Firm woos Obasanjo as guarantor for $50bn investment

An international financial group, Money Maker Management, has approached former Nigerian President, Chief Olusegun Obasanjo, to serve as collateral to invest about $50 billion into the country’s financial, tourism and real sectors.

The team, led by the Chief Executive Officer (CEO), Money Maker Management, George Ghorayeb, who met with Obasanjo at his Hilltop Presidential Villa in Abeokuta, yesterday, said the credentials of the former president prompted the move to approach him for the support.

Ghorayeb said the group was targeting both private corporations and governments at all the tiers to come up with projects as low as $5m and as high as $50bn in the country, “because we strongly believe in the economy of Nigeria. It is getting good prospects, but, we need somebody in the calibre of the former President as collateral to bring in such financial assistance.

“Former President, Chief Obasanjo has fantastic credentials that we can rely upon as collateral. That is why we have come to him to see if we can get both private and government projects in real, financial and tourism sectors of the Nigerian economy, which is giving positive prospects by the day.”

The CEO who was accompanied on the visit by the vice president of the Money Maker Management, Dr. Adnan El Aridi and Chairman of RHAS Nigeria Ltd, Chief S.T Sarieddine, expressed satisfaction with the outcome of the visit, assuring that the financial support the group was bringing would further enhance development and employment opportunities.