A former governor of Abia State, Orji Uzor Kalu, said former President Olusegun Obasanjo withdrew the licences of his firms because he refused to support his third term agenda.
The APC chieftain said the retaliatory act affected Hallmark Bank and Slok Airline as the Central Bank of Nigeria and the Ministry of Aviation revoked the licences of both businesses.
Kalu said the businesses would have grown exponentially now and be able to employ a large number of people.
In answer to a question of if he would bring his businesses back to Nigeria, he said his businesses already are and he currently employs 9,000 people.
“A bank with 5,000 workers and 33 branches and someone cancelled the license in one day for political reasons and that takes us to where we are now in Africa. Somebody cancelled the license of an airline with 14 aircraft in a day and nobody asked questions.
“How do you convince people to come and invest in your country when a president (Obasanjo) can wake up and order the Central Bank and the Ministry of Aviation to cancel licenses without due process? I am in court with the Federal Government. So, I won’t dwell more on the issue.
“The whole process was totally flawed. There was no offence committed, just because we disagreed on third term and that was the price I paid. It was uncalled for to take such action without considering the many families that would be affected.
“So, these are the major factors that discourage investors from having long-term businesses in the country,” he said.