The financial record of former Anambra State Governor Peter Obi has returned to the centre of public debate, with competing claims over the money, investments, loans and liabilities associated with his administration.
The controversy centres on the Peter Obi Anambra record, particularly the financial position presented in his March 2014 handover document and claims by successive administrations about what they inherited.
What Obi’s 2014 handover document showed
Obi handed over to Willie Obiano on March 17, 2014, after eight years as governor.
According to the handover document, Obi listed local investments worth ₦27 billion, foreign-currency investments of $156 million, certified state and ministry balances of about ₦28.17 billion, and a ₦10 billion Federal Government refund.
The figures amounted to approximately ₦91.67 billion.
The document then deducted an estimated ₦5 billion for liabilities, including March salaries, pensions and certificates for completed projects, leaving a stated net balance of about ₦86.67 billion.
Obi and his supporters have continued to rely on the document in arguing that his administration left Anambra in a strong financial position.
What Obiano’s administration said it inherited
The account presented by Obiano’s administration differed significantly.
In 2015, officials of the Obiano government said they inherited about ₦9 billion in cash and liabilities estimated at ₦185 billion.
The liabilities included obligations connected to ongoing projects and contracts awarded by previous administrations. Obiano later also said his administration inherited about ₦9 billion in cash and other assets.
The differing figures have remained a major part of the argument over the Peter Obi Anambra record.
Obi’s supporters point to the signed handover document, while critics rely on statements from the succeeding administration about the financial obligations it encountered.
The dispute over external loans
A separate disagreement concerns eight external financing facilities linked to projects implemented during Obi’s tenure.
The Anambra State Government has said the facilities had a combined contracted value of $123.77 million, with $92.35 million outstanding as of June 30, 2026. The state said the figures were based on debt records.
Obi has rejected the description of the facilities as loans personally taken by him. He said he did not borrow money or issue bonds on behalf of Anambra during his tenure.
The disagreement is therefore not simply about the existence of the financing facilities. It also concerns how they should be attributed and how much was actually drawn during Obi’s tenure.
The ₦2.13 billion ecological fund controversy
Another major point of disagreement involves an alleged ₦2.13 billion ecological fund.
Obi’s camp has maintained that the money was left in a First Bank account when he handed over power in 2014. Obi has said the funds were received from the Federal Government for an erosion-related project and remained untouched for his successor.
However, the Soludo administration says a certified bank statement did not support the claim.
According to the state government, First Bank confirmed that the account cited by Obi was actually an Anambra State IGR Consolidated Account, and that it did not record a ₦2.13 billion balance or inflow during the period examined.
Obi’s camp has disputed that interpretation and continued to insist that the funds were left in the account.
Why the debate remains unresolved
The conflicting accounts show why the Peter Obi Anambra record remains politically contentious more than a decade after he left office.
Obi’s position is supported by the handover document he signed, which recorded substantial investments and balances. His current position is that he left the state without outstanding salaries, pensions or liabilities for duly completed and certified projects.
The Anambra government, meanwhile, has cited inherited liabilities, external financing and bank records that it says challenge parts of Obi’s account.
Both sides have therefore presented documents and figures to support their positions.
The most disputed issues remain the value of the assets at handover, the liabilities attached to projects, the treatment of external financing and the whereabouts or classification of the ecological fund.
Until those competing records are independently reconciled, the debate over Obi’s financial legacy in Anambra is likely to continue.
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