The Anambra State Government has accused former governor Peter Obi of concealing more than $123.7 million in loans and leaving behind salary, pension and gratuity arrears, as the war of words over the state’s financial position under his administration escalates.

The Commissioner for Information and Value Reorientation, Law Mefor, made the allegations in a statement on Saturday titled “Peter Obi’s Debts and Lies: More Questions Than Answers,” issued in response to Obi’s recent interview on Arise TV.

Mefor said Obi’s administration signed eight IDA/World Bank loan agreements worth $123,771,179.30 during his eight-year tenure, insisting that the facilities were recorded with the Debt Management Office.

According to him, the outstanding balance on the loans stood at $92.35 million, or about ₦127.37 billion, as of June 30, 2026, with successive administrations continuing to service the obligations through deductions from federal allocations.

The commissioner dismissed Obi’s argument that he did not personally “go to the World Bank or DMO” to borrow the money, saying the relevant issue was that the state government signed the loan agreements.

Mefor said Obi’s position had also shifted from an earlier claim that he left Anambra without any debt to an argument that whatever liabilities existed were outweighed by the assets and funds he left behind.

He accused the former governor of failing to disclose the liabilities in his handover documents.

“Every accounting balance sheet has sections on Assets and Liabilities,” Mefor said, arguing that the value of assets left behind could not erase the obligation to disclose outstanding liabilities.

700 water corporation workers allegedly owed

The state government also accused Obi of leaving salary, pension and gratuity arrears owed to hundreds of workers.

Mefor said more than 700 workers of the Anambra State Water Corporation were affected, citing a 2009 arbitration process and a 2019 National Industrial Court judgment as evidence that the state government had obligations to the workers.

According to him, the Soludo administration subsequently entered an out-of-court settlement on February 26, 2024, involving ₦1.563 billion, of which ₦1.199 billion had already been paid.

He said the remaining tranche would also be paid.

The commissioner further alleged that 11 months of pension arrears owed to primary school teachers remained outstanding.

He said the arrears originated from an obligation inherited from former governor Chinwoke Mbadinuju, adding that Obi’s administration had paid five of the 16 months certified as owing but left the remaining 11 months unpaid.

‘Obi saved money while liabilities accumulated’

Mefor also challenged Obi’s argument that he left about $150 million in savings and investments, saying the existence of savings did not mean liabilities could be ignored.

He accused the former governor of presenting the funds as evidence that Anambra was financially healthy while failing to adequately account for outstanding obligations.

The commissioner said the state government had identified 101 road contracts covering 779 kilometres, with outstanding liabilities put at about ₦127 billion at the time Obi left office.

He argued that such obligations should have been reflected in the handover documents alongside the assets and investments claimed by the former governor.

Mefor also criticised what he described as Obi’s emphasis on saving public funds and earning interest while Anambra faced infrastructure, healthcare, education, erosion and other development challenges.

The commissioner said government should prioritise the welfare and security of citizens rather than simply accumulating money in banks.

‘Obi challenged us to prove he left debts’

Mefor said the Soludo administration did not initiate the controversy, arguing that Obi himself had challenged the government and others to prove that he left behind any debt, salary arrears or other liabilities.

He said the state government was therefore responding to the former governor’s challenge with what it described as documentary evidence.

Obi has continued to reject the allegations, maintaining that he did not borrow or issue bonds for Anambra and that he left the state with sufficient resources and investments.

The former governor has also argued that money he saved and invested while in office was enough to cover any liabilities inherited by his successor.