₦airaland Forum

PETER OBI'S ANAMBRA BOOKS: ONE HANDOVER, TWO SUCCESSORS AND A 12-YEAR ARGUMENT THAT REFUSES TO DIE

There is something increasingly curious about Peter Obi's famous Anambra financial record.

The argument Nigerians are watching between Obi and the Soludo administration did not begin with Charles Soludo. We have been here before. Almost line for line. With Willie Obiano.

And when a financial dispute survives two successor administrations and twelve years, perhaps it is time to stop listening to political speeches and reconstruct the paper trail.

DECEMBER 2013: THREE MONTHS BEFORE PETER OBI'S HANDOVER
Nigeria's Debt Management Office recorded Anambra as having approximately ₦3.026 billion domestic debt and $30.324 million external debt as of December 31, 2013. Peter Obi was still governor. Keep those numbers somewhere. We will return to them.

MARCH 2014: OBI'S FAMOUS ₦75 BILLION

As Obi prepared to leave office, he publicly announced that his administration was leaving approximately ₦75 billion in savings and investments. Note handover summary released this by tanko broadly corroborates the financial structure he described.

Here is the breakdown : Local investments — ₦27bn. Foreign-currency investments — ₦26.5bn. Certified State/MDA balances — ₦28.166bn. FGN-approved refund — ₦10bn. Total — approximately ₦91.666bn.

Impressive. But then comes a line that deserves considerably more attention: ESTIMATED LIABILITIES — ₦5 BILLION.

After deducting that, Obi's document arrives at a net position of approximately ₦86.666bn. In other words, even Obi's own document does not literally say: ZERO LIABILITIES. Also note the word ESTIMATED before the word LIABILITIES.

2015 : ENTER WILLIE OBIANO .Barely a year later, the story exploded. Obiano's government said Obi's presentation was a “half-truth.”

Why? Because, it argued, Obi was talking loudly about the ASSET side of the balance sheet while Nigerians weren't hearing enough about the LIABILITY side.

The Obiano administration put total[b] inherited project commitments[/b] at approximately ₦185.1 billion.

Obi rejected this. And he had an important argument. If I award a ₦10 billion road and the contractor has executed ₦4 billion worth of work and has been fully paid for that work, you cannot simply call the unexecuted ₦6 billion “debt.”

A CONTRACT VALUE IS NOT AUTOMATICALLY A PAYABLE DEBT. I disagree, but for the purpose of argument let's even conceed.

But notice what had happened. The governor - Obi's own hand picked succesor- who actually received Obi's handover was disputing Obi's characterization of what he handed over.

2017: SAME ARGUMENT, LOUDER VOLUME. By the 2017 Anambra election, the disagreement had become political warfare.

Victor Umeh- YES- you read right- the same , now Senator Victor umeh in 2017, again accused Obi of leaving massive obligations.

Obi fought back with bank statements. He identified balances across Fidelity, Diamond, First Bank, Access, UBA, Zenith and other banks. He challenged his biggest contractors and suppliers to identify one properly executed and certified job for which he owed them money.

Again, notice Obi's language. Not: ANAMBRA HAD NO FINANCIAL OBLIGATIONS WHATSOEVER. Rather, increasingly: I DID NOT OWE CONTRACTORS FOR WORK DULY EXECUTED AND CERTIFIED.

Here, Obi appears to be clever by half. The contracts had already been awarded, creating contractual commitments, while completed and certified work could create accounts payable and therefore liabilities.

The real question is not merely what had been certified for immediate payment, but what obligations Anambra had already incurred and which of them accounting standards required to be recognised or disclosed.

Those obligations cannot simply disappear from the liability conversation because the next certificate had not yet arrived.

And throughout this argument sat the inconvenient federal record: DMO had already recorded formal domestic and external Anambra debt while Obi was governor.

2026: ENTER CHARLES SOLUDO

Twelve years after Obi left office, another successor administration is challenging his financial legacy.

Soludo's government says eight external facilities contracted during Obi's tenure originally totalled $123.77 million and that balances from those facilities remain under repayment.

It also alleges inherited salary, gratuity and pension obligations. And suddenly the old argument has returned:

OBI: I LEFT ASSETS AND NO UNPAID DUE OBLIGATIONS. SUCCESSOR GOVERNMENT: YOU ARE TALKING ABOUT ASSETS WITHOUT TELLING THE COMPLETE LIABILITY STORY.

Does that sound familiar? It should. Obiano was making essentially that complaint eleven years ago.

TWO SUCCESSORS. SAME PREDECESSOR. SAME ARGUMENT. If one successor disputes your financial inheritance, politics is a plausible explanation.

When the governor who directly succeeded you disputes it, and twelve years later another administration raises related questions, while independent DMO records confirm that formal debt existed THREE MONTHS near your exit, the reasonable conclusion is almost obvious.
And herein lies CharlesCNG main grouse with peter Obi and the obidient's movement. The same Pattern repeats with almost everyone and every thing: Abuse and accuse instead of addressing issues.

Perhaps the most remarkable thing about Peter Obi's celebrated Anambra financial record is that, twelve years later, Nigerians still need political interpreters to explain what should be ordinary arithmetic.

Honestly , this obi matter don tire me!! The matter don tire calculator sef!!!

Next :DOES PETER OBI UNDERSTAND THE MEANING OF THE WORD “DEBT”? Stay tuned with CharlesCNG.

How many topics have you created now on Peter Obi. We have 36 Governors, this is 12 years now, How many can make same claim? It shows PO is a man of integrity.

He set a standard, and because his successors can't match up to his integrity is not his fault.

CharlesCNG:
PETER OBI'S ANAMBRA BOOKS: ONE HANDOVER, TWO SUCCESSORS AND A 12-YEAR ARGUMENT THAT REFUSES TO DIE

There is something increasingly curious about Peter Obi's famous Anambra financial record.

The argument Nigerians are watching between Obi and the Soludo administration did not begin with Charles Soludo. We have been here before. Almost line for line. With Willie Obiano.

And when a financial dispute survives two successor administrations and twelve years, perhaps it is time to stop listening to political speeches and reconstruct the paper trail.

DECEMBER 2013: THREE MONTHS BEFORE PETER OBI'S HANDOVER
Nigeria's Debt Management Office recorded Anambra as having approximately ₦3.026 billion domestic debt and $30.324 million external debt as of December 31, 2013. Peter Obi was still governor. Keep those numbers somewhere. We will return to them.

MARCH 2014: OBI'S FAMOUS ₦75 BILLION

As Obi prepared to leave office, he publicly announced that his administration was leaving approximately ₦75 billion in savings and investments. Note handover summary released this by tanko broadly corroborates the financial structure he described.

Here is the breakdown : Local investments — ₦27bn. Foreign-currency investments — ₦26.5bn. Certified State/MDA balances — ₦28.166bn. FGN-approved refund — ₦10bn. Total — approximately ₦91.666bn.

Impressive. But then comes a line that deserves considerably more attention: ESTIMATED LIABILITIES — ₦5 BILLION.

After deducting that, Obi's document arrives at a net position of approximately ₦86.666bn. In other words, even Obi's own document does not literally say: ZERO LIABILITIES. Also note the word ESTIMATED before the word LIABILITIES.

2015 : ENTER WILLIE OBIANO .Barely a year later, the story exploded. Obiano's government said Obi's presentation was a “half-truth.”

Why? Because, it argued, Obi was talking loudly about the ASSET side of the balance sheet while Nigerians weren't hearing enough about the LIABILITY side.

The Obiano administration put total[b] inherited project commitments[/b] at approximately ₦185.1 billion.

Obi rejected this. And he had an important argument. If I award a ₦10 billion road and the contractor has executed ₦4 billion worth of work and has been fully paid for that work, you cannot simply call the unexecuted ₦6 billion “debt.”

A CONTRACT VALUE IS NOT AUTOMATICALLY A PAYABLE DEBT. I disagree, but for the purpose of argument let's even conceed.

But notice what had happened. The governor - Obi's own hand picked succesor- who actually received Obi's handover was disputing Obi's characterization of what he handed over.

2017: SAME ARGUMENT, LOUDER VOLUME. By the 2017 Anambra election, the disagreement had become political warfare.

Victor Umeh- YES- you read right- the same , now Senator Victor umeh in 2017, again accused Obi of leaving massive obligations.

Obi fought back with bank statements. He identified balances across Fidelity, Diamond, First Bank, Access, UBA, Zenith and other banks. He challenged his biggest contractors and suppliers to identify one properly executed and certified job for which he owed them money.

Again, notice Obi's language. Not: ANAMBRA HAD NO FINANCIAL OBLIGATIONS WHATSOEVER. Rather, increasingly: I DID NOT OWE CONTRACTORS FOR WORK DULY EXECUTED AND CERTIFIED.

Here, Obi appears to be clever by half. The contracts had already been awarded, creating contractual commitments, while completed and certified work could create accounts payable and therefore liabilities.

The real question is not merely what had been certified for immediate payment, but what obligations Anambra had already incurred and which of them accounting standards required to be recognised or disclosed.

Those obligations cannot simply disappear from the liability conversation because the next certificate had not yet arrived.

And throughout this argument sat the inconvenient federal record: DMO had already recorded formal domestic and external Anambra debt while Obi was governor.

2026: ENTER CHARLES SOLUDO

Twelve years after Obi left office, another successor administration is challenging his financial legacy.

Soludo's government says eight external facilities contracted during Obi's tenure originally totalled $123.77 million and that balances from those facilities remain under repayment.

It also alleges inherited salary, gratuity and pension obligations. And suddenly the old argument has returned:

OBI: I LEFT ASSETS AND NO UNPAID DUE OBLIGATIONS. SUCCESSOR GOVERNMENT: YOU ARE TALKING ABOUT ASSETS WITHOUT TELLING THE COMPLETE LIABILITY STORY.

Does that sound familiar? It should. Obiano was making essentially that complaint eleven years ago.

TWO SUCCESSORS. SAME PREDECESSOR. SAME ARGUMENT. If one successor disputes your financial inheritance, politics is a plausible explanation.

When the governor who directly succeeded you disputes it, and twelve years later another administration raises related questions, while independent DMO records confirm that formal debt existed THREE MONTHS near your exit, the reasonable conclusion is almost obvious.
And herein lies CharlesCNG main grouse with peter Obi and the obidient's movement. The same Pattern repeats with almost everyone and every thing: Abuse and accuse instead of addressing issues.

Perhaps the most remarkable thing about Peter Obi's celebrated Anambra financial record is that, twelve years later, Nigerians still need political interpreters to explain what should be ordinary arithmetic.

Honestly , this obi matter don tire me!! The matter don tire calculator sef!!!

Next :DOES PETER OBI UNDERSTAND THE MEANING OF THE WORD “DEBT”? Stay tuned with CharlesCNG.

Noted. Can we also see Tinubu’s handover note, specifically, the debt he left behind and the money left in the coffers when he handed over to Fashola?

ekineme:
How many topics have you created now on Peter Obi. We have 36 Governors, this is 12 years now, How many can make same claim? It shows PO is a man of integrity.

He set a standard, and because his successors can't match up to his integrity is not his fault.

Because your Giringori keeps lying and using same set of lies to campaign .

GEJ is the only reason your Giringori did not face the law for all his accumulated corruption when in office.

Ofunaofu:
Noted. Can we also see Tinubu’s handover note, specifically, the debt he left behind and the money left in the coffers when he handed over to Fashola?

Typical whataboutism

FSBoperator:
Typical whataboutism

Typical whataboutism is actually you dodging my question. I’m asking for Tinubu's handover figures: the debt and the cash left in the coffers. If you or the OP have the records, let’s see them. Otherwise, calling it whataboutism doesn’t answer the question

Ofunaofu:
Typical whataboutism is actually you dodging my question. I’m asking for Tinubu's handover figures: the debt and the cash left in the coffers. If you or the OP have the records, let’s see them. Otherwise, calling it whataboutism doesn’t answer the question

Is that what this thread is discussing ?

You are deflecting from your crook Obi to Tinubu .

Defend your crook and stop the whataboutism.

Or will Tinubu's handover note which is not and has never been an issue helping in exonerating your crooked thief Obi from being exposed as a liar and a thief ?

FSBoperator:
Is that what this thread is discussing ?

You are deflecting from your crook Obi to Tinubu .

Defend your crook and stop the whataboutism.

Or will Tinubu's handover note which is not and has never been an issue helping in exonerating your crooked thief Obi from being exposed as a liar and a thief ?

The irony of a Tinubu supporter calling Peter Obi a crook and thief is almost too rich

You all have been working so hard to drag Obi into the same crook/corrupt/thief/ drug bárón/fórgér bracket as Tinubu,

One of the signs that our nation has lost its moral compass is what we're seeing.
In 2007, Yaradua released his asset declaration form. It was the first of its kind in the annals of our political history and elevated the moral standard of the nation's highest office. It was commended by all and sundry and was seen as a major step towards accountability in our public life. Of course, his VP Jonathan also followed same path. However, his cabinet members and members of the national assembly refused to toe this honourable part neither did the state governors. Nevertheless, it was expected that in a few years down the line, such practice would have become the norm in our national life that even LG chairmen will paste their asset forms on the notice boards of their LG offices.
But alas! 16 years down the line, that momentous action has been thrown into the dustbin of history. While Jonathan who succeeded Yaradua did not really need to publicly declare his assets since he already did so as VP. Buhari who campaigned on anti-corruption and promised to follow that template as well as enforce it on his cabinet only obliged the public grudgingly and half-heartedly after famously saying "I don't care" when pressed on fulfilling his promise. By the time Tinubu came into office in 2023, the baggage he carried were too heavy for anyone to even remember any such thing. His past was still a subject of serious controversy that public declaration of assets was simply a non-statter.
I recall all these because it seems that Obi has made a mistake in the area of public accountability by publishing the state of finances at his departure. What he should have been hailed for and held up as an example for other governors has now turned to an albatross on his neck. Note that no one is debating what he left as assets for the state. Instead, the argument is what he didn't leave and what he left as debts. In other words, no one is asking for accountability of how the assets he left behind have been managed. Rather, he's been dragged on the amount of debt he left behind (if any) while his successors are going about mismanaging the assets he left behind. Obiano who succeeded him couldn't muster the courage to make public the state of accounts as he was leaving office. Instead his preoccupation was how to hop on the next flight to the US before the law caught up with him.
In the larger view, imagine if since 2014 when Obi became the first governor to publicly render the state of his account while leaving office, it has become a norm for all governors to do the same. Imagine the level of accountability that would have brought into our system. The hollow shouts to hold your governor accountable would not have been needed!
Imagine if since 2007, it has become a norm for the president and other political office holders to publicly declare their assets. Imagine how much sanity it would have brought to the system. I can bet some rogues that have occupied important government offices since then would have simply stayed away!
The important lesson to learn here is that in a nation comprised mainly of rogues, the one who tries to stand upright becomes a target of vitriol and hate.

Ofunaofu:
Noted. Can we also see Tinubu’s handover note, specifically, the debt he left behind and the money left in the coffers when he handed over to Fashola?

Are you people not tired of deflecting? What has Tinubu's handover to Fashola got to do with a challenge PETER OBI HIMSELF voluntarily threw at Soludo's government?

Obi said Anambra owed no salaries, pensions or gratuities; owed no contractor for duly executed and certified work; claimed ₦2.13bn ecological funds remained intact in a specific First Bank account; then declared: “If anybody can establish anything to the contrary, I will stop campaigning.”

Nobody forced him to say that. Anambra State has now responded with a document titled:

“GOV PETER OBI AND RECORD OF PUBLIC DEBT IN ANAMBRA: FACTS BEYOND PROPAGANDA AND LIES.”

It disputes his debt narrative, lists external loan facilities associated with his tenure, alleges inherited salary/gratuity obligations, and directly challenges his account of the ₦2.13bn ecological fund.

Those claims must now be tested against the underlying records.

So why are you suddenly shouting, “What about Tinubu?” Tinubu didn't issue Obi's challenge. Fashola didn't issue Obi's challenge.

SOLUDO DIDN'T EVEN ISSUE OBI'S CHALLENGE. Peter Obi did.

If you want Tinubu's Lagos handover investigated, bring the records and investigate it separately. I have no objection.

But right now, Peter Obi threw down the gauntlet. Anambra picked it up. Let Obi answer Anambra.

This sudden trip to Lagos is not a rebuttal. It is an escape route.

Peter obi is a package fraud by unfortunate Obidients

According to op, soludo inherited obi debt. How come Obiano did not service the debt for 8 years. How come Obiano did not pay pensions and gratuity. Soludo is acting like Obiano 8 years never existed. Also he claim Anambra debt is 157 billion. But dmo doesn't show Anambra having such debr. When soludo was bragging about not browsing or taking loans he claimed he met little debts. So how come suddenly there is debt of 157 billion

nedu666:
According to op, soludo inherited obi debt. How come Obiano did not service the debt for 8 years. How come Obiano did not pay pensions and gratuity. Soludo is acting like Obiano 8 years never existed. Also he claim Anambra debt is 157 billion. But dmo doesn't show Anambra having such debr. When soludo was bragging about not browsing or taking loans he claimed he met little debts. So how come suddenly there is debt of 157 billion

Is there any where it is stated that Obiano did not service those obi debts?

Most of these international borrowed loans run for decades .

Did Obiano not say he met a treasury and debt profile opposite of what Giringori claimed in his handover note ?