We’re still repaying loans incurred by Peter Obi, others – Anambra govt
The latest claim was coming despite Mr Obi's repeated position that, while exiting office as governor, he left for the state a total of $50 million each in Access, defunct Diamond and Fidelity banks - totalling $150 million - with an interest rate of at least 6.5 per cent. The post We’re still repaying loans incurred by Peter Obi, others – Anambra govt appeared first on Premium Times Nigeria .
The Anambra State Government revealed on Monday that the current administration, led by Governor Chukwuma Soludo, is still paying off loans and other debts acquired by prior administrations, including those of former governors Peter Obi and Willie Obiano. Finance Commissioner Izuchukwu Okafor shared these details during a Ndi Anambra podcast.
Okafor stated that the Soludo government has not borrowed from any commercial bank since taking office, but has continued to service the debts inherited from previous governments. He explained that monthly deductions from the state's Federation Account Allocation Committee funds are made to service loans taken out by previous administrations, with some of these loans originating during the terms of Obi and Obiano.
Despite this, Okafor reported that the Soludo administration has significantly reduced the state's debt burden, repaying most of the inherited loans and clearing numerous legacy debts such as unpaid contracts, gratuity arrears, and pension arrears. As a result, the state's domestic debt is now near-zero. Okafor also mentioned that the administration has recently paid off one debt, CAGS, contributing to more fiscal space for Anambra State.
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