Oshiomhole Questions Peter Obi’s $150 Million Savings As Anambra Governor

Senator Adams Oshiomhole, who represents Edo North in the National Assembly, has questioned how former Anambra State Governor Peter Obi allegedly saved $150 million while in office, raising concerns about the source of the funds.

According to Bush Radio Academy, Oshiomhole made the remarks during an interview with Symfoni TV, published on Thursday, while discussing Obi’s financial record as governor.

The former Edo State governor recalled serving alongside Obi on the National Economic Council, which was chaired by the Vice President. He claimed that during their time on the council, some governors advocated receiving their state allocations in dollars because of the difference between the official exchange rate and the parallel market rate.

Oshiomhole said the Federal Government rejected the proposal, maintaining that the naira remained Nigeria’s official currency. He subsequently questioned how Obi could have accumulated substantial dollar savings if allocations from the Federal Government were paid in naira.

“Where did you get dollars to save? Did you receive naira from Abuja and go to bid for dollars to save for Anambra State?” Oshiomhole asked.

The senator also challenged Obi’s claim that he did not borrow money during his tenure as governor, arguing that financing obtained through World Bank facilities could still constitute loans, even where repayment was deferred.

Oshiomhole explained that he accessed World Bank facilities, including budget-support arrangements, while serving as governor of Edo State. He maintained that a repayment moratorium does not necessarily mean the funds are not loans, since the financial obligations remain recorded and must eventually be settled.

He argued that such arrangements could allow an outgoing governor to leave office before repayment becomes due, transferring the responsibility to a successor administration.

“If you are not paying it immediately, it’s not a loan? It’s in the books, and a future government will necessarily pay it anyway,” Oshiomhole said.

The senator further suggested that his position reflected the point Anambra State Governor Chukwuma Soludo was attempting to make in discussions about Obi’s financial record.

Oshiomhole’s comments have brought renewed attention to questions surrounding Obi’s reported dollar savings and borrowing history during his time in office. However, the senator’s remarks represent his own questions and interpretation of the financial arrangements, and the allegations do not by themselves establish any wrongdoing by the former Anambra governor.