Connect with us


Fact-Checking Premium Times Claims That The Uk Dissolves Peter Obi’s Company, Next International

Fact-Checking Premium Times Claims That The Uk Dissolves Peter Obi’s Company, Next International



20230112 011914 scaled

Stay Connected And Informed! Follow Us On Instagram, Facebook, and Twitter

The claim: UK authorities dissolve Peter Obi’s company, Next International.

As the 2023 Nigerian election approaches, various individuals and groups are working to advance their own interests. This includes journalists, who may seek to publish negative stories about candidates who refuse to pay them or to write positively about those who do.

I once encountered a Nigerian journalist located in the southern region of the country. Whenever he was in financial straits, he would turn to a specific politician for funds. The reason for this was that he possessed compromising information about the politician and the politician sought to prevent its publication.

Currently, journalists throughout the country are making tireless efforts to uncover any potential scandals involving political candidates, as this is a valuable opportunity for them to uncover important information and potentially make a profit. Failure to uncover these stories would mean missing out on this opportunity for another four years.

During the previous administration in Nigeria, journalists had the opportunity to profit greatly from sensationalized coverage, as was evident in the Dasuki Gate scandal. However, under the current administration led by President Muhammadu Buhari, there seems to be a lack of concern for the media and their reporting, as the administration appears indifferent to any criticism or coverage about itself.

If you do not align with their views, they may resort to publishing negative and baseless articles in an effort to sway public opinion against you.

The premium times post from January 11th, which quickly amassed thousands of readers, serves as a notable instance. The article asserted that UK authorities had dissolved Peter Obi’s business, Next International.

Upon the release of the report, a surge of false information spread rapidly throughout the internet. Initially, I thought that the Labour Party’s Presidential candidate had engaged in fraudulent activity.

The report rapidly gained traction across various social media platforms such as Twitter, Facebook, TikTok, and Instagram. One particular tweet garnered an impressive 420,000 views within a mere 7 hours, solidifying its widespread reach and impact.

The report’s subheading states that an investigation by PREMIUM TIMES revealed that the company was removed from the register in September 2021, following a notification on August 31st of the same year.

Many individuals on social media prematurely jumped to conclusions about Peter Obi, labeling him as a fraud, without thoroughly reading the article or seeking additional information.

However, individuals who possess a comprehensive understanding of the inner workings of Nigeria’s system have criticized Premium Times for their article, with some labeling it as “click bait” and others claiming that the writer was receiving compensation for their work.

It is imperative that Mandy News contacts Kabir Yusuf, the author of the article in question, to inquire about his reasoning behind portraying the post as if the former governor of Anambra State is a fraud. However, after careful consideration, we believe that this action is unnecessary.

Premium Times Headline Doesn’t Make Peter Obi A Fraud

The story published by PREMIUM TIMES regarding Peter Obi’s company, Next International, is nothing more than a sensationalized headline designed to attract clicks. The content of the story is fueled by bigotry, according to First Lady Ship, an avid supporter of Peter Obi and an advocate for the ObiDatti movement.

However, Premium Times titled the headline as an exclusive boastfully, which prompted some journalists like David Hundeyin to leave mocking comments in their section.

Now let’s talk about the article.

What Does Dissolving A Company Mean?

Dissolving a company means officially ending its existence as a legal entity. It is the process of winding up or closing down a business, and can occur for a variety of reasons such as reaching the end of its intended lifespan, financial difficulties, or changes in ownership.

When a company is dissolved, its assets are distributed among its shareholders and the company’s debts are settled. Once the company is dissolved, it can no longer conduct business and any assets remaining after the settlement of debts will be transferred to its shareholders. The company will also be removed from the company register and it will be required to submit a final set of accounts and tax return.

What Happens When A Company Is Dissolved?

When a company is dissolved, several things happen:

  1. Assets are distributed: The company’s assets will be distributed among its shareholders, or the assets will be sold to pay off any outstanding debts.
  2. Legal Obligations: The company will be required to settle any outstanding debts and legal obligations before it can be dissolved.
  3. Termination of contracts: The company will be required to terminate any ongoing contracts, such as leases or service agreements, to avoid future liabilities.
  4. Removal from company register: The company will be removed from the company register, it will no longer be considered a legal entity and it will lose the right to conduct business.
  5. Final set of accounts and tax return: The company will be required to submit a final set of accounts and tax return, including any final taxes that are due.
  6. Cancellation of licenses and permits: The company will need to cancel any licenses and permits it holds, such as business licenses and liquor licenses.
  7. Notifying creditors and employees: The company will need to notify its creditors and employees about the dissolution, and any legal rights or obligations that result from the dissolution.

You can also read about the dissolved company investigations in the UK.

Let’s talk about the company.

Next International

According to the information obtained by Mandy News, On May 16th, 1996, Next International, a private limited company, was established.

The company’s records list Mr Obi as a director and Margaret, his wife, as the secretary. Next International (Nigeria) Limited holds 999 ordinary shares, while Mr Obi holds one ordinary share as shareholders.

According to the registration records, the company operates as agents involved in the sale of a variety of goods in England and Wales. Additionally, the company reported obtaining a mortgage from Lloyds TSB Bank Plc for a property located at 53 Clyde Road, Croydon.

On May 16th, 2008, 14 months into his tenure as governor of Anambra State, Mr. Obi stepped down from his position as Director of Next International.

The PREMIUM TIMES report does not indicate that Peter Obi is fraudulent.

Why The Company Was Dissolves?

According to a report by PREMIUM TIMES, Next International (UK) Limited, a company primarily owned by Nigerian politician and presidential candidate of the Labour Party, Peter Obi, has been struck off by UK authorities for failing to submit its annual accounts.

According to the report, the firm was struck off the official records in September 2021 after receiving two notices of compulsory strike off.

According to the report, Next International (UK) Limited failed to submit its annual accounts for the year 2020.

UK Liquidators, a reputable financial consulting firm, reported that if a company fails to respond to letters from Companies House, the organization will proceed to publish a first “strike off notice” in the Gazette, which serves as the official journal of public record.

This process was enacted for Next International, as the first official notice to strike off the company was issued on June 22, 2021. A second notice was subsequently issued on August 31, 2021, and a final gazette to dissolve the company was issued on September 7, 2021.

All these were culled from the Premium Times post, but what is confusing is the fact that the 61-year-old politician Peter Obi officially resigned from the company 15 years ago. 

Our rating: Clickbaiting

Based on our understanding, we rate Clickbaiting the premium times report concerning Peter Obi’s dissolution of his company, Next International. A supporter of Peter Obi said the story and the headline are misleading and that the report has been online and not exclusive. 

Share your story with us! Email


I have a passion for blogging about what's trending in Hip-Hop, politics and entertainment. I'm a huge Hip-hop fan; my favorite artiste are Chris Brown, Jay'z & Beyonce. I also enjoy spending time with my team (#TeamWE), and working hard as hard work pays off.


𝗖𝗼𝗽𝘆𝗿𝗶𝗴𝗵𝘁 © 𝟮𝟬𝟮4 𝗠𝗮𝗻𝗱𝘆 𝗡𝗲𝘄𝘀. 𝗔𝗹𝗹 𝗿𝗶𝗴𝗵𝘁𝘀 𝗿𝗲𝘀𝗲𝗿𝘃𝗲𝗱. 𝗠𝗮𝗻𝗱𝘆𝗡𝗲𝘄𝘀 𝗱𝗼𝗲𝘀𝗻'𝘁 𝘁𝗮𝗸𝗲 𝗿𝗲𝘀𝗽𝗼𝗻𝘀𝗶𝗯𝗶𝗹𝗶𝘁𝘆 𝗳𝗼𝗿 𝘄𝗵𝗮𝘁'𝘀 𝗼𝗻 𝗼𝘁𝗵𝗲𝗿 𝘄𝗲𝗯𝘀𝗶𝘁𝗲𝘀 𝗼𝗿 𝘁𝗵𝗲 𝗻𝗲𝘄𝘀 𝘁𝗵𝗲𝘆 𝘀𝗵𝗮𝗿𝗲.