Peter Obi has reacted to Anambra State Governor Chukwuma Soludo’s claim that he left $123 million in debt when he handed over as governor of the state.
Obi argued that money approved as a loan should not automatically be regarded as debt if it was not actually drawn or spent.
“Even if I had gone to the bank to borrow money but I didn’t spend the money, you cannot call it a debt I left,” he said.
He explained further, “Assuming I had gone to the bank and said, ‘Bank A, borrow me 10 billion,’ and they gave me a loan of 10 billion naira, I only drew down 500 million. You cannot say I’m owing 10 billion, because you know the amount.”
“That’s why I said it is not proper public sector accounting. That’s why I showed the layers,” Obi added.
He also recalled the then Director-General of the Debt Management Office, Abraham Nwankwo, saying he served for 10 years.
According to Obi, “The day he left office, for his send-forth party, he invited me as the chairman and he announced to everybody at that party that the reason why he made me chairman is because I was the only governor in Nigeria who never came to his office for approval to borrow money.”
About The Author
More Stories
Peter Obi Is A Trader And The Logic Of A Trader Is Short-Term Turnover. He Has Not Offered Any Alternative — Adams Oshiomhole
Moment Thugs Att@ck NDC Presidential Candidate, Peter Obi’s Convoy In Calabar
National Assembly Proposes 74 Extra Seats For Women In Senate And House Of Reps, Three Seats In Every State Assembly