Anambra’s FAAC allocations being deducted monthly to service Peter Obi’s $123m loans — Commissioner

The Anambra State Government has disclosed that monthly deductions are being made from the state’s Federation Account Allocation Committee revenue to service loans it says were contracted by former Governor Peter Obi’s administration — directly contradicting Obi’s public claim that he left no financial liabilities upon handing over power in 2014.

According to Vanguard, Commissioner for Information and Value Reorientation Law Mefor made the disclosure on Friday during an appearance on Arise Television’s The Morning Show, amid the intensifying public dispute over Obi’s financial record as Anambra governor.

“First and foremost, a loan is a loan, and whether it is sovereign or not, even an interest-free loan is still a loan. The FAAC allocations to Anambra State are being deducted every month to service the separate loans taken by the Peter Obi administration,” Mefor said.

The commissioner put the external facilities attributed to Obi’s tenure at $123 million across eight loans guaranteed by the Federal Government, with the outstanding balance standing at approximately N127.4 billion as of June 30, 2026, according to Debt Management Office records.

Mefor dismissed Obi’s argument that Federal Government guarantees transformed the loans into grants, saying states had the option to accept or decline such facilities.

“So Obi had the opportunity to either take or not to take. So if you take, you take the responsibility,” he said, adding: “The point I’m trying to make is simple: he took loans, and he said he didn’t take.”

Obi had earlier challenged Anambra to produce contradicting evidence, vowing to quit his 2027 presidential campaign if proven wrong.