A crisis is brewing between Anambra State Governor Willy Obiano and opposition parties over the alleged secret sale of the state’s dollar savings in the last three and half years.

The governor, according to sources, has disposed of the cash saved for the state by his predecessor, Mr. Peter Obi. In the last transaction, over N10 billion was realized, according to one documents The Nation stumbled on.

The last transaction was carried out, following a letter of March 17, 2017 by the Anambra State Investment Promotion and Protection Agency.

In the letter of authority, its Chief Executive Officer Joe-Billy Ekwunife, directed Afrinvest, the firm appointed by Obiano to manage the savings to carry out the transaction.

The agency directed the firm to execute a partial sale of the Eurobond Portfolio domiciled with two commercial banks to raise N3.7 billion and N6.3 billion.

According to sources, the bonds in one commercial bank that were disposed, following the directive, included 6.75 per cent 28 January 2021 FGN bond with a face value of $30,000 and 6.38 per cent 12 July 2023 FGN bond with a face value of $50,00.

“There are also the 10.5 per cent 19 October bond with a face value of $21,000 and eight percent July 2021 FGN Bond with a face value of $14,000. The FBN bond was sold in two tranches of $9,000 and $5,000. Prior to their sale, the savings had yielded billions of Naira as revealed by the manager,” the source added.

Also, it was disclosed that each time the bonds were sold, the agency directed Afrinvest to credit the money realised into the Anambra State Special Excess Crude Account. It was not immediately clear yesterday if the special account is not under the purview the state’s Accountant-General.

It was learnt that the first sale of the dollars accounted for the disposal of 8.25 per cent of a first generation bank’s bonds from which about $10.2 million was realised. This amounted to about N3 billion, going by the exchange rate at the time. The bond, which was to mature in August 2020, had an annual coupon yield of 8. 25 per cent and it was purchased by another bank at a much discounted rate on December 18, 2015.

The sale was carried out “over the counter” away from public glare, it was alleged.

The agency’s chief executive, Ekwunife, declined to comment when his reaction was sought. He cut the phone when the allegation was mentioned to him.

Budget and Planning Commissioner Mark Okoye could not be reached for comments; he did not pick his phone.

Former Information Commissioner Chief Joe-Martin Uzodike said the disclosures were worrisome, lamenting that the governor had turned the state upside down.

He said: “If the foreign savings had been left intact, it would have increased to N200 billion. Obiano has come to kill the state and not to save it.”

The media aide to former Governor Obi, Valentine Obienyem, lamented that Obiono, a banker-turned governor, sold the last dollars at N314 when the dollar was sold for N415.

He added: “Governor Obiano insisted on under-selling – against all advice, fuelling suspicion that there were other considerations. The question is: who actually bought the dollars? The same person selling the dollar savings had about N50 billion in local currency handed over to him, which he squandered.

“Regrettably today, Anambra is owing over N60 billion in debts. It has the highest number of abandoned projects. In four years, the governor is yet to complete three kilometers of roads in any local government, except his town.”

Obiano and Obi have been quarrelling over the finances of the state. While the governor said he inherited a huge debt from Obi administration, Obi denied it, saying but he left over 80 billion in the state coffer.

Also, Obiano has alleged that his predecessor had demanded N50 billion from him as expenses for the election that brought him to power. Obi denied the allegation, recalling that Obiano had apologized for the falsehood in the past when he visited him in his home in company of a bishop.




http://thenationonlineng.net/revealed-obiano-govt-sold-anambras-dollar-savings/

Believe this sponsored thrash at your peril, Obi is ready to do anything in other to make himsef godfather of Anambra politics.

Well nothing concern.me concern anambra

Their headache not mine

#Nwa 042#

Propaganda! Sorry, Obiano has won the election already.

denice1:
Believe this sponsored thrash at your peril, Obi is ready to do anything in other to make himsef godfather of Anambra politics.

Obi released bank statements as proof of existence of such funds, let Obiano do the same.

Useless brown envelope journalism.

'According to documents stumbled upon'

....'Val. Obieyem said'... Val who is Peter Obi's media attack dog is the source The Nation is quoting.


No statement from the state ministry of finance

No statement from the bank or banks

No statement from the investing arm.


Such political thrashy write up belongs to the thrash can.

nwabobo:


Obi released bank statements as proof of existence of such funds, let Obiano do the same.

He released supposed bank details.

Where is the confirmation or otherwise from the bankers?

Where in the write did you see bank details or is the stumbled upon documents?

luvinhubby:


He released supposed bank details.

Where is the confirmation or otherwise from the bankers?

Where in the write did you see bank details or is the stumbled upon documents?

The bank MDs were all there on live TV and each confirmed said investments. Non has denied till date.

Dem de steal everywhere for Nigeria , but for east, they took it a notch higher; they steal to the admiration of their people who clap for their stealing leaders in amusement. E be like say dem de teach them stealing for classroom.

nwabobo:


The bank MDs were all there on live TV and each confirmed said investments. Non has denied till date.

Which of the bank MD was on which live tv?

Moreover, there is no confirmation from anybody that such has been liquidated.

Even if the said saving has been liquidated, it is still Anambra money, the question should be what were they used for?

luvinhubby:


Which of the bank MD was live on which live tv?

Moreover, tbere is no confirmation from anybody tgat such has been liquidated.

Even if they said saving has been liquidated, it is still Anambra money, tge question should be what were they used for?

Used to settle all the political thugs and godfathers now rooting for Obiano.

nwabobo:


Used to settle all the political thugs and godfathers now rooting for Obiano.

And your proof of that?

Na today

nwabobo:


Obi released bank statements as proof of existence of such funds, let Obiano do the same.

Can you show us the statements obi released since your privy to it. Peter obis time is up. This is a reality you must accept! Obiano has retired peter obi

nwabobo:


Used to settle all the political thugs and godfathers now rooting for Obiano.

It’s Anambra money for Anambra people not peter obis firm. Let peter obi the only man that wore one watch for 30 years show proof of this phantom savings before telling us it has been spent.

nwabobo:


The bank MDs were all there on live TV and each confirmed said investments. Non has denied till date.

So this is the proof, peter obi must have used most of you peoples brains for ritual. Smh

Caseless:
Dem de steal everywhere for Nigeria , but for east, they took it a notch higher; they steal to the admiration of their people who clap for their stealing leaders in amusement. E be like say dem de teach them stealing for classroom.

Patricia etteh, tafa balogun, bola tinubu, bode George, aregbeshola, etc all convicted felons but leaders in yorubaland

Lawyers in Anambra defending obiano you all are evil. May the suffering from anambrarians strike you all dead. Crazy elements

odogwubiafra:
Propaganda! Sorry, Obiano has won the election already.

only in Aguleri,probably his kindred

dasamek8:
Lawyers in Anambra defending obiano you all are evil. May the suffering from anambrarians strike you all dead. Crazy elements

Which Anambra people is suffering? No worker is owed a dime in salaries and pensions.

Your choice of words betrays your immaturity.

dasamek8:

only in Aguleri,probably his kindred

Is Aguleri not part of Anambra state?

no lefelendum no erection

For your information, before Obiano came to power, insecurity in Anambra was so bad that robbers were going to police stations one by one to rob them.

Our people, out of kidnapping fears, were giving out their children in marriage called Igba nkwu(traditional marriage) in towns like Lagos, Kano, Ibadan and Abuja. This is considered a cultural taboo as ndi Igbo anaro eke nwanyi na mba. But the level of insecurity was that bad, our people even stopped going home for Christmas out of fear for kidnappers and robbers.

If Obiano liquidated Anambra savings as the OP said, to give us ndi Anambra a safe and secured state by investing hugely in the police and local vigilantes and gave the people the courage to come and stay weeks and even bring home investments without fear, then we ndi Anambra is very okay with it.

luvinhubby:


Which Anambra people is suffering? No worker is owed a dime in salaries and pensions.

Your choice of words betrays your immaturity.

are u guys for real? That u are a beneficiary of a failed govt does not mean others can't see the vivid picture. It is only now that he is investing billions meant for state development into campaign sharing rice and other items to hungry citizens. Now he knows we are hungry. His dirty politics will kill him and bury Apga.

dasamek8:

are u guys for real? That u are a beneficiary of a failed govt does not mean others can't see the vivid picture. It is only now that he is investing billions meant for state development into campaign sharing rice and other items to hungry citizens. Now he knows we are hungry. His dirty politics will kill him and bury Apga.

Stop talking like the child you are, which part of the state is lagging behind in development in comparison to similar states in Nigeria?

The selfish interest of in becoming vice President will be his greatest undoing

dasamek8:

are u guys for real? That u are a beneficiary of a failed govt does not mean others can't see the vivid picture. It is only now that he is investing billions meant for state development into campaign sharing rice and other items to hungry citizens. Now he knows we are hungry. His dirty politics will kill him and bury Apga.

no wonder..of course you are INDEED HUNGRY...
a hungry man is an angry man....
so you believed the trash

Obi saved billions and the citizens of the state were paying hundreds of millions to kidnappers monthly as ransom out of insecurity, what an irony.

dasamek8:

are u guys for real? That u are a beneficiary of a failed govt does not mean others can't see the vivid picture. It is only now that he is investing billions meant for state development into campaign sharing rice and other items to hungry citizens. Now he knows we are hungry. His dirty politics will kill him and bury Apga.

Obiano is among the top 3 Governors in Nigeria,so what are u saying,no amount of propaganda from Apc mouth piece the nation would make Anambra make mistake of voting them,we don't need change in Anambra like in Kogi,Osun and Benue,Anambra is happy with APGA.

darkdude:


no wonder..of course you are INDEED HUNGRY...
a hungry man is an angry man....
so you believed the trash

I guess Obiano also stemmed the level of kidnapping in Abia state, Imo state and Enugu state.

nwabobo:


I guess Obiano also stemmed the level of kidnapping in Abia state, Imo state and Enugu state.

Anambra is today more secured than Abia, imo and Enugu state. The clown called peter obi said he secured Anambra by fencing onitsha barracks and buying cars for vigilante... I wonder how that man deceived ndi amabra to become governor.. Go the upper iweka and see how obiano restored sanity there

luvinhubby:


Stop talking like the child you are, which part of the state is lagging behind in development in comparison to similar states in Nigeria?

where in Anambra is developed? Can you define development? Is Awka a state capital? Any useable airport in Anambra? Can Apga be justified for moving Oba airport to aguleri? Any Project by Obiano at Nnewi? Finally are you reasonable?