₦airaland Forum

GloriousGbola:
i wonder what he used the loan for

i am sure we will soon find out

hopefully it is not that alleged loss making brewery

In the N25.6bln Investments Obi left for Obiano, N22.5bln was a $150m Eurobond which is easily liquidated in a day if Obiano wishes

It not like he left dollar loan against Naira assets that can't be liquidated. Dollar for Dollar, Obiano was well covered with plenty change to spare

The reason Obi is liquid today compared to his colleague Governors is he has always been abroad facing since the early 90s and has the knowledge and vehicles to operate in foreign currency. While they put their loot in Nigerian companies and real estate and deteriorate, Obi sent all his loot abroad (Pandora papers as example) and has benefited massively from Foreign Exchange exposure

Same way he left $150m Eurobond for Obiano, so nobody should complain he left dollar debts without dollar assets that cover it 5 to 1 ($150m Eurobond to $30m debt). Numbers don't lie, we don't have to bring agenda into numbers.

GloriousGbola:
@ibime, how can one confirm if this is accurate?

lotta handbags here if this is true

DMO has $30m as at Dec 2013, closest date to March 2014 handover.

At N150 to $1 then, hence my N4.5bln figure

swiz123:
Ibime, I see the level of your useless carpenter Gordon — an unworthy sub in a cricket score line win.

You've been hating that nigga from Everton to Barcelona. Shame suppose done catch you by now. That's like claiming a boy won't make it in Surulere, still hating on him when he move to Lekki, and still claiming he's worthless when he makes it to Banana island

For the record, Peter Obi did leave debt at Anambra but also left very healthy Working Capital that covered the debt

His claim of leaving Anambra debt free is just an uninformed way of saying he left a positive Working Capital to long term liabilities ratio.

Soludo has an axe to grind and has added interest compounding over the years and foreign exchange drift to the principle Obi borrowed to land at a figure that tarnishes his reputation

This is the truth of the matter:

Obi left N9 billion in cash and N25.6bln in investments less N15bln in short term liabilities to contractors. This has been verified from several sources and in detail.

Therefore Net Current Assets = N9bln + N25.6bln - N15bln = N20.6 bln

In long term liabilities, he left N3bln in domestic debt and the equivalent of N4.5bln in external debt,

Therefore Long Term liabilities = N7 5bln


Net Current Assets therefore covered Long term liabilities by a factor of almost 3 to 1. This is called the Working Capital to long term liabilities ratio

If are familiar with the concept of Free Reserves in non-profits, you can take the Net Current Assets of N20.6bln minus the N7.5bln long term debt and be left with N13.1 bln as free reserves, assuming all reserves are unrestricted.

That means if Obiano immediately liquidated all near-cash instruments that Obi left him and immediately paid all contractors and paid off long term debt, he would have been left with N13.1 bln spare cash.

Theflint1:
If your state has an outstanding debt from DMO that's say 2.3 Billion, yet in the bank and other forms of savings leave money that would pay that debt times over, you left the state debt free.

Neutrals always want to create non-issues.

Is the number you quoted what DMO said?

Spy360:
So what's the result of your AI search. Educate me

Type in Google Anambra debt in Dec 2013 or March 2014 and use AI mode, it will direct you to the DMO

Spy360:
Did Peter Obi leave any debt? Question

Here is what President GEJ has to say...

This is Goodluck Jonathan Testifying that at when Peter Obi was leaving office, Anambra state was not owing anybody.

Soludo must be a very madman. pic.twitter.com/PJybpf0yfc

— Akwa Ibom 1st Son (@ukocarter) September 15, 2026

Nigeria has a Debt Management Office which publishes States Foreign and Domestic debts monthly

In the era of AI, it's simply lazy to rely on the words of his zoologist friend than ask AI to tell you what the accountants at the DMO reported as Anambra debt in any specific month

https://www.nairaland.com/8748651/taiwo-awoniyi-bags-postgraduate-diploma

I always liked this boy personality. He resemble who get sense. And his mentor is Seyo Olofinjana wey get sense well well

Brentford no rate Benjamin. Frederick at all. Chopping be ch in Carabao. He should find his way out of there. That boy too good for bench

BlueRayDick:
Elder has money illusion ; you can tell with the way he randomly calls figures and ascribes money to people anyhow .

In Warri and Niger Delta in general, everyone from HOA members to LGA Chairmen loot yakata

Lagos is a saner clime where a HOA member may not loot wotoporiously because the Lagos APC structure has discipline and some boundaries plus many people to accommodate. Everybody chop small small there

Spy360:
Nigerians that travel to UK for education, do they go to private universities or public?

Just asking

UK unis are privately owned

Who actually convinced this girl she was fine and should enter for pageant?

[quote author=airmark post=140640993]

This is one of the reason's why I wanted Enzo Fernandez o
To come to Manchester City , he has the hunger in him. pic.twitter.com/2vLh6bE1F2

— Cityzen FTX (@C1TY_VAR) September 15, 2026

never did this at Chelsea, though he did for Argentina. He felt he was bigger than Chelsea. The reason we call him Ghost worker is particularly for not tracking his man. Good riddance.

Roland17:
The truth is, this is Nigerian politics, he has no choice, especially if he wants to remain a politician in Lagos State. Gbaja through Asiwaju and APC control Surulere and is influential in the politics of the state. Every political decision that affects Surulere and many aspects of Lagos go through Gbaja.

At 52, Desmond is still young in politics, while at 64 Gbaja is still going to be around for a while. Ambode did the same thing to Asiwaju, difference is we don't have videos but we know there was a lot of begging. He has since been reintegrated into the party and will have to wait another opportunity which will happen in the near future.

Desmond's "begging" isn't about today, it is about tomorrow, otherwise, he will fizzle out. Lagos has a ton of young and bright politicians waiting in the wings for an opportunity. I think this was released to further embarrass him, how Desmond responds going forward will determine a lot. In comparison to Ambode, Desmond's is worse because of how he conducted himself publicly in the buildup and on the day of election.

You spoke well about the future

But Desmonds is not worse than Ambodes. Ambode that went on camera and accused Sanwo Olu of being committed to a psychiatric institution in his younger days

GloriousGbola:
This is the thing

The primaries are already done and dusted and that madam what's her name is already the nominee

So unless they are going to have her 'step down' I am not sure what this is about

It's about getting contracts

Being part of the political family is not just about getting elected post but consideration for contracts

92 points, we eating good

popizaino:
A bag of cement is N15,000 and 1Ltr. of fuel is N1,500 on top 70k minimum wage?

God abeg ooo😥

Focus on Maresca and leave Tinubu for now

timbros:
Popizaino how market?

Nigga no want let us hear word after Community Shield

I repeat, what Maresca did with Chelsea under the conditions, while forced to accommodate scrubs like Nkunku, Felix, Fofana, Badiashile, Kittens, Garnacho etc was nothing short of miraculous

Only those wey no know ball go underrate him performance

swiz123:
Wait o!! Man city get red

Maresca you GOAT

Obviously you were watching on live scores hence your complaint at the style of play not knowing they were down to 10

36 points from my Brighton contingent. . . .we eating good

The only reason Fofana is still at this club is because nobody else will absorb his massive £300k wages

It shall not be well with you Tuchel!

BTW that Shea Charles that Fulham signed from Southampton is a good DM. He could have done a good job for us at DM too

rooftops:
I don't know what is wrong with new set of managers or is it the ones Chelsea employs.
Why don't they understand that you don't just change centre back pairing every game.

I am not saying we won't have conceded if lacrois had started but if he had this increases the understanding between him and the defenders.
Konsa and Gabriel have played almost all the matches, and if possible aterta will even continue with that pairing unless saliva comes back

Lacroix would have definitely won the header Fofana let through in the build up to the first goal

See better ball Delap dey play for Forest

But he decided to turn Brock Lesnar here

Maybe pressure of João Pedro put him off his game

popizaino:
Rogers has been the worst of the lot if we are being real,forget the goals and he has been mid all season.

Copied#

3 goals, 5 assists in 4 games

Park well

rooftops:
Hahahaha... I am happy that lie has been put to test and the result didn't surprise me one bit. Na the colwill lie remain make dem expose.

Have never been impressed with Colwill at all

Lavia, you can't judge a player without any decent run of football in 4 years. Most players retire if they get an injury that will take them out for 2 years

Sportsweb:
So finally Lavia has been exposed as a normal average Midfielder rather than high hopes fans were heaping on him

"If Lavia was fit, this and that will happen"

3.5 years without football, you cannot be the same player physically. The touch is there, the stamina is not

Raya will upend the tables today oh

First shall be the last and last shall be the first depending if you get Raya

popizaino:
Malo Gusto and Neto are both tactical cheats,so James is needed in the midfield to accommodate the two in thr line up.

Tactical cheats without any meaningful contributions.

As dem say Neto na tactical cheat, I wanted to ask if Gusto is also one

popizaino:
Did Neto shoot on target?

Did he have key passes?

Did he create scoring opportunities?

How many minutes did he play?

Aside Roger scoring how well does he link up with his teammates with key passes?

Rogers wey just drop 4 assists on Wednesday. Take time with agenda oh

Looking like a poor gameweek already with captain on Palmer

Church mind had told me to put in on João Pedro or Haaland

fredoooooo:
Lavia got caught and lose ball more than him ever since hes being at Chelsea..
He still need to prove himself ..
All these side passese no be football

Nope, Lavia won't get caught with that much space to the man on his back.