The presidential candidate of the Nigeria Democratic Congress, Peter Obi, has denied claims that he left Anambra State with $123 million in debt, saying he handed over the state with more than $150 million in funds.
Obi made the clarification during an interview on Arise News on Thursday, September 24, dismissing the debt claim as “very wrong public accounting.”
He said that even if the state had owed $123.7 million when he left office, the more than $150 million he left behind could have been used to settle the debt while retaining the capital and its earnings.
Obi maintained that he did not borrow money or issue bonds on behalf of Anambra during his eight years as governor. He also said the state was not owing salaries, pensions, gratuities or verified contractors when he left office in March 2014.
On World Bank and IFAD loans, Obi explained that the funds were concessionary facilities obtained by the Federal Government and on-lent to states for development projects. He said Anambra’s foreign debt rose from about $18 million when he assumed office to about $30 million when he left.
Obi said he had presented his handover documents, including bank statements showing the cash, investments and foreign currency holdings he left behind, and urged the relevant institutions to publish and verify the records.
He also said former Debt Management Office Director-General, Abraham Nwankwo, had publicly acknowledged that he was the only governor who never approached the office for approval to borrow money during Nwankwo’s tenure.
Obi said he had no ill feelings towards Governor Chukwuma Soludo, whom he described as his brother, and urged state governors to focus on their responsibilities amid Nigeria’s current challenges.
