FAAC Deductions: Anambra Govt Says Peter Obi Left 123 Million Dollars Debt Still Being Serviced

The Anambra State Government has insisted that the state is still paying back loans secured during the administration of former Governor Peter Obi through deductions from its monthly FAAC allocation.

The Commissioner for Information and Value Reorientation, Law Mefor, disclosed this on Friday, September 18, 2026, while speaking on Arise TV Morning Show.

Mefor said the state government has evidence that eight external loans guaranteed by the Federal Government were taken during Obi’s time as governor, and repayment is ongoing.

He said the Federal Government guarantee does not mean the money was free. He noted that even interest-free loans must be repaid.

He said Anambra’s share from the Federation Account is being deducted every month to service the loans.

According to him, states are not forced to take the World Bank and other development loans. He said it is a choice. He gave an example that Governor Chukwuma Soludo recently declined to take part in the Nigeria CARES loan programme.

Mefor put the total value of the loans taken under Obi at 123 million dollars. He said the outstanding debt stock stands at about 127.4 billion naira as of June 30, 2026, based on Debt Management Office records.

He said the debate is about Obi’s claim that he never borrowed. He said records show borrowing happened.

Mefor also faulted Obi’s statement that he left no liabilities behind for his successor. He said liabilities from those loans were passed on.

The reaction follows Peter Obi’s insistence that he left Anambra with no debt, with salaries, pensions and contractor payments fully settled when he handed over in 2014.

Obi had dared the Anambra Government to prove he left debt and said he would quit the 2027 presidential race if proven otherwise.

The Anambra Government maintains that the DMO data proves its position.