‘Debts’: Anambra state government heaps fresh allegations on Peter Obi

The Anambra State Government has accused former governor Peter Obi of concealing loans, salary and pension arrears incurred during his administration, while demanding an explanation over the whereabouts of N2.13 billion which he allegedly claimed was left in an ecological fund account when he handed over power in 2014.

The state Commissioner for Information and Value Reorientation, Law Mefor, made the allegations in a statement issued on Saturday September 26, 2026, titled, “Peter Obi’s Debts and Lies: More Questions Than Answers.”

The statement followed Obi’s appearance on Arise TV on September 24, where the former governor addressed claims concerning the financial position of Anambra state when he left office and defended his record on borrowing, savings and liabilities.

Loans, workers’ arrears

Mefor said Obi had challenged the state government and others to provide evidence that his administration left behind debts, adding that the government subsequently presented records which, according to him, contradicted the former governor’s position.

The commissioner alleged that Obi’s administration signed eight loans from the International Development Association and World Bank during his eight-year tenure, with a combined value of $123.77 million.

According to Mefor, the Debt Management Office report as of June 30, 2026, showed that $92.35 million, equivalent to N127.37 billion, remained outstanding on the loans.

He said successive administrations, including the current government led by Governor Chukwuma Soludo, had continued to service the debts through monthly deductions from the state’s federal allocations.

Mefor rejected Obi’s reported argument that he did not personally obtain the loans from the World Bank or the Debt Management Office, saying the relevant loan agreements had been signed by his administration.

He further accused Obi of failing to disclose the liabilities in his handover documents, arguing that assets and liabilities should both be reflected in a government’s financial records.

The commissioner also disputed Obi’s claim that his administration did not owe workers or pensioners.

Mefor cited the case of more than 700 staff members of the Anambra State Water Corporation, saying an arbitration panel in 2009 and a National Industrial Court judgment in 2019 established that the state government owed the workers.

He said the Soludo administration entered an out-of-court settlement with the affected workers on February 26, 2024, for N1.56 billion, adding that N1.19 billion had so far been paid.

According to him, the government is expected to pay the outstanding balance in the final tranche.

Mefor also alleged that 11 months of pension arrears owed to primary school teachers remained outstanding. He said the arrears were inherited from the administration of former governor Chinwoke Mbadinuju, with Obi’s government paying only five months out of the 16 months certified as valid.

Savings versus development

The commissioner also criticised Obi’s emphasis on the savings reportedly left behind by his administration.

Obi has repeatedly pointed to funds saved by his government as part of his record in office. However, Mefor argued that the existence of savings did not invalidate outstanding loans and other liabilities.

He said the government’s responsibility was not simply to accumulate funds in bank accounts but to deploy public resources towards infrastructure, security, healthcare, education and other areas affecting citizens.

Mefor questioned the rationale of retaining substantial funds in banks while, according to him, the state faced infrastructure deficits, insecurity, poverty, poor healthcare facilities and inadequate public schools.

He also challenged Obi’s suggestion that the funds could have generated sufficient interest to service outstanding loans, describing the argument as an attempt to shift attention from the liabilities allegedly inherited by subsequent administrations.

Handover note questioned

The commissioner further questioned the contents of the handover documents allegedly presented by Obi during his Arise TV interview.

According to Mefor, the document placed emphasis on assets and investments but failed to adequately disclose liabilities arising from contracts and other obligations.

He alleged that some projects listed as assets were incomplete or abandoned at the time of handover, citing the Nnewi Shopping Mall, Onitsha Hotel and Agulu Lake Hotel as examples.

Mefor also questioned the inclusion of an alleged N10 billion Federal Government refund as part of the net balance, arguing that the money had not been received before Obi left office.

The commissioner claimed that Obi’s administration had also awarded contracts for 101 roads covering 779 kilometres, with outstanding liabilities of about N127 billion at the time of handover.

He argued that the alleged road liabilities, among other obligations, should have been reflected in the state’s financial position alongside the assets and savings cited by Obi.

Questions over N2.13bn ecological fund

The state government also raised questions over the whereabouts of N2.13 billion which Obi reportedly claimed was held in a First Bank account as an ecological fund when he handed over power on March 17, 2014.

Mefor said the issue was particularly important because Obi had reportedly provided the account number, name of the bank and branch in making the claim.

According to the commissioner, however, First Bank, in a letter dated September 16, 2026, stated that the account referenced by Obi was actually the Anambra State Government’s IGR Consolidated Account and not an ecological fund account.

He further claimed that the bank confirmed that the account balance on March 17, 2014, was nowhere near N2.13 billion and that the account had never received or held such an amount between 2011 and 2018.

Mefor therefore demanded clarification on the whereabouts of the alleged ecological fund, saying the issue remained unanswered.

The commissioner said the state government’s response was prompted by Obi’s own public challenge and insisted that the government was merely providing records concerning the financial obligations inherited from his administration.

He accused Obi and his supporters of attempting to shift the focus from the specific questions raised about loans, workers’ arrears, contractual liabilities and the alleged ecological fund.

Mefor urged the former governor to address the issues raised and tender an apology to the people of Anambra State, saying the government remained committed to providing information on matters of public interest.

The allegations contained in the statement represent the Anambra State Government’s account of the state’s financial position at the end of Obi’s administration. Obi’s position, as presented in his recent public comments, differs from the government’s claims, particularly on the treatment of loans, savings and liabilities.