Peter Obi clearly states he never borrowed money from banks or issued bonds during his eight years as governor of Anambra State.
Mr. Peter Obi, has come out to clearly deny claims that he took bank loans to run the state when he was in office. The former state leader stated firmly that throughout his 8 years as the head of Anambra State, he never walked into any bank to take money or issue any government debt papers.
His statement comes after serious disagreement broke out between him and the current government of Anambra State led by Governor Chukwuma Soludo over claims concerning unpaid debts and government funds.
Speaking during a live television program on Arise Television’s Prime Time on Thursday night, September 24, 2026, Peter Obi addressed citizens across the country to clear the air about how he handled state money.
The political leader explained that his administration was very careful with public money and managed all state affairs without running to commercial banks to collect heavy loans.
He noted that when he completed his tenure as governor in March 2014, his government was not owing any worker or contractor who finished their work properly.
Addressing the public directly on television to clear all doubts about his record, Peter Obi said, “Let me categorically say again, I, Mr Peter Obi, didn’t approach any financial institution to borrow money or issue bonds on behalf of Anambra State in the eight years I was in government”.
Explaining further that his government cleared all regular payments before handing over to the next administration, he stated, “On the day I left office, the government of Anambra State, which I headed, was not owing any salary, gratuity, or pension to those scheduled to be paid by the state government. We were not owing any contractor or supplier who executed his job, certified and verified, not one“.
Responding to reports about international development funds linked to education projects in the state, Peter Obi added, “There’s a difference between I went to the bank to borrow money, then the Federal Government sees, ‘Oh, this state is doing well in education.’ They selected Anambra, Ekiti, and Bauchi and said, ‘These three states are doing well. Why don’t we give them a concessionary multilateral support to help them?'”
The whole disagreement started after official papers released by the current Anambra State government claimed that several external development funds totaling millions of dollars were linked to projects started during Peter Obi’s period as governor.
However, Peter Obi rejected these claims, explaining that multi-year development support from international bodies like the World Bank is very different from standard commercial bank loans that governors take.
He added that the official head of the Debt Management Office in Abuja previously commended him publicly as the only governor who never came to request permission for bank loans throughout a 10 year period.
Jennifer Baba is a journalist, international news correspondent, and writer at Moderncrux, where she covers artificial intelligence, fintech, emerging technologies, global politics, and international affairs. Based in Nigeria, she is passionate about transforming complex global developments into clear, engaging stories that inform and inspire readers.
