PRESS RELEASE

September 26, 2026

Anambra Govt Challenges Peter Obi Over Alleged Debts, Unpaid Arrears, N2.13bn Ecological Fund

The Anambra State Government has challenged former governor Peter Obi to provide clarification on allegations surrounding loans, unpaid salary and pension arrears, liabilities contained in his administration’s handover records and the whereabouts of an alleged N2.13 billion Ecological Fund.

The government, in a statement responding to Obi’s September 24 interview on Arise TV, accused the former governor of attempting to shift the focus of the debate over the financial position of the state at the end of his tenure in March 2014.

It said the issues under contention include loans allegedly obtained during Obi’s tenure, outstanding obligations to workers and pensioners, the treatment of state savings, the contents of the former governor’s handover note and the alleged N2.13 billion Ecological Fund.

On the loans, the state government said records from the Debt Management Office (DMO) showed that Obi’s administration signed eight IDA-World Bank loan agreements totalling $123.77 million during his eight-year tenure.

According to the government, the outstanding balance on the loans stood at $92.35 million, equivalent to about N127.37 billion, as of June 30, 2026, with successive administrations continuing to service the obligations through deductions from the state’s Federation Account Allocation Committee (FAAC) receipts.

The government said the loans were reflected in official debt records and accused the former administration of failing to adequately disclose the liabilities in its handover documents.

It also disputed Obi’s claim that his administration did not leave salary or pension arrears, alleging that more than 700 workers of the Anambra State Water Corporation were owed salaries, pensions and gratuities.

The state government said an arbitration process in 2009 and a 2019 National Industrial Court judgment affirmed the obligations, adding that the current administration entered into an out-of-court settlement in February 2024 valued at N1.56 billion.

It said N1.19 billion had so far been paid, with the remaining balance expected to be settled.

The government further alleged that 11 months of pension arrears owed to primary school teachers remained outstanding after Obi’s administration inherited 16 months of certified arrears and paid five months.

On Obi’s reported savings, the state government said the former governor’s argument that funds saved in banks could have generated enough interest to offset liabilities did not resolve the question of whether debts existed at the point of handover.

It argued that government financial records should separately account for assets and liabilities, regardless of the value of assets held at the time of transition.

The government also questioned aspects of the handover note presented by Obi, alleging that it included valuations for incomplete projects and an alleged N10 billion Federal Government refund that had not been received before the end of his tenure.

It further claimed that the handover documents did not adequately disclose liabilities arising from 101 road contracts covering about 779 kilometres, which it said amounted to approximately N127 billion at the time.

The state government also raised questions over the alleged N2.13 billion Ecological Fund which Obi reportedly said was held in a First Bank account when he left office on March 17, 2014.

According to the government, First Bank, in a letter dated September 16, 2026, confirmed that the account number cited by Obi was actually the Anambra State Government Internally Generated Revenue (IGR) Consolidated Account, rather than an Ecological Fund account.

The government further claimed that the bank confirmed the account did not have a balance close to N2.13 billion as of March 17, 2014, and that the account never recorded N2.13 billion as either an inflow or balance during its active period from 2011 to 2018.

The state government therefore called on Obi to clarify the status and whereabouts of the funds he allegedly identified as the Ecological Fund.

It maintained that the current controversy was not politically motivated but arose from questions raised by Obi himself regarding the financial position he left behind when he handed over power.

The government said the records and documents it cited were available for verification and urged the former governor to address the specific financial issues rather than redirecting the debate.

It added that the state administration remained committed to transparency and accountability in the management of public finances.