The Abia State Government has officially acquired the Aba Mega Mall, situated along the Enugu–Port Harcourt Expressway in Osisioma Ngwa Local Government Area.
The state government also settled outstanding payments to partners with vested interests in the complex.
Governor Alex Otti disclosed the acquisition during a three-day Mega Crusade organized by the Lord’s Chosen Charismatic Revival Ministries at the mall complex.
He revealed that the decision to take over the mall was finalized about three weeks ago, following peaceful negotiations and the settlement of all debts owed to former investors and their financial partners.
“I want to say that the place where you are—Aba Mega Mall Complex—before now, there was a dispute. But just about three weeks ago, we resolved the dispute, paid off everybody that was being owed, and the place has reverted to the state government,” Otti announced.
The governor clarified that no force was used during the acquisition, and the mall, which had been lying dormant for years after its commissioning in May 2015, was peacefully handed over. He assured that the Abia State Government plans to revitalize the massive property for public benefit.
“We didn’t want to use force. We called all of them: how much are you being owed? We paid all, even paid their bankers. So, this place has become the full property of Abia State Government. If you come back here in a few months, you will see the transformation,” Otti added.
The acquisition followed a request made by Dr. Paul Obanua, the Chairman and CEO of Greenfield Assets Limited, a subsidiary of Greenfield Group PLC, during a meeting with Governor Otti in February 2025. Obanua sought the governor’s intervention to take over the project, which had been abandoned by previous administrations despite significant investments.
Reacting to the takeover, Dr. Obanua expressed gratitude to Governor Otti for fulfilling his promise and rescuing the project, including defraying the company’s bank loan that had lingered for a decade.
“This remarkable achievement was made possible through the dedicated efforts of Abia State’s pragmatic and forward-thinking Governor, Dr. Alex Chioma Otti, who facilitated the resolution of the financial commitments between Greenfield Assets Limited and their partner, First City Monument Bank (FCMB), paving the way for the acquisition of the impressive Aba Mega Mall by the Abia State Government,” Obanua said.
The Managing Director and CEO of First City Monument Bank (FCMB), Mrs. Yemisi Edun, joined Obanua to celebrate the successful exit from the project. During the event, she presented Dr. Paul Obanua with a Letter of Non-Indebtedness, symbolizing the complete settlement of all financial obligations.
The Abia State Government has pledged to transform the mall into a thriving commercial hub, signaling a new phase of development and economic growth for the state.