Anambra Government Accuses Obi of Leaving Over $123 Million Loan Liabilities
The Anambra State Government has responded to former Governor Peter Obi’s recent comments on the state’s financial position when he left office, alleging that his administration left behind loans, unpaid workers’ entitlements and pension arrears.
The state government made its position known in a statement issued on Saturday by the Commissioner for Information and Value Reorientation, Law Mefor.
The response followed an interview Obi granted on September 24, during which he addressed issues surrounding loans, state funds, unpaid obligations and the handover documents from his administration.
The government said it had not previously made the inherited liabilities a major public issue despite spending years servicing obligations it said were incurred before the current administration came into office.
According to the state, the issue became a matter of public record after Obi challenged anyone to establish that he left behind unpaid salaries, pensions, contractors’ debts or other liabilities.
On loans, the government alleged that Obi’s administration entered into eight loan agreements with the International Development Association and the World Bank during his tenure, with a combined value of $123.77 million.
It said records from the Debt Management Office showed that the outstanding balance on the loans stood at $92.35 million as of June 30, 2026, which the state valued at about ₦127.37 billion.
The government said successive administrations had continued to service the obligations through deductions from the state’s monthly Federation Account Allocation Committee revenue.
It also rejected Obi’s argument that he did not personally approach the World Bank or the Debt Management Office to obtain the loans, insisting that the agreements were signed on behalf of the state government.
The state further argued that the existence of assets capable of covering liabilities did not remove the obligation to disclose such debts in government records.
The government also accused the former administration of leaving unpaid salaries, pensions and gratuities owed to more than 700 workers of the Anambra State Water Corporation.
It said the matter was confirmed through a 2009 arbitration proceeding and a 2019 judgment of the National Industrial Court.
According to the state, the present administration reached an out-of-court settlement with the affected workers on February 26, 2024, valued at ₦1.56 billion.
The government said ₦1.19 billion had so far been paid, with the final payment still outstanding.
The state also raised the issue of pension arrears owed to primary school teachers, alleging that Obi inherited 16 months of certified arrears from the administration of former Governor Chinwoke Mbadinuju but only five months were cleared during his tenure.
It said the remaining 11 months were still outstanding, although the previous administration had directed shortly before leaving office that the arrears should be settled.
The government said it was currently re-verifying the claims with a view to making payment.
Another issue raised was the approximately $150 million in savings which Obi has previously said his administration accumulated.
The former governor had argued that the funds could have generated enough interest to service the state’s loans if they had remained untouched by his successor, Willie Obiano.
However, the state government disputed that position, arguing that public funds should also be assessed based on their impact on infrastructure, healthcare, education, security and other areas of public welfare.
The government questioned the rationale for keeping substantial public funds in banks while some communities, according to its account, lacked basic infrastructure and essential public services.
It also revisited the controversy surrounding ₦2.13 billion from the Ecological Fund, alleging that the money could not subsequently be traced to the account and bank where Obi said it had been kept.
The state maintained that the former governor had yet to provide what it considered a satisfactory explanation regarding the funds.
The government further questioned aspects of the handover documents presented by Obi, alleging inconsistencies in the assets listed and insufficient disclosure of liabilities.
It said a more detailed response to the handover documents would be issued separately.
The state government maintained that it was responding to issues raised by Obi rather than initiating the controversy and called on the former governor to acknowledge what it described as evidence of inherited liabilities.
It also urged him to apologise to the people of Anambra State and Nigerians over the disputed financial records.





