Abia State Governor Alex Otti has disclosed that his predecessor in Anambra State, Peter Obi, left $155 million in the state's coffers when he ended his tenure as governor. Otti made this revelation during an interview with ARISE Television. He stated that he made the claim six years ago to demonstrate that public officials could manage government resources prudently.
Otti's claim was initially made in an article he wrote in 2020, where he referenced how Obi left money behind in Anambra. At the time, Otti was the Chief Executive Officer of Fidelity Bank, where the funds were kept. According to Otti, Obi initially intended to keep the money in naira, but later converted it to dollars due to concerns about the depreciation of the naira.
Peter Obi has responded to Otti's claims, rejecting allegations that he left Anambra with about $123 million in debt. Instead, Obi stated that he handed over more than $150 million in funds. He described any presentation that combined the alleged debt with the funds he left behind as "very wrong public accounting."
Obi also clarified that his administration left no outstanding salaries, gratuities, or pensions due for payment by the state, and no unpaid obligations to contractors or suppliers whose work had been certified and verified. He maintained that he neither borrowed money nor issued bonds on behalf of Anambra during his eight years in government.
Regarding Anambra's foreign debt, Obi stated that it stood at about $18 million when he assumed office and rose to approximately $30 million by the time he left in March 2014. He explained that World Bank and International Fund for Agricultural Development loans cited in discussions about the state's debt were concessionary facilities obtained by the Federal Government and subsequently lent to states for specific development projects.
Obi said his handover documents contained details of the cash, investments, and foreign currency holdings he left behind, including bank statements supporting his claim of more than $150 million. He emphasized that the funds he left behind could have been used to settle any liabilities while preserving the capital, even if the state had owed $123.7 million at the time of his departure.
The exchange between Otti and Obi highlights the ongoing debate about the state of Anambra's finances during Obi's tenure as governor. While Otti's claim about the $155 million left behind is supported by his role as CEO of Fidelity Bank at the time, Obi's counter-claims and explanations aim to provide a different perspective on the state's financial situation.
Key points
- Abia State Governor Alex Otti claims former Anambra Governor Peter Obi left $155 million behind when he ended his tenure.
- Peter Obi rejects allegations of leaving Anambra with $123 million in debt, stating he handed over over $150 million in funds.
- The exchange between Otti and Obi highlights the ongoing debate about Anambra's finances during Obi's tenure as governor.
