Senator Adams Oshiomhole has challenged Peter Obi to explain how he reportedly saved $156 million while governing Anambra State, questioning how the funds were accumulated when federal allocations to states were paid in naira.
Oshiomhole, who represents Edo North in the Senate, raised the questions during an interview with Symfoni TV published on Thursday.
The former Edo State governor said he and Obi served together on the National Economic Council, where governors reportedly sought to receive federal allocations in dollars because of differences between official and market exchange rates.
According to Oshiomhole, the Federal Government rejected the proposal and maintained that the naira was the country’s recognised currency.
He questioned whether Obi received naira allocations and then converted some of the funds into dollars to build the reported savings.
“Where did you get dollars to save?” Oshiomhole asked, challenging the former Anambra governor to explain the source of the foreign currency.
Oshiomhole Questions Obi’s Financial Record
The senator also disputed Obi’s claim that he did not borrow money during his time as governor.
Oshiomhole argued that funds obtained through World Bank facilities could still count as loans, even when repayment was deferred.
He said he accessed similar facilities while governing Edo State, including funding arrangements described as budget support.
According to him, a repayment moratorium does not mean a facility is not a loan. Rather, the obligation remains on the books and may fall due under a succeeding administration.
Oshiomhole argued that a governor could leave office before repayments begin, leaving a future government responsible for meeting the debt obligations.
He also cited Anambra State Governor Chukwuma Soludo’s criticism of Obi’s financial record, describing Soludo as knowledgeable on economic matters because of his background as an economist and former Central Bank of Nigeria governor.
Senator Accuses Obi of Making False Claims
Oshiomhole further challenged Obi’s account of an event organised by the Director-General of the Debt Management Office to recognise him for allegedly not seeking loan approvals.
The senator described Obi’s account as “another lie”. However, the report did not provide further details from the interview to substantiate that allegation.
Obi, who governed Anambra State from 2006 to 2014, has maintained that he did not leave the state burdened with debt.
He restated his position during a recent interview on Arise Television while responding to claims about outstanding loans and liabilities from his administration.
Anambra Debt Figures Fuel Fresh Debate
The controversy has also drawn attention to claims about Anambra’s financial position at the end of Obi’s tenure.
The state’s Commissioner for Information and Value Reorientation, Law Mefor, previously alleged that Obi left $123.77 million in debt when he left office.
That figure differs from the $156 million in savings discussed in Oshiomhole’s challenge, highlighting the competing claims surrounding the state’s finances.
The latest exchange has renewed debate over Obi’s record on savings, foreign currency holdings and borrowing during his eight years in office.
However, the claims made by Oshiomhole and other political figures remain allegations and should be assessed against relevant financial records and supporting evidence.