The 2027 presidential candidate of the Nigeria Democratic Congress (NDC), Peter Obi, has released additional financial documents in a bid to clarify the financial position of Anambra State at the end of his tenure in 2014. The documents were shared by the Kwankwasiyya Movement, a support group associated with Obi's running mate, Rabi'u Kwankwaso. This development comes amid a renewed dispute between Obi and the Anambra State Government over the state's financial position.
The Anambra State Government, under Governor Chukwuma Soludo, has maintained that the state is still servicing loans and other financial obligations linked to previous administrations, including those of Obi and his successor, Willie Obiano. The state government has cited outstanding external loans with a combined balance of about N127.37 billion as of June 30, 2026. Obi has rejected these allegations, previously releasing his March 17, 2014, handover document to counter the claims.
Obi's handover document listed local investments of N27 billion, foreign-currency investments of $156 million valued at N26.5 billion, certified state and Ministries, Departments and Agencies balances of about N28.17 billion, as well as an N10 billion Federal Government-approved refund. These figures amounted to about N91.67 billion. After deducting an estimated N5 billion liability for March salaries, pensions, gratuities and certificates for already executed projects, the document recorded a net balance of approximately N86.67 billion.
The latest documents released by Obi's team include bank balances contained in the records, which the Kwankwasiyya Movement has urged Nigerians to independently verify. The group drew attention to the bank balances, noting that bank officials signed them with their full names and positions clearly written on them. The group also called on the public to verify the records independently.
The dispute between Obi and the Anambra State Government remains centred on how the financial records and outstanding obligations at the end of Obi's tenure in March 2014 should be interpreted. Obi maintains that his administration did not leave unpaid salaries, pensions, gratuities or liabilities to contractors for duly executed and certified projects. In contrast, the state government maintains that financial obligations from previous administrations remain.
The Anambra State Government's claims of outstanding loans and financial obligations have significant implications for the state's current financial situation. The state's external loans, totalling N127.37 billion, are a major concern for the Soludo administration. The government has emphasized that these loans and other financial obligations are a legacy of previous administrations, including Obi's.
The ongoing dispute highlights the need for transparency and accountability in the management of Anambra State's finances. The release of fresh bank documents by Obi's team is a move to provide clarity on the state's financial position at the end of his tenure. The public's independent verification of these records, as urged by the Kwankwasiyya Movement, may help shed more light on the matter.
Key points
- Peter Obi releases new financial documents amid dispute with Anambra State Government over state's financial position
- Anambra State Government cites outstanding external loans of N127.37 billion as of June 30, 2026
- Dispute centres on interpretation of financial records and outstanding obligations at the end of Obi's tenure in March 2014
