Anambra's Fiscal Shadow: Peter Obi's Debt Legacy Under Scrutiny

The financial legacy of former Anambra State Governor Peter Obi has become a subject of intense debate, with current state officials and Obi's political allies presenting conflicting narratives regarding loans and liabilities from his administration. Dr. Law Mefor, the Anambra State Commissioner for Information and Value Reorientation, recently stated that eight federal government-guaranteed loans obtained during Peter Obi’s tenure are still actively being repaid by the state government, leading to monthly deductions from its Federal Account Allocation Committee (FAAC) funds.

Commissioner Mefor, speaking on ARISE News, clarified that while these loans were federal government-guaranteed, they were not grants and represented significant liabilities for Anambra State. He emphasized that taking these loans was not compulsory for state governments, noting that some states opted out due to unfavorable repayment terms. Mefor maintained that Obi’s administration had committed Anambra State to these loan liabilities. However, when pressed for specific figures on the amount actually drawn down from these loans during Obi's time, Mefor admitted he did not possess those details and indicated a need to reconcile such figures with the Debt Management Office. He did, however, acknowledge the logical principle of attributing liability only to the extent of funds drawn down by a particular administration.

In strong opposition to these claims, Yunusa Tanko, the National Coordinator of the Obedient Movement, has robustly defended Peter Obi, asserting that Obi’s financial records from his time in office are completely open to verification. During his own interview with ARISE NEWS, Tanko stated that Obi had provided comprehensive records and even brought bank managers to confirm the substantial funds available at the conclusion of his administration. Tanko challenged anyone disputing these figures to verify them directly with the respective banks, highlighting their verifiability.

Tanko dismissed the current dispute as less about establishing facts and more about a calculated attempt to discredit the former governor. He reiterated that Obi had systematically liquidated historical debts amounting to approximately N35 billion and had left no outstanding salaries, gratuities, or pensions at the point of handover. Furthermore, Tanko detailed a N2 billion economic fund that was released shortly before Obi’s tenure ended, clarifying that this money remained 100% intact in First Bank account 20186764, with a balance exceeding N2.3 billion, and was duly included in the handover records. Tanko also corrected a common misconception, stating emphatically that Peter Obi handed over power to former Governor Willie Obiano, not the incumbent Governor Charles Soludo.

Emphasizing the integrity of Obi's position, Tanko declared he would personally condemn Obi if any evidence emerged proving that the former governor had misrepresented the financial records. He also referenced Obi’s public commitment to withdraw from the 2027 presidential race should it be unequivocally established that he took loans or left debts in Anambra State. Tanko then challenged Obi’s accusers to apply similar standards of transparency to their own financial records and consider stepping down from elections if their records were called into question. He concluded by asserting that Obi had voluntarily and publicly declared his financial position years ago, before any requests were made, and challenged the media to facilitate a direct appearance by Peter Obi to address the figures personally.