Obi Defends $150m, N36bn Savings Claim, Says Funds Were Legitimately Invested

Former Anambra State Governor and Nigeria Democratic Congress presidential candidate, Peter Obi, has defended his long-standing claim that he left office in 2014 with about $150 million and N36 billion in state savings, insisting the funds were legitimately invested and remained fully traceable.

Speaking during an interview with media entrepreneur Chude Jideonwo , Obi dismissed allegations that he personally benefited from the state’s funds, maintaining that all the investments were transparent and open to independent verification.

Addressing claims that the funds were deposited in banks with which he allegedly had affiliations, Obi said such criticisms were expected but insisted the financial records speak for themselves.

“Whatever you do, people have their views,” he said.

Obi explained that, at the time he left office, Anambra State had $50 million and N12 billion invested in each of three commercial banks—Diamond Bank, Fidelity Bank and Access Bank.

“We had, for example, when I left, I had 50 million dollars in Diamond Bank… Same bank. Does Anambra State have the money? Anambra State savings… 50 million dollars in Fidelity Bank, which is supposed to be the bank I’m involved in… 50 million dollars in Access Bank,” he said.

According to him, the dollar deposits were invested in bonds at prevailing market rates, adding that no losses were incurred by the state.

“Go to those banks. Let me start with the dollar. There are bonds; the rates are as issued. Everybody knows the rates. Go to them and see if there’s anyone who has been shortchanged,” Obi stated.

The former governor also challenged his critics to identify any Nigerian state where a governor left office with comparable savings.

“Today, who else has saved? Show me any other sub-national state in this country where a governor has left with savings. One. And I’ll stop running,” he said.

Obi has repeatedly cited the savings as evidence of prudent financial management during his administration between 2006 and 2014. While some former banking executives, including Abia State Governor Alex Otti, have backed his claims, his successor, Willie Obiano, and other critics have argued that the state also inherited significant liabilities, including unpaid contractor debts, questioning whether the reported savings reflected Anambra’s true financial position.