Peter Obi rejected oil block in 2013

This individual is Mr. Peter Obi, who serves as the Chairman of the Securities and Exchange Commission (SEC) and was formerly the Governor of Anambra State in South-East Nigeria.

According to reports, Mr. Obi was approached by a key player in the auctioning of marginal fields and offered the opportunity to bid. However, he declined immediately, citing his lack of familiarity with the oil business and his preference for trading.

Mr. Obi explained that his primary area of expertise is in trading, which he has been doing since his university days, as well as banking, in which he has excelled and served on the boards of three banks, including Fidelity Bank, where he was Board Chairman before contesting the Anambra State governorship in 2003.

He emphasized that he prefers to focus on his core competence and leave the oil business to the entrepreneurs who specialize in it.

The bidding for Nigeria's marginal fields opened in late November 2013, during Mr. Obi's tenure as the Anambra State governor, and he confirmed his decision to turn down the offer in a recent conversation with his close friends.

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