Abia State Governor Alex Otti has reaffirmed his claim that former Anambra State Governor Peter Obi left about $155 million in foreign-currency investments for the state before leaving office.
Otti, who was the Chief Executive Officer of Diamond Bank at the time, said he was directly involved in the financial arrangement and could personally attest to the funds Obi left behind. His account of the transaction has also been publicly documented in earlier statements dating back to 2020 and 2022.
According to Otti, Obi initially intended to leave the funds in cash. However, he said he advised against keeping the money in naira and recommended converting it into dollars and investing it.
As a participant at that time, clearly, 2014, I would like to again state that Peter Obi actually left the money he said he left.
Otti said approximately $155 million was converted from naira and invested in Eurobonds and Tier-2 capital instruments of some Nigerian banks, with some of the investments having maturities extending beyond Obi’s tenure.
The governor’s comments come amid renewed debate over the financial position Peter Obi left behind when he handed over power in 2014. While Obi’s supporters have cited the dollar investments and other assets, subsequent administrations and political figures have raised questions about debts and liabilities attributed to the period.
Otti, however, said he could only speak from his own knowledge of the financial transaction and his involvement in it.
PETER OBI LEFT $155M FOR ANAMBRA” — ALEX OTTI REAFFIRMS, CHALLENGES CONTRARY CLAIMS
The $155 million figure refers to investments made on behalf of Anambra State, rather than simply cash sitting in a government account. The exact value of those investments at different points in time has been the subject of separate discussions.
Otti’s latest reaffirmation therefore adds his firsthand account to the continuing public debate over the financial legacy of Peter Obi’s administration in Anambra State.
