Ex-Anambra State governor and Nigeria Democratic Congress (NDC) presidential candidate, Peter Obi, has again defended his handover of $150 million and N36 billion in state savings to the succeeding administration, insisting that the funds were legitimately invested across three commercial banks.
Speaking during an interview with media entrepreneur Chude Jideonwo which was published on Wednesday, Obi dismissed allegations that he personally benefited from the state’s funds, saying all the investments were transparent and could be independently verified.
Responding to claims that he deposited Anambra State funds in banks with which he allegedly had links, Obi said critics were entitled to their opinions but maintained that the records were open for scrutiny.
“Whatever you do, people have their views,” Obi said.
He explained that the state had $50 million and N12 billion in Diamond Bank, another $50 million and N12 billion in Fidelity Bank, and a further $50 million and N12 billion in Access Bank when he handed over office.
“We had, for example, when I left, I had 50 million dollars in Diamond Bank… Same bank. Does Anambra State have the money? Anambra State savings… 50 million dollars in Fidelity Bank, which is supposed to be the bank I’m involved in… 50 million dollars in Access Bank,” he said.
According to him, the dollar deposits were invested in bonds at publicly known rates and did not result in losses to the state.
“Go to those banks. Let me start with the dollar. There are bonds; the rates are as issued. Everybody knows the rates. Go to them and see if there’s anyone who has been shortchanged,” Obi added.
The former governor challenged critics to identify another Nigerian state where a governor left office with comparable savings.
“Today, who else has saved? Show me any other sub-national state in this country where a governor has left with savings. One. And I’ll stop running,” he said.
Obi has consistently maintained over the years that he left Anambra with substantial cash reserves as evidence of prudent financial management during his administration between 2006 and 2014.
His claims have been supported by some former banking executives, including Abia State Governor Alex Otti, who previously confirmed that some of the funds were invested in financial instruments.
However, Obi’s successor, Willie Obiano, and other critics have disputed the narrative, arguing that the administration inherited outstanding liabilities, including debts owed to contractors, and questioning whether the claimed savings reflected the state’s actual financial position.
