The Anambra State Government has called on former Governor Peter Obi to tender an unreserved apology to the people of the state, following its claim that records from the Debt Management Office (DMO) show that his administration contracted eight loans from the International Development Association (IDA) of the World Bank.
The Commissioner for Information and Value Reorientation, Dr Law Mefor, made the demand in a statement addressing the ongoing controversy over the financial position inherited from the Obi administration.
Mefor said Obi had challenged anyone who could prove that his eight-year administration left debts behind, adding that the state government had now produced records showing that eight IDA-World Bank loans were contracted during his tenure.
According to him, the loans amounted to $123,771,179.30, with some of the funds allegedly disbursed before Obi left office but, the commissioner claimed, not reflected in the former governor’s handover notes.
Mefor said the loan records, including the dates and amounts involved, could be independently verified through the DMO in Abuja.
He said: “After we provided unassailable evidence in response to his challenge, he and his supporters have been hair-splitting, trying to blame us, the victim of his challenge, for bursting the bubble or inventing all manner of new accounting theories to explain that one can have a balance sheet and conceal the liabilities side — simply because the asset side is higher than the liabilities. That’s voodoo accounting!”
The commissioner further claimed that a comprehensive assessment of the state’s financial position showed that the Obi administration left behind what he described as “humongous net liabilities”, rather than net assets.
He said the DMO report as of June 30, 2026, put the outstanding balance on the eight loans at $92.35 million, equivalent to ₦127.37 billion.
According to Mefor, successive administrations, including the current government, have continued to service the obligations through monthly deductions from Anambra’s allocations under the Federation Account Allocation Committee (FAAC).
“We have provided the dates and the amounts that his administration signed the loans, and this can be verified from the Debt Management Office (DMO), Abuja,” the statement said.
Mefor also alleged that the Obi administration left behind unpaid salaries and pensions, although he did not provide a detailed breakdown of the alleged arrears.
The commissioner also questioned what he described as Obi’s emphasis on saving public funds and earning interest from bank deposits, rather than spending more on citizens’ welfare and safety.
‘Tender An Unreserved Apology’
Mefor said Obi and his supporters had continued to challenge the government’s interpretation of the financial records despite the state government’s response to the former governor’s earlier challenge.
He said the controversy had consequently become an issue of “word, character and integrity”.
“As a responsible government and committed to ethical governance and politics, we remain ready to provide information that advances public interest. For H.E. Peter Obi, it is a matter of word, character and integrity.
“Without any provocation, you threw a self-imposed challenge. Now that the facts challenge your character and integrity, you have no choice but to take the path of honour: tender an unreserved apology to the government and people of Anambra State and Nigeria and move on.
“You don’t continue digging when you are already at the bottom of the hole,” he said.
The commissioner added: “You cannot attack first and then end up as the victim at the same time. For us, it is only a matter of record. But since Mr Obi himself initiated this self-imposed challenge — daring anyone to prove that he left debts — it is only a matter of integrity and character that he owns up to the outcome.”
The Anambra Government also rejected Obi’s reported argument that he did not personally approach the World Bank or DMO to obtain the loans.
According to the state government, a governor does not have to physically approach either institution for a loan to become an obligation of the state.
“H.E. Peter Obi, you do not have to ‘go to a bank or DMO’ before your borrowing can be perfected. All that is required is for you to sign the loan agreements, and your government did,” it said.
The government maintained that state governments are not automatically compelled to obtain IDA-World Bank loans, arguing that a government must first express interest and execute the necessary loan agreements before accessing such facilities.
It consequently challenged Obi and his supporters to dispute the specific loan records with the DMO rather than continuing to contest the government’s interpretation of Anambra’s financial position.
The controversy is the latest in a series of public exchanges between the Anambra State Government and the former governor over the state’s finances and the legacy of his administration.
