Presidential candidate of the Nigeria Democratic Congress (NDC), Peter Obi, has insisted that he did not borrow money or issue bonds on behalf of Anambra State during his tenure as governor.
Obi made the clarification during an interview on Arise Television’s Prime Time programme on Thursday, September 24, 2026.
The former governor was responding to allegations by the Anambra State Government over loans and other financial liabilities allegedly linked to his administration.
Obi denies borrowing loans
Obi said he never approached a financial institution to obtain a loan or issue a bond for Anambra during his eight years in office.
He also maintained that he handed over the state in March 2014 without outstanding salaries, gratuities or pensions that were due for payment by the state government.
According to him, contractors and suppliers who had completed their jobs and whose work had been certified and verified were also not owed.
Obi said:
“I, Mr Peter Obi, did not approach any financial institution to borrow money or issue bonds on behalf of Anambra State in the eight years I was in government.”
He added that the financial position of the state at the time of his departure should be assessed based on the actual funds drawn and obligations incurred.
Obi explains World Bank funding
Addressing the loans being associated with his administration, Obi said some of the funding arrangements were concessionary development facilities supported by the Federal Government.
He explained that Anambra, Ekiti and Bauchi were selected for multilateral support because of their performance in education.
According to Obi, the World Bank funding was not a commercial loan personally obtained by his administration.
He specifically referred to the State Education Programme Investment Project (SEPIP), arguing that its drawdown occurred after he had left office.
Obi said the distinction between an approved facility and funds actually drawn was important when assessing the state’s liabilities.
Anambra Government disputes Obi’s claim
The controversy follows recent statements by the Anambra State Government, which has maintained that loans contracted during Obi’s tenure remain part of the state’s financial obligations.
The state government said records from the Debt Management Office showed eight external borrowings associated with the period, with an outstanding balance that it put at about N127.4 billion as of June 30, 2026.
Obi has rejected that interpretation and said the relevant financial records, including details of funds and investments left by his administration, should be examined.
The dispute remains centered on whether the facilities listed against Anambra should be regarded as debts incurred by Obi’s administration and what amounts had actually been drawn before he left office.
