Former Anambra State Governor Willie Obiano had disclosed that he inherited about N9 billion in cash and liabilities estimated at N185 billion when he took over from his predecessor, Peter Obi.
The disclosure has resurfaced amid renewed exchanges between the administration of Governor Charles Soludo and Obi over the financial position of Anambra State at the end of Obi’s tenure.
Obi served as governor of Anambra from 2010 to 2014, after which Obiano succeeded him and remained in office until 2022. Soludo subsequently assumed office as governor.
The controversy was recently reignited after Anambra State Commissioner for Finance, Izuchukwu Okafor, said the Soludo administration was still servicing loans and other obligations incurred by previous administrations.
Obi, in response, rejected the claim that he left the state indebted, insisting that he left more than N75 billion in government coffers.
However, the Anambra State Government subsequently released records showing that Obi’s administration took eight external loans between 2007 and 2013, with a combined value of $123.7 million. The government said about $92.35 million remained outstanding.
What Obiano Said He Inherited
In November 2015, Obiano, through the then Secretary to the Anambra State Government, Solo Chukwulobelu, said his administration inherited liabilities amounting to N185 billion.
Chukwulobelu explained that the figure covered current and contingent liabilities arising from projects and contracts awarded by previous administrations.
He said the state had about N9 billion in its bank accounts as of March 2013.
“The current administration, on March 17, inherited current liabilities and contingent liabilities, totalling N185 billion,” Chukwulobelu said at the time.
According to him, the liabilities included the cost of ongoing road projects awarded by previous administrations, which could become payable as the projects were completed.
Obiano later corroborated the account during an appearance on Channels Television ahead of the 2017 Anambra governorship election.
“My predecessor left N9 billion in cash and N25.6 billion in script issues — these are sovereign wealth funds and shares in other banks,” Obiano said.
He explained that combining the N9 billion cash balance with the N25.6 billion in investments amounted to about N35.5 billion, but added that cheques worth more than N15 billion had also been issued before Obi left office.
Victor Umeh’s Position
The late former National Chairman of the All Progressives Grand Alliance (APGA), Victor Umeh, also disputed Obi’s claim that he left N75 billion in the state’s coffers.
In 2017, Umeh said the alleged N75 billion savings were not reflected in Obi’s handover documents.
He maintained that Obi left liabilities of about N185 billion, while acknowledging that some funds had been invested in long-term dollar-denominated bonds that could not immediately be accessed by the succeeding administration.
“Some will mature in 2030,” Umeh had said.
The comments came during a political disagreement between Umeh and Obi ahead of the 2017 Anambra governorship election. Umeh backed Obiano, while Obi supported the then-PDP candidate, Oseloka Obaze.
The renewed debate over Anambra’s finances has therefore brought back earlier accounts from the Obiano administration regarding the cash, investments, loans and project-related liabilities it said it inherited from Obi’s government.
