Nigeria Democratic Congress 2027 presidential candidate Peter Obi strongly refuted claims from the Anambra State Government that his administration left behind unpaid salaries, pensions, gratuities, contractor debts, and a ₦2 billion ecological loan, threatening to halt his presidential campaign if any discrepancy is proven.
The financial dispute erupted after Anambra State Commissioner for Finance Izuchukwu Okafor appeared on a government media podcast to discuss the state’s economic standing under Governor Charles Soludo. During the broadcast, the finance commissioner asserted that the current administration continues to service loan obligations incurred by past governors, explicitly naming Peter Obi and Willie Obiano as the officials tied to the outstanding debt commitments. The claims brought long-running debates over the state treasury back into sharp focus.
Commissioner Okafor Details Inherited Obligations and Federal Deductions
According to the state financial leadership, Governor Soludo’s administration has intentionally avoided borrowing new commercial bank loans since taking office in March 2022. Instead, state officials maintain that fiscal policy centers on reducing inherited liabilities and managing legacy debt.
Despite the absence of fresh commercial borrowing, financial commitments remain active through development facilities and statutory deductions. As Commissioner Okafor explained, funds allocated to the state through the Federation Account Allocation Committee experience automatic subtractions to service earlier agreements. Before allocations reach Anambra, debt service payments for World Bank loans and other institutional commitments are deducted directly.
At the same time, the Soludo administration maintains that its fiscal discipline has yielded dramatic results. The state finance ministry reports that the overall state debt profile dropped by more than 83 per cent under the current leadership, bringing domestic debt close to zero after clearing multiple unpaid contracts, gratuities, and pension arrears.
Peter Obi Fires Back With Specific Bank Accounts and Vows to Quit Campaign
Reacting from Washington, DC, Peter Obi dismissed the state government’s narrative as false, offering explicit financial records to counter allegations regarding contractor liabilities and the disputed ecological funds. The former governor maintained that his administration balanced every financial obligation before handing over power.
Addressing the specific allegation regarding a ₦2 billion ecological loan, Obi clarified that the federal government disbursed the funds merely three months before his tenure ended. Rather than spending the money, he chose to preserve it for his successor, Willie Obiano, because the grant was dedicated to the Oko/Umuchiana erosion crisis.
To substantiate his defense, Obi published precise banking information, inviting independent verification of the treasury’s condition at the close of his gubernatorial term. He stated that the money was left 100 per cent intact in First Bank, domiciled in Account No. 2018779464, with a balance exceeding ₦2.13 billion.
I say it again, if you go to the account, I’m going to give you the account number. I have given you the bank and the branch.
Peter Obi, former governor of Anambra State
Contrasting Legacies of Fiscal Prudence and Savings
The public sparring highlights contrasting assessments of financial stewardship in Anambra State across administrations. Obi built his political identity around conservative budgeting, frequently pointing to the $150 million he accumulated in savings across Access Bank, the defunct Diamond Bank, and Fidelity Bank, which generated interest rates of at least 6.5 per cent.
While Obi maintains those savings—alongside an additional ₦75 billion left behind—provided a secure foundation for incoming leadership, current officials emphasize that long-term external obligations and structural development loans continued to impact state revenues long after handover dates.
National Politics and the 2027 Horizon
Beyond the local fiscal dispute, the disagreement touches on broader political realigning as incumbent governors position themselves ahead of the 2027 general elections. Governor Soludo, a member of the All Progressives Grand Alliance, has publicly expressed support for President Bola Tinubu of the All Progressives Congress.
Asked about the backing from more than 30 governors rallying behind the presidency, Obi adopted a pragmatic stance on political alignment while urging adherence to democratic principles.
It’s about over 30 governors today supporting the president. And it is politics and their rights to support whoever they want. I’m not urging them to support me.
Peter Obi, Nigeria Democratic Congress presidential candidate
With political tension rising around both historical state finances and future national ballots, public attention now turns to whether state authorities will audit the specific First Bank ledger furnished by the former governor or if the verbal exchange will shift toward the upcoming electoral cycle.
