Former Anambra State Governor and Labour Party presidential candidate, Mr. Peter Obi, has released his official handover document to counter claims by the Anambra State Government that his administration left behind loans and other financial liabilities.
The document, dated March 17, 2014, details the financial position of the state at the time Obi left office, showing a net positive balance of over ₦86 billion.
Obi made the document public following recent statements credited to the state government that loans incurred by previous administrations, including his, were still being serviced.
According to the handover notes, the ₦86 billion comprised cash investments, bank balances and other liquid assets left in the state’s coffers. The former governor has consistently maintained that he left no debt for his successor, insisting that he handed over a solvent and financially stable state.
The Anambra State Government, however, has maintained its position that outstanding loan obligations linked to previous administrations, including Obi’s tenure, remain unpaid. The government argues that some of the financial instruments and bonds initiated during past administrations have long-term repayment schedules that extend beyond 2014.
The development has reignited a long-standing debate over the true financial status of Anambra State under Obi’s administration between 2006 and 2014.
Supporters of the former governor say the release of the handover document has vindicated his long-held claim of fiscal prudence and accountability. They argue that the document, which was formally submitted to his successor, remains the most authentic record of the state’s finances at the time.
Critics, however, insist that the existence of cash balances does not necessarily mean there were no contingent liabilities or contractual obligations while some Political observers note that the controversy comes at a time of heightened political activities ahead of the 2027 general elections.
Obi, who has continued to enjoy significant support among Nigerians, especially youths, has often cited his record in Anambra as evidence of his capacity for prudent financial management.
In the handover document, he reportedly detailed all bank accounts, investments in various financial institutions and the status of ongoing projects across the state.
As at the time of filing this report, the Anambra State Government was yet to issue an official response to the document released by the former governor. Meanwhile, stakeholders have called for an independent audit of the state’s finances to put the matter to rest and provide clarity for the public.
In a reaction, a close aide to Obi said the former governor decided to release the document to set the records straight and prevent distortion of facts for political reasons. He stressed that Obi remains committed to transparency and accountability and would not hesitate to provide clarifications whenever his stewardship is called to question.
Some economic analysts who reviewed the document said the figures indicate that Anambra was one of the few states in the country that was not indebted to banks as at March 2014.They however advised that the current administration should publish its own audited financial statements to allow for objective comparison.
The controversy is expected to continue to generate public interest as both sides present further details to support their positions.
