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UK Authorities Dissolve Peter Obi’s Company, Next International Over Refusal To Submit 2020 Annual Accounts

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For failing to submit its annual accounts, authorities in the United Kingdom, UK, have struck off Next International (UK) Limited, a company largely owned by Nigerian top politician and presidential candidate of the Labour Party, Peter Obi.

According to Premium Times, the company was removed from the record in September 2021 following a first and second gazette notice of a “compulsory” strike off of the entity.

In the UK, a compulsory strike-off is imposed on a company by creditors or by the Companies House for non-submission of annual accounts or failure to notify Companies House about a change of official registered office address. Once a company is struck off, its details will be removed from Companies House register and the company ceases to exist.

Next International (UK) Limited failed to submit its annual accounts for the year 2020, hence, the company was struck off and dissolved in 2021.

Before a company is struck off, however, the UK requires the Companies House’s Registrar to send at least two formal letters to the company warning that a failure to file its annual accounts will lead to its removal from the register.

According to UK Liquidators, a financial consulting firm, if Companies House receives no reply to its letters, it will then publish a first ‘strike off notice’ in the Gazette, which is the official journal of public record.

The first official notice to strike off Next International was issued on 22nd June 2021, then a second notice was given on 31st August 2021. A final gazette to dissolve the company was issued on 7th September 2021.

Before its final dissolution, records show that for four consecutive years (2017, 2018, 2019 and 2020) the UK Companies House had to always issue a “first gazette notice for compulsory strike-off” before Next International filed its annual account. Then immediately the company submitted its annual accounts, a gazette will be issued to discontinue the compulsory strike-off action.

A private limited company, Next International was incorporated on 16t May 1996. Mr Obi was listed as a director while his wife, Margaret, served as secretary. Next International (Nigeria) Limited (with 999 ordinary shares) and Mr Obi (with one ordinary share) were listed as shareholders.

Records show that the company was registered as business “agents involved in the sale of a variety of goods” in England and Wales.

The firm reported taking a mortgage from Lloyds TSB Bank Plc for a property on 53 Clyde Road, Croydon.

On 16 May 2008, 14 months after assuming duties as governor of Anambra State, Mr. Obi resigned as the director of Next International.

He took office on March 17, 2006, but continued to serve as a director of the company in violation of Nigerian law.

In Nigeria, a person is statutorily required to withdraw from engaging in or directing a private business, except if it is farming, upon becoming a public officer, Section Six (6) of the Code of Conduct Bureau and Tribunal Act provides.

The former governor admitted to PREMIUM TIMES in 2021 that he did not declare these companies and the funds and properties they held in his asset declaration filings with the Code of Conduct Bureau, the Nigerian government agency that deals with the issues of corruption, conflict of interest, and abuse of office by public servants.

At the time, Mr Obi said he was unaware that the law expected him to declare assets or companies he jointly owns with his family members or anyone else.

BIG STORY

Adron Homes Launches Lemon Friday Plus Promo 2025 With Discounts, Flexible Payments, And December Rewards

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Adron Homes and Properties has announced the official launch of its Lemon Friday Plus Promo 2025, an exciting opportunity for Nigerians to own land at discounted rates while enjoying mouth-watering rewards this festive season.

This year’s edition allows customers to begin their homeownership journey with an initial deposit as low as ₦50,000 and spread payments over multiple instalments. Subscribers also enjoy a 30% discount on land purchases with the option to clear the balance conveniently over 24 months.

Adron Homes’ estates are carefully designed to provide residents with the best of modern living, featuring adequate power supply, good road networks, functional drainage systems, CCTV, 24-hour security, recreational centers, shopping malls, and green spaces that promote healthier lifestyles.

The promo covers estates across Lagos, Ogun, Oyo, Ekiti, Abuja (FCT), Nasarawa, Plateau, Osun, and Niger States, giving prospective homeowners multiple location options in rapidly developing communities.

Promo Rewards by Category:

• BRONZE (₦300,000 deposit): 25kg bag of Rice + 2 Chickens + Vegetable Oil OR Home Theatre.
• SILVER (₦500,000 deposit): A Goat OR 50kg Bag of Rice + 3 Chickens + Vegetable Oil OR Rechargeable Fan.
• GOLD (₦1,000,000 deposit): A Goat + 50kg Bag of Rice + Palm Oil + Garri Ijebu OR 2 Bags of 50kg Rice + 4 Chickens + Palm Oil + Garri OR Washing Machine.
• DIAMOND (₦3.5M deposit on estates above ₦20M before discount): A Cow OR Double-Door Fridge.

Adron Homes has consistently bridged the home ownership gap in Nigeria by introducing flexible and convenient payment plans that allow more families to become homeowners. With initiatives like Lemon Friday Plus, the company is breaking down financial barriers and creating sustainable pathways for Nigerians to secure their future through real estate.

Promo Duration

• Instalment payments for initial deposits run from 7th July to 31st November 2025.
• The promo officially ends 6th January 2026.

“The Lemon Friday Plus Promo is our way of making December unforgettable for our customers,” said Adron Homes’ management. “We are not only offering affordable land ownership, but also giving families gifts that make the festive season brighter.”

Adron Homes invites all aspiring homeowners, investors, and families to take advantage of this limited-time opportunity to own property with flexible payment plans and rewarding bonuses.

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UBA Hosts Global Leaders At UNGA 2025, Launches Whitepaper On Unlocking Africa’s Potential

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Africa’s Global Bank, United Bank for Africa (UBA) Plc is set to make a bold statement on the global stage as it will be gathering world leaders, policymakers, and investors and other private sector players at the forthcoming 2025 United Nations General Assembly (UNGA).

This year’s gathering at the UNGA, which is the 80th Edition, will be held between September 15th and September 25th, and as always, UBA Group has mapped out series of engaging activities to spotlight Africa’s opportunities and foster high-level dialogue with global leaders towards boosting the continent’s potential.

A key part of the event, will be the UBA’s unveiling of a ground-breaking whitepaper that presents actionable strategies for unlocking Africa’s vast economic potential, as part of the bank’s mission to drive sustainable growth across the continent.

The whitepaper, a first-of-its-kind initiative by a leading African financial institution at UNGA, titled ‘Banking on Africa’s Future: Unlocking Capital and Partnerships for Sustainable Growth’, will highlight opportunities in trade, infrastructure, digital innovation, climate finance, and inclusive growth.

By providing a roadmap for collaboration between Africa and the global community, UBA aims to position the continent not just as a beneficiary of investment, but as a critical driver of future global prosperity.

Apart from the Whitepaper launch, other activities of the group will include the Business Council for International Understanding (BCIU) Roundtable to be hosted by UBA America, as well as the annual UBA Reception.

The reception will convene world leaders, policymakers, and influential business executives who will be involved in critical dialogues on investment and development across the continent.

UBA’s Group Chairman, Tony Elumelu, emphasized the strategic importance of these dialogues, explained that over the past few years, UBA has become an active leader in conversations and activities that will drive tangible investments to the continent.

“These conversations are fundamentally different from previous discussions because they will be followed by feasible and actionable decisions. UBA will actively work to implement these outcomes for the benefit of the continent, as committed partners in Africa’s development and sustainability,” Elumelu noted.

Continuing, he said, “’The United Nations General Assembly is the largest and most official gathering of world leaders, and we cannot let such an opportunity pass without major African players like UBA taking centre stage to bring these leaders together and showcase Africa’s potential.”

UBA’s Group Managing Director/Chief Executive Officer, Oliver Alawuba, who remarked on the upcoming event, especially the whitepaper’s significance, emphasized the need for more private organizations and players to demonstrate their commitment to the continent’s development through concrete action and proven capabilities.

United Bank for Africa is one of the largest employers in the financial sector on the African continent, with 25,000 employees group wide and serving over 45 million customers globally. Operating in twenty African countries and the United Kingdom, the United States of America, France and the United Arab Emirates, UBA provides retail, commercial and institutional banking services, leading financial inclusion and implementing cutting edge technology.

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BIG STORY

Iyan Olodo: The City Pulse Lounge Revives Authentic Yoruba Dining In Ikeja

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The City Pulse Lounge, a branch of The City Pulse, has introduced its flagship dish Iyan Olodo in Ikeja—a freshly pounded yam served in the traditional manner with pure palm wine in calabash style.

The experience is designed as more than just food; it’s a return to cultural roots. At the lounge, guests can hear yam being pounded live (unless it’s a pre-order), and the atmosphere is steeped in Yoruba tradition. On weekends, the venue hosts live performances featuring Juju, Fuji, Gospel, and other cultural arts, turning dining into a celebration.

“Ayoyemi Mojoyinola, popularly known as Ayo Mojoyin, founder of The City Pulse Lounge, said he created Iyan Olodo ‘to bring back the memories of our forefathers in the villages’.” He explained that, as a journalist-turned-hospitality entrepreneur, he wanted to preserve Yoruba culture by replicating how elders used to eat yam with fresh palm wine.

The new dish has already drawn several A-list personalities. Patrons include Chief Bestman Nze (President of Team Nigeria), celebrity journalist Otunba Femi Davies (founder of Metronews Nigeria), realtor Otunba Olayinka Ogundipe (‘Ultra’), and broadcaster Adebisi Adewusi (DebisiKonga). Videos featuring these influencers enjoying Iyan Olodo are being shared, fuelling its cultural buzz.

Menu prices include Iyan with Fish / Bokoto / Ogufe at ₦4,000; Iyan with Assorted & Ponmo Ijebu at ₦5,500; Iyan with Fresh Fish is priced at ₦10,000. Pure, natural palm wine (not mixed) costs ₦2,000 per bottle. Eat-in only; takeaway or delivery incurs extra packaging/dispatch fees.

Iyan Olodo is served daily from 1:30pm to 8:00pm, with pre-orders allowed for earlier or later service. The lounge is located at The City Pulse Lounge, inside Lagos Television, Plot 1 Lateef Jakande, Agidingbi, Alausa, Ikeja.

The City Pulse Lounge plans to expand Iyan Olodo soon to Ogun State and the Federal Capital Territory, with those plans already underway.

For Nigeria’s Independence Day, a special Iyan Olodo promotion will run from October 1-5, 2025. Official details are expected to be announced on September 25.

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