In a landmark move aimed at revitalizing long-stalled infrastructure in Abia State, Governor Alex Otti has confirmed the successful acquisition of the Aba Mega Mall, a project that had been dormant for nearly a decade.
Speaking during a three-day revival crusade hosted by the Lord’s Chosen Charismatic Revival Ministries at the mall premises in Osisioma Local Government Area, Otti revealed that his administration had resolved all outstanding disputes tied to the property and completed financial settlements with all involved stakeholders.
“This complex, where you’re gathered today, was previously at the center of a long-standing conflict,” Governor Otti stated. “Just three weeks ago, we resolved the matter amicably. Everyone owed was paid even their banks were settled and the property is now officially back under the ownership of the Abia State Government.”
The governor emphasized that the settlement was achieved through negotiation, not force. “We asked each party, including the financial institutions, what was owed and paid in full. This wasn’t about confrontation, it was about closure and progress,” he added.
The Aba Mega Mall, once touted as a groundbreaking retail and commercial hub when launched in 2015, had become an emblem of stalled development after being left inactive under the previous administration.
Dr. Paul Obanua, Chairman and CEO of Greenfield Group PLC , the parent company of Greenfield Assets Limited, original developers of the mall — expressed appreciation for the government’s intervention. He praised Governor Otti for honoring his commitment and overseeing the settlement of debts linked to the project, which included outstanding loans with First City Monument Bank (FCMB).
Obanua described the resolution as a pivotal moment, saying, “This is more than a financial conclusion it’s a fresh start. Governor Otti’s leadership has not only lifted a decade-old burden but has also opened the door to renewed development across the region.”
His comments came shortly after FCMB’s Managing Director and CEO, Mrs. Yemisi Edun, presented a formal Letter of Non-Indebtedness to Greenfield, confirming that all financial obligations tied to the project had been cleared.
The path to this resolution began with an appeal made by Dr. Obanua on February 5, 2025, requesting state intervention to take over the uncompleted complex. Following swift negotiations, both Greenfield Assets and FCMB finalized the terms, clearing the way for the mall’s full transfer to the state.
Our correspondent learned that following the successful transaction, Dr. Obanua and Mrs. Edun also held discussions during the Offshore Technology Conference in Houston, Texas. There, they explored wider investment avenues, including industrial manufacturing innovation and foreign direct investment strategies in critical infrastructure and energy sectors.
With the property now firmly under state control, expectations are high that the Abia State Government will soon breathe new life into the site, positioning it once again as a centerpiece of economic activity and urban development in the region.
