Senator Adams Oshiomhole has challenged former Anambra State governor Peter Obi to explain how he accumulated approximately $150 million in savings while in office, questioning how the funds were obtained when states receive federal allocations in naira.
Oshiomhole, who represents Edo North and previously served as Edo governor and national chairman of the All Progressives Congress (APC), made the remarks during an interview with Symfoni TV published on Thursday.
He questioned whether Obi converted funds received from the Federal Government into dollars before saving them for Anambra State.
Oshiomhole recalled that he and Obi were members of the National Economic Council, chaired by the vice-president, when state governors pushed for their allocations to be paid in dollars because of the difference between the official exchange rate and the market rate.
According to Oshiomhole, the Federal Government rejected the proposal, maintaining that the naira remained 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?” he asked.
Oshiomhole Disputes Obi’s Claim of Not Borrowing
The senator also questioned Obi’s assertion that he did not borrow money during his eight years as Anambra governor.
Oshiomhole argued that funds obtained through World Bank facilities could still constitute loans, even when repayment was postponed through a moratorium.
He said he also accessed World Bank financing while serving as Edo governor, including facilities described 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,” Oshiomhole said.
He explained that repayment delays could allow a governor to leave office before a loan becomes due, leaving the next administration responsible for meeting the obligation.
Oshiomhole said he believed this was the point Anambra Governor Chukwuma Soludo had attempted to make when discussing Obi’s financial record.
Senator Calls Loan-Related Recognition Claim ‘Another Lie’
Oshiomhole also criticised claims surrounding Obi’s borrowing history, referring to a reception reportedly organised by the director-general of the Debt Management Office (DMO) to recognise the former governor for allegedly not submitting loan applications for approval.
The former Edo governor described the claim as “another lie”, although the interview excerpt provided no further details to substantiate the allegation.
Dispute Over Anambra’s Debt Record
Obi, who governed Anambra State for two terms before leaving office in 2014, has consistently maintained that he did not burden the state with debt during his administration.
He recently reiterated his position in an interview with Arise TV while responding to allegations that he left behind outstanding loans and financial liabilities.
However, Law Mefor, Anambra State commissioner for information and value reorientation, previously claimed that Obi left $123.77 million in debt at the end of his tenure.
The competing claims over the former governor’s savings and borrowing record have kept attention on Anambra State’s finances during and after his administration.
Source: Symfoni TV interview
