A chieftain of the Labour Party (LP), Senator Victor Umeh has denied claims that the party’s presidential candidate, Peter Obi, invested state funds in his personal business.
HausaToday reports that several reports claimed that Obi invested state funds into SABMiller Brewery, alleging that the former Anambra Governor has a stake in the firm.
The LP presidential candidate is accused of fraudulently financing the purported government-owned company with state funds when his company has an interest in the group.
Speaking in an interview on Channels TV’s Political Paradigm aired on Tuesday, Senator Umeh refuted claims that the former governor invested state funds in his business.
The LP candidate for Anambra Central Senatorial District confirmed that Obi’s family company bought a share in that company, stressing that the transaction is not illegal.
Umeh, however, stated that the SABMiller Brewery is largely owned by South Africans.
He said: “He didn’t invest state funds in his business. He did not. Maybe the state partnered in a business he also has an interest in. It’s a share.
“That his family company bought a share in that company has not made it illegal.
“The conflict would be if the state fund was diverted to his advantage. There is no conflict in what he did because he doesn’t manage the company.
“The SABMiller Brewery they are talking about, the owners largely are from South Africa.”