I Didn’t Incur Debt In Office, Obi Insists | Independent Newspapers Limited
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I Didn’t Incur Debt In Office, Obi Insists

Posted: Jun 9, 2015 at 3:28 pm   /   by   /   comments (0)


By Chukwujekwu Ilozue, Awka




The former Governor of Anambra State, Mr. Peter Obi, on Tuesday, June 9, 2015, said that he did not incur any debt or borrow from any organisation, both within and outside the country when he was the state governor.

He spoke through his Media Aide,  Mr. Valentine Obienyem.

The ex-governor said that the clarification was necessary following report, which classified Anambra among tho states owing various sums of money, with names of their culpable governors attached.

Obi said that the error in the case of Anambra State was that the report gave the impression that N17.6 billion was incurred during Obi’s tenure.

He said: “While we recognize that states are owing under different governments, I make bold to say that under Mr. Peter Obi Anambra State did not borrow any money nor raise bonds. The state only guaranteed the sum of N1 billion borrowed by farmers in the state from Fidelity Bank. The development loan offer from the World Bank for education and erosion control, which has a 40-year moratorium, was not drawn down by Peter Obi ‘s government. Not even one kobo was taken when Obi was the governor.”

The ex-governor’s aide, in his own contribution explained: “The irony of the Nigerian situation today was that while other states raised bonds and borrowed money and still owed salaries and consequently left big debts, Mr. Peter Obi fulfilled all his financial obligations without owing salaries or contractors; and without raising bonds.

“Despite this, he still left N75 billion (cash and investment) for the state. It is on record that he even liquidated arrears of pension and gratuities amounting to over N37 billion owed in the state since 1991.

“Even in his handover note, Obi excluded about N5 billion already made available to pay the March 2014 salaries, pension and gratuity as well as for certificates for already executed projects as part of the money he was leaving behind”, Obienyem said.

Obienyem, who described Obi as a prudent and consummate financial planner, said that the  $156 million he saved and interest accruing there to was  today worth over N35 billion, excluding the naira component of the money he left”, he said.

Obienyem disclosed that the Debt Management Office (DMO) can always confirm the financial situation of Anambra State during the time of Obi as governor.

He also challenged any person insinuating that Obi borrowed money to name the financial institution through which he did such.