Interlinked Plc managed to achieve notable growth in profits from core operations, which soared by 345%, climbing from N79.1 million in the previous year to N352.07 million, with the three-month profit figure at N64.3 million.

Key highlights (9 months: 2024 vs 2023)
Revenue: N1.3 billion, +285% YoY
Cost of sales: N777.1 million, +299% YoY
Gross profit: N529.4 million, +267% YoY
Operating expenses: N177.3 million, +172% YoY; Profit from operations: N352.07 million, +345% YoY; Pre-tax profit: N319.6 million, +405% YoY
Total Assets: N938.1 million, +5% YoY
Retained earnings: N120.9 million, +320%.

As of the 21st of April 2025, shares of Eunisell Interlinked are currently priced at N10.75, with a year-to-date performance of -44%. In 2024, the company achieved an impressive year-to-date performance of 502.19%.

Governor of Abia State Dr. Alex Otti has once again restated his determination to make Abia, a model State that does not discriminate against people based on where they come from, maintaining his stance that so long as you live, work and pay your taxes in Abia, you are from Abia.

A statement signed by the Chief Press Secretary to Governor Otti Ukoha Njoku Ukoha said the Governor spoke on Saturday, 18th January, in Aba, during the wedding ceremony of the son of STARLINE CEO Mazi Clement Owunna, Clement Owunna Jr., and his wife, Chinelo.

Governor Otti commended Mazi Owunna for not giving up on Aba even when there were compelling reasons to do so. He disclosed that it was people like Mazi Owunna who believed that Aba and Abia could be rebuilt that made him give up his well-paying banking Group Managing Director (GMD) job to lead the struggle to liberate Abia.

“You know, in the old structure where they say you are from Imo, you are from Anambra, etc, in that structure, he (Clement Owunna) believed in Abia.

“I said to myself, so, I have stayed here and become a very successful Managing Director and Chief Executive Officer, but by the time you retire, there would be no home to go to. So, I sacrificed that job and started struggling for almost ten years, and today, we are here,” the Governor stated while encouraging the people to prayerfully stick to and work on their dreams, saying that if it does not happen today, it will happen tomorrow or next.

He described his achievements in the last 19 months as dress rehearsal, assuring that greater things are coming. “What you see in Abia State in the last 19 months is actually what I will call dress rehearsal. You ain’t seen anything yet. I’m not boasting, I know what this State can do.

“The first thing we abolished is State of origin. If you stay here, if you live here then you are from here”, the Governor asserted amidst applause from the audience.

He explained that when he said he was going to appoint Ide John Udeagbala as the Mayor of Aba North, people doubted him, but he appointed him, and he went on to transform Aba North Local Government Headquarters in just a year. He said the same thing happened recently when he appointed Edo-born Benson Ojeikere as the Head of Service of the State; some people said he’s from Edo, hence, should not be appointed. He said that he conducted an examination and oral interviews for the prospective candidates; Mr. Ojeikere came top and was appointed.

“The other day, I appointed somebody as the Head of Service of the State; some people say he is from Edo; I don’t know about that. He came here in 1999 and he has been here. He didn’t come on his own volition. God brought him here through Youth Service, and he distinguished himself as the best corper, and he was retained in the Civil Service… And somebody wants to tell me he’s not from Abia State”‘, he stated.

“What we are building here is a model State. No matter what anyone says, we are focused and determined. If you come to Aba in the next one year, you would probably not recognize Aba.

“Very close here, there was an abandoned project called Enyimba Hotel. You would probably see a Radisson Blu sitting on it. And then you see a conference center by the side and you see another leisure park opposite it. This is our place, we must fix it”, the Governor declared.

He thanked the people for being supportive of his administration and assured them that he would never tamper with the State’s resources but would use them to fix the State.

The marriage ceremony attracted very important personalities from all walks of life, including the wife of the Governor, Her Excellency, Mrs. Priscilla Chidimma Otti, who attended with her husband.