Peter Obi Defends $150 Million, ₦36 Billion Savings, Dares Critics To Verify Records

The former governor of Anambra State, Peter Obi has addressed his decision to leave office in 2014 with about $150 million and 36 billion in state savings.

He explained that the funds were legitimately invested across three commercial banks, adding that all investments were transparent and could be independently verified.

NEWSNGR reports that Obi made the disclosure during an interview with media entrepreneur Chude Jideonwo.

Responding to claims that he deposited Anambra State funds in banks with which he allegedly had links, Obi said critics were entitled to their opinions but maintained that the records were open for scrutiny.

“Whatever you do, people have their views,” Obi said.

He explained that the state had $50 million and ₦12 billion in Diamond Bank, another $50 million and ₦12 billion in Fidelity Bank, and a further $50 million and ₦12 billion in Access Bank when he handed over office.

“We had, for example, when I left, I had 50 million dollars in Diamond Bank… Same bank. Does Anambra State have the money? Anambra State savings… 50 million dollars in Fidelity Bank, which is supposed to be the bank I’m involved in… 50 million dollars in Access Bank,” he said.

According to him, the dollar deposits were invested in bonds at publicly known rates and did not result in losses to the state.

“Go to those banks. Let me start with the dollar. There are bonds; the rates are as issued. Everybody knows the rates. Go to them and see if there’s anyone who has been shortchanged,” Obi added.

The former governor challenged critics to identify another Nigerian state where a governor left office with comparable savings.

“Today, who else has saved? Show me any other sub-national state in this country where a governor has left with savings. One. And I’ll stop running,” he said.