Adams Oshiomhole, senator representing Edo North, has questioned Peter Obi’s claim that he saved about $150 million while serving as governor of Anambra State, asking how the funds were accumulated when state governments received federal allocations in naira.
Gatekeepers News reports that Oshiomhole, a former governor of Edo State and ex-national chairman of the All Progressives Congress (APC), raised the questions during an interview with Symfoni TV published on Thursday.
He challenged Obi to explain how he converted the state’s naira allocations into dollars, recalling that governors had previously sought approval for their federal allocations to be paid in dollars because of differences between the official and market exchange rates.
According to Oshiomhole, he and Obi were members of the National Economic Council, chaired by the vice-president, when the proposal was discussed.
He said the Federal Government rejected the request, maintaining that the naira was Nigeria’s recognised currency.
“Where did you get dollars to save? Did you receive naira from Abuja and go to bid for dollars to save for Anambra state?” Oshiomhole asked.
Oshiomhole questions Obi’s claim on borrowing
The senator also challenged Obi’s assertion that he did not borrow money during his tenure as Anambra governor, arguing that facilities obtained from the World Bank could still constitute loans even when repayment was deferred.
Oshiomhole said he accessed World Bank facilities while serving as Edo governor, including arrangements known as budget support.
“If you are not paying it immediately, it’s not a loan? It’s in the books, and a future government will necessarily pay it anyway,” he said.
He argued that repayment moratoriums could allow an outgoing governor to leave office before a loan becomes due, leaving the succeeding administration responsible for meeting the obligation.
Oshiomhole said he believed this was the point Chukwuma Soludo, the incumbent Anambra governor, had sought to make in discussing Obi’s financial record.
The senator also criticised claims that Obi did not borrow while in office, referring to a reception reportedly organised by the director-general of the Debt Management Office (DMO) to acknowledge the former governor for allegedly not applying for loans for approval.
Oshiomhole described the claim as “another lie”, but the interview excerpt did not provide further details to substantiate the allegation.
Obi maintains he left no debt burden
Obi, who left office in 2014 after serving two terms as Anambra governor, has consistently maintained that he did not burden the state with debt during his administration.
He reiterated the position in a recent interview with Arise TV while responding to allegations that he left outstanding loans and other liabilities.
However, Law Mefor, Anambra commissioner for information and value reorientation, had previously claimed that Obi left $123.77 million in debt at the end of his tenure.
The competing claims have renewed debate over the former governor’s financial record, including the state’s savings, borrowing arrangements and outstanding liabilities when he handed over power.
