Anambra Debt: I Never Borrowed or Issued Bonds as Governor — Obi Insists

Former Anambra State Governor Peter Obi has insisted that he neither borrowed money nor issued bonds on behalf of the state during his eight years in office.

Obi made the clarification while appearing on Arise Television’s Prime Time programme on Thursday, responding to claims by the Anambra State Government that his administration left loans and other financial liabilities that successive governments have continued to service.

The former governor said he left office in March 2014 without outstanding salaries, pensions or gratuities owed by the state government. He also said no contractor or supplier whose work had been completed, certified and verified was left unpaid.

Obi maintained that he did not approach any financial institution to secure commercial loans or issue bonds for Anambra during his tenure.

He also addressed funding facilities associated with development projects in the state, particularly the State Education Programme Investment Project, SEPIP.

According to Obi, some of the facilities being counted as debts incurred by his administration were concessionary funds obtained through arrangements involving the Federal Government and international development institutions.

He said Anambra was one of three states selected for support under SEPIP because of its performance in education, alongside Ekiti and Bauchi. Obi argued that the funding should not be presented as a commercial borrowing undertaken directly by his administration.

He further disputed the treatment of undrawn loan facilities as debts incurred during his tenure, arguing that funds not accessed or spent should not be classified as money borrowed by his administration.

The former governor also referred to the former Director-General of the Debt Management Office, Abraham Nwankwo, whom he said had stated during his send-off that Obi was the only governor who did not visit his office to seek approval to borrow money.

The Anambra State Government has, however, maintained that loans contracted during Obi’s tenure remain liabilities of the state. It previously released records alleging that eight external loans associated with his administration had outstanding balances.

The state government said the loans supported projects in areas including healthcare, education, erosion control and agriculture, and that successive administrations have continued servicing them.

Obi has disputed the government’s interpretation of those facilities and maintained that the official records, including his handover documents, can be used to verify his administration’s financial position when he left office.