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Ndi Anambra Ask Obiano To Account For $156m Saved By Peter Obi

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Anambra People asked incumbent Governor Willie Obiano to account for the $156m million saved by the immediate past governor of the state, Peter Obi.

People and residents of Anambra State have asked the incumbent governor of the state, Chief Willie Obiano to account for the $156 million saved by the immediate past governor of the state, Mr Peter Obi.

In a memo made available to Elombah.com, they detailed the sum, where and how they were saved and said that the state felt no impact of the funds.

The memo lamented that “the Governor of Anambra State, Chief Willie Obiano has disposed the dollars saved for Anambra State by his predecessor, Mr. Peter Obi.

“He started selling these dollars as soon as he became the Governor and has been selling them at intervals thereafter culminating in the last transaction over which 10 Billion Naira was realized.”

The memo, among other things, claimed that there is high suspicion that Obiano sold the said funds to himself considering the questionable circumstances of the transaction.


From available statistics, the present Anambra State Government had between 17th March 2014 and 31st October 2017; a period of 43 months, inherited and received a total of not less than N420 billion cash. 

The Obiano Administration also inherited a paltry debt of N12.2 billion made up of foreign debt of $45M or N9B using then official exchange rate of N195 per $ and local debt of N3.2 billion. [See DMO Report of 30th June 2015].

In a recent video chat with Elombah.com, Peter said that no contractor in Anambra State was owed a dime as at 17th March 2014 for public projects executed and certified completed by relevant supervising government agencies in Anambra State. 

READ ALSO: The Demystification Of Governor Willie Obiano By Peter Obi [1 & 2]

Contractors handling ongoing projects as at 17th March 2014 especially road projects were paid according to levels of completion of their projects including mobilization, quarter and half levels’ completion.

Furthermore, Elombah.com gathered that the transactions involving the sales of the dollars was carried out following a letter by Anambra State Investment Promotion and Protection Agency [ANSIPPA] dated March 17th, 2017 with the reference no ANSIPPA/MD/CEO/028/12A .

The letter was signed by the Chief Executive Officer, Mr. Joe-billy Ekwunife.

Mr Ekwunife, therein, directed Afrinvest, the firm Obiano appointed to manage the savings to execute a partial sale of the Eurobond Portfolio domiciled with Fidelity Bank Plc and Access bank plc to raise the sum of N3.7 Billion and N6.3 Billion respectively.

Acting as instructed, Afrinvest  executed the deal over the counter as requested by Obiano.

Recently, the Board Chairman of the International Society for Civil Liberties & the Rule of Law [Intersociety], Mr Emeka Umeagbalasi, gave a breakdown of the huge sum that Obiano inherited, including the dollar portion.

He gave the breakdown as follows:

“Governor William Obiano inherited a total of N75.1 billion cash made up of N48.6 billion local cash deposits in 12 local banks and N26.5 billion or $156M dollar deposits in three banks (Fidelity, Diamond and Access). 

“The cash of N48.6 billion inherited from former Obi Administration as at 17th March 2014 was deposited in 12 banks as follows: 

(1) Access Bank N1.82 billion, 

(2) Diamond Bank N15.8 billion

(3) Enterprises Bank N2.68 billion

(4) First Bank N2.15 billion 

(5) Fidelity Bank N21 billion

(6) First City Monument Bank N892 billion

(7) Keystone Bank N1.14 billion

(8) Skye Bank N172 billion

(9) Sterling Bank N606 billion 

(10) United Bank for Africa N1.31 billion 

(11) Unity Bank N309 billion and,

(12) Zenith Bank N642 billion

“Totaling N48.62 billion.”

The Dollars Were Reportedly Sold At 310 Naira

Per Dollar When Dollar Was Trading At

Over 400 Naira, 415 Naira Precisely

According to a source close to Anambra State government, the savings had yielded billion of Naira, as revealed by the Managers, prior to their sale.

Elombah.com gathered that the bonds in Fidelity Bank  that were disposed in the following sequence:

6.75% 28 January 2021 FGN Bond with facevalue of $30,000; 

6.38% 12 July 2023 FGN bond with facevalue of $50,000 in Fidelity Bank

10.5% 19 October 2021 Access Bank with facevalue of $21,000 and,

8% 23 July 2021 FBN bond with facevalue of $14,000 [FBN bond was sold in two tranches of $9,000 and $5,000].

Anambra People asked incumbent Governor Willie Obiano to account for the $156m million saved by the immediate past governor of the state, Peter Obi.
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The bonds in Access bank that were also disposed were $70,825 of the 9.0% 26 March 2018 Seatruck and $147,000 of 9.25% 24th June 2021, Access Bank.

It was the media aide to former Gov. Obi, Mr. Valentine Obienyem who first alerted Elombah.com that Obiano sold the dollars at N314, when the dollar was N415. 

He further revealed that  Obiano’s insistence on under-selling against all advice raised eyebrows that he had ulterior motives.

Evidently, Obiano had squandered the 156 million Dollars, including about 50 billion Naira in local currency  handed over to him by Peter Obi. 

Anambra citizens have, therefore, risen in consonance and stated that Obiano must account for the total sum handed over to him ahead of the November 18 governorship election, or else…


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