Peter Obi’s Company, Next International, Dissolved By UK Authorities

The United Kingdom (UK) authorities have barred a company allegedly owned by Labour Party (LP) presidential candidate for failing to submit its annual accounts.

Peter Obi's Company, Next International, Dissolved By UK Authorities

Following a first and second notice of a “compulsory” strike off of the entity, Peter Obi’s company known as Next International (UK) Limited was removed from the record in September 2021.

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In the United Kingdom, a compulsory strike-off is imposed on a company by creditors or Companies House for failing to submit annual accounts or failing to notify Companies House of a change of official registered office address.

When a company is struck off, its information is removed from the Companies House register and it ceases to exist.

Before a company is struck off the register, the will send at least two formal letters warning it that failure to file its annual accounts will result in its removal from the register.

According to Premium Times, the company, which is largely owned by the former governor of Anambra State, failed to submit its annual accounts for the year 2020, resulting in the company being struck off and dissolved in 2021.

According to Liquidators, a financial consulting firm, if Companies House does not receive a response to its letters, it will issue a first-strike-off notice’ in the Gazette, the official journal of public record.

The first official notice to strike off Next International was issued on June 22, 2021, followed by a second notice on August 31, 2021. On September 7, 2021, a final gazette was issued to dissolve the company.

Prior to its final dissolution, records show that the Companies House had to issue a “first gazette notice for compulsory strike-off” before Next International filed its annual account for four consecutive years (2017, 2018, 2019, and 2020).

Following the submission of the company’s annual accounts, a gazette will be issued to end the compulsory strike-off action.

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

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

The company stated that it obtained a mortgage from Lloyds TSB Bank Plc for a property at 53 Clyde Road in Croydon.

He took office on March 17, 2006, but continued to serve on the company’s board of directors in violation of Nigerian law.

Section Six (6) of the Code of Conduct Bureau and Tribunal Act states that when a person becomes a public officer, he or she must cease engaging in or directing a private business unless it is farming.

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