Peter Obi Denies Soludo Government’s Debt Claims, Demands Answers on ₦2.14bn Ecological Fund

By Olisemeka Sony

Former Anambra State Governor Peter Obi has pushed back against claims linking his administration to the state’s debt burden, demanding answers over the whereabouts of a ₦2.14 billion ecological fund his camp says was still intact when he left office in 2014.

The fresh dispute has reopened the politically sensitive debate over Anambra State’s finances and what Obi left behind when he handed over power to his successor, Willie Obiano, in March 2014.

Obi’s media aide, Valentine Obienyem, dismissed claims that the former governor’s administration borrowed and spent ₦2 billion from ecological funds.

“We reiterate that Anambra State under Obi did not borrow and spend any such money,” Obienyem said.

According to him, the money in question was not a loan, but an allocation from the ecological fund granted to Anambra State for the control of erosion in Ekwulobia.

Obienyem further claimed that the funds remained in the state’s account when Obi left office.

In an attempt to substantiate the claim, he released details of an account which he said contained ₦2,139,951,400 as of March 17, 2014.

Account Name: Ecological Funds / IGR Consolidated Account
Bank: First Bank of Nigeria
Account Number: 2018779464
Balance: ₦2,139,951,400.00

Obienyem challenged the authorities to explain what happened to the money if it was no longer available.

“If Prof. Soludo or anyone else has misappropriated the money, they should please let us know,” he said.

Soludo’s Position on Anambra’s Finances

The controversy comes against the backdrop of Governor Chukwuma Soludo’s longstanding criticism of the financial position inherited by his administration.

After taking office in 2022, Soludo said his administration inherited more than ₦100 billion in debt and limited cash resources.

However, it is important to distinguish that broad debt claim from the specific ₦2.14 billion ecological-fund allegation now being challenged by Obi’s camp.

Obienyem’s statement does not simply deny that Anambra had any financial obligations. Rather, it disputes the claim that the Obi administration borrowed and spent the specific ecological funds referenced in the current controversy.

The argument from Obi’s camp is that the money was an earmarked ecological intervention fund and, according to the account details released by Obienyem, remained in the state’s account at the point of handover.

Where Did the ₦2.14bn Go?

The latest statement has consequently shifted the focus from the broader political argument over Anambra’s debt to a more specific question: What was the status of the ₦2.139 billion ecological fund after the March 2014 handover?

Obi’s camp wants the relevant authorities to account for the fund and explain its subsequent utilisation.

The allegation remains disputed, and the account details released by Obienyem would need to be independently verified against official banking, government and audit records to establish the complete financial trail.

For now, the exchange represents another chapter in the long-running political battle over Anambra’s finances, with Obi’s camp demanding accountability over the ecological fund while the Soludo administration has continued to highlight the financial obligations it says it inherited.

The debate is therefore unlikely to end with competing political statements. The decisive evidence would be the official financial records showing the origin, balance, utilisation and eventual disposition of the ₦2.14 billion fund.

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