The presidential candidate of the Nigeria Democratic Congress, Peter Obi, has insisted that he did not borrow money or issue bonds on behalf of Anambra State during his eight years as governor. He recently had his say during Arise TV’s “Prime Time” programme, and Nigerians have been reacting.
Stressing that his administration left office in March 2014 without owing salaries, gratuities, pensions or contractors, Obi stated that the loans being attributed to his government were not funds he personally obtained from financial institutions.
Arguing that some of the funding arrangements were supported by the Federal Government, the former governor added that FG selected Anambra, Ekiti and Bauchi states to receive concessionary multilateral support because of their performance in education.
His words, “Let me categorically state again: 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.
On the day I left office, the government of Anambra State, which I headed, was not owing any salary, gratuity, or pension to those scheduled to be paid by the state government. We were not owing any contractor or supplier who executed his job, certified and verified—not one.
I didn’t go to obtain it. But what I’m saying, assuming that your father left you with inheritance of 100 million, and suddenly somebody comes up and say your father is owing 10 million. Are you going to go to the market and say your father left you with debts? Unless there’s another thing, you’ll be unfair.
There’s a difference between I went to the bank to borrow money, then federal government sees, ‘Oh, this state is doing well in education.’ They selected Anambra, Ekiti, and Bauchi and said, ‘These three states are doing well. Why don’t we give them a concessionary multi-lateral support to help them?’
Yes, and the World Bank.
To support us. Not that we go to World Bank and say give me this, not that we go to any commercial bank. And to even make it more… when it came, if you look at State Education Program Investment Project (SEPIP), you will see that the drawdown was well after I left office.
I’ve assumed the whole and said even if that was the case, there was enough left to pay it, and the state will still be at the best financial standing.
Even if I had gone to bank and borrowed money—even if I had gone to bank and borrowed money, but I did not spend the money, you cannot call it debt I left.
Assuming I have gone to the bank and say, ‘Bank A, borrow me loan, Give me a loan of 10 billion. And they gave me a loan of 10 billion Naira, and I only drew down 500 million, you cannot now say I’m owing 10 billion because you know the amount. That’s why I said it is not proper public sector accounting.
To even confirm this: the then DG of our… Abraham Nwankwo, who was DG of Debt Management Office, served for 10 years. The day he left office, his send-forth party, he invited me as the chairman. And he announced it to everybody at that party that the reason why he made me chairman is because I was the only governor in Nigeria who never came to his office for approval to borrow money.”
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