Anambra Government and Peter Obi Clash Over Inherited Debts, External Liabilities, and ₦2.13bn Ecological Fund

A fierce public finance dispute has erupted between the Anambra State Government and former Governor Peter Obi, centering on legacy debts, multi-billion-naira savings claims, and the destination of specific intervention funds from the handover in 2014.

The latest sparring began when the state government detailed financial obligations allegedly inherited from past administrations. Responding via official statements, Law Mefor, the Anambra State Commissioner for Information and Value Reorientation, stated that eight external loans incurred under Obi's administration remained active, with the outstanding balance reaching ₦127.4 billion at official exchange rates as of June 30, 2026. The state administration also pushed back against Obi's long-standing assertion that his government left behind over ₦75 billion in cash and investments, questioning the documentation behind the figures.

The crossfire intensified around a disputed ₦2.13 billion ecological fund. Obi had previously maintained that the federal government released the funds shortly before his tenure ended to combat the Oko/Umuchiana erosion crisis. According to the former governor, he resisted internal pressure to deploy the funds, choosing instead to leave them intact in a First Bank branch at Nnamdi Azikiwe University so the incoming administration could execute the earmarked project. Challenging critics, Obi went as far as stating he would halt his political campaigns if anyone proved the money was mismanaged or nonexistent.

In a sharp counter-move, Commissioner Mefor released findings from a certified bank printout of the specific account cited by Obi (First Bank account number 2018779464). According to the state government, records reveal that the repository is an Internally Generated Revenue (IGR) Consolidated Revenue Account rather than an ecological fund pool, with no transaction history showing an influx or balance matching the claimed ₦2.13 billion.

Furthermore, the state disputed Obi's claims of leaving zero arrears, citing legacy salary and pension backlogs, including primary school teacher and Water Corporation arrears, some of which the current administration states it has had to clear.

Financial Clash at a Glance

Reported External Exposure: State officials put inherited external loan obligations at ₦127.4 billion equivalent as of mid-2026.

The Ecological Fund Dispute: Obi maintains a ₦2.13bn balance was preserved untouched in First Bank for erosion projects; Anambra State counters that certified bank printouts classify the account as an IGR consolidated account with no such balance history.

Legacy Arrears Debate: State government highlights outstanding teacher and water corporation salary/gratuity burdens, contrasting with Obi's zero-debt handover assertion.