The Presidential candidate of the Nigeria Democratic Congress, Peter Obi, has insisted that he did not approach any bank or financial institution to borrow money or issue bonds on behalf of Anambra State during his eight years as governor.
Obi made the clarification on Thursday while featuring on Arise TV’s Prime Time, amid an ongoing dispute between him and the Anambra State Government over loans and other financial obligations allegedly linked to his administration.
The former governor said he left office in March 2014 without owing salaries, gratuities or pensions that were due for payment, adding that his administration also had no outstanding obligations to contractors or suppliers whose projects had been completed, certified and verified.
“Let me categorically say again, I, Mr Peter Obi, didn’t approach any financial institution to borrow money or issue bonds on behalf of Anambra State in the eight years I was in government,” he said.
“On the day I left office, I was not owing any salary, gratuity or pension that was scheduled to be paid by the government. We were not owing any contractor or supplier who has executed his job, certified and verified, not one.”
Obi’s comments followed claims by the Anambra State Government that his administration left outstanding external loans and other liabilities for successive governments to service.
The state government has said eight external borrowing facilities associated with projects during Obi’s tenure had an outstanding balance of about $123.77 million as of June 30, 2026, equivalent to about N127.4 billion at the applicable exchange rate.
However, Obi disputed the characterisation of the facilities as loans he personally obtained from financial institutions, explaining that some of the funding arrangements involved concessionary development support provided through the Federal Government and international development institutions.
He specifically referenced World Bank-supported programmes, arguing that the funds were not commercial loans obtained by his administration from a bank.
Obi also said the distinction between an approved facility and funds actually drawn was important in determining what constituted a debt incurred by the state.
He maintained that his administration left Anambra in a strong financial position and challenged relevant institutions to verify the figures contained in his 2014 handover documents.
The former governor has previously said his administration cleared more than N35 billion in historical gratuities and arrears and handed over the state without outstanding salary, pension or gratuity obligations.
The debt controversy has continued to generate conflicting accounts between Obi and the current Anambra administration, with the state maintaining that it is still servicing loans linked to previous governments, while Obi disputes the way the liabilities have been attributed to his tenure.