By Tony Okafor, Awka
Former Anambra State Governor, Peter Obi, has described the state government’s claim that he left behind $123.77 million in debt as “poor public accounting.”
Obi stated this in an interview on Arise TV while responding to the controversy over the state’s external debt and the multilateral development financing accessed by Anambra.
“Assuming it’s correct but it is not, If your father left you with 100 dollar inheritance and somebody shows to say your father is owing him 10 dollar, will you claim your father left debt for you ?, Obi asked.
According to him, the $123.77 million being presented as debt left by his administration represents a combination of different figures that ought to be treated separately, including the total amount approved for multiyear development programmes, the amount actually drawn by Anambra and the balance outstanding at the time he left office on March 17, 2014.
He said the facilities in question were largely World Bank and International Fund for Agricultural Development (IFAD) development programmes negotiated by the Federal Government, with participating states accessing the funds through subsidiary arrangements.
Obi maintained that he did not approach any financial institution to borrow money or issue a bond on behalf of Anambra State during his tenure as governor.
He challenged the state government’s figures with records he attributed to the Debt Management Office (DMO), saying Anambra’s external debt stood at about $18 million when he assumed office in March 2006 and approximately $30 million when he left office in March 2014.
He added that the DMO records showed the state’s external debt at approximately $45.15 million as of December 31, 2014, nine months after he left office.
Obi therefore questioned how he could have left $123.77 million in debt when the state’s recorded external debt was about $30 million at the time he handed over power.
The former governor also said he left office without unpaid salaries, gratuities or pensions, and without outstanding payments to contractors or suppliers whose completed works had been verified and certified by the government.
He further claimed that he left more than $150 million as the dollar component of the state’s investment, which, according to him, could have generated about $10 million annually if retained.
Obi argued that even if the alleged $123 million debt figure were correct, the annual income from the funds would have been sufficient to offset the amount over the years.
He said documents supporting his claims could be independently verified with the relevant banks, insisting that he left Anambra State in a strong financial position.
Obi, who said he had no disagreement with Governor Chukwuma Soludo, added that he would not engage in further exchanges over his tenure as governor, saying his focus was now on issues affecting Nigerians and his presidential ambition.
