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Senator Adams Oshiomhole has questioned former Anambra State governor Peter Obi’s claim that he saved about $150 million while in office, asking how the funds were accumulated when state governments received their federal allocations in naira.
Oshiomhole, who represents Edo North Senatorial District and is a former governor of Edo State, raised the questions during an interview with Symfoni TV published on Thursday.
He recalled that he and Obi were members of the National Economic Council, chaired by the vice-president, when state governors sought to receive their allocations in dollars because of the difference between the official and market exchange rates.
According to Oshiomhole, the Federal Government rejected the proposal, maintaining that the naira was Nigeria’s recognised currency.
He therefore questioned how Obi could have built up dollar savings from allocations paid in the local 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.
The senator also challenged Obi’s assertion that he did not borrow money during his eight-year tenure as governor, arguing that loans obtained through World Bank facilities remain debts even when repayment is postponed.
Oshiomhole said he accessed similar facilities while governing Edo State, including arrangements 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,” he said.
He explained that repayment moratoriums could allow an outgoing governor to leave office before a loan becomes due, transferring the repayment responsibility to a successor administration.
Oshiomhole suggested that this was the issue Anambra State Governor Chukwuma Soludo had sought to clarify while discussing Obi’s financial record.
The former APC national chairman also disputed claims that Obi had not applied for loans requiring approval during his tenure. He referred to a reception organised by the director-general of the Debt Management Office to recognise the former governor for allegedly not seeking approval for loans.
Oshiomhole described the claim as “another lie”, although the interview excerpt did not provide further evidence to support the allegation.
Obi left office in 2014 after serving two terms as Anambra governor. He has maintained that he did not leave the state burdened with debt and reiterated his position in a recent interview with Arise TV while responding to allegations about outstanding loans and liabilities.
However, Anambra State Commissioner for Information and Value Reorientation, Law Mefor, had previously claimed that Obi left a debt of $123.77 million at the end of his administration.
