Anambra Government Says It Repays Loans From Obi, Obiano Eras

The Anambra State Government has stated it is still servicing loans and financial obligations inherited from previous administrations, including those of former governors Peter Obi and Willie Obiano. Commissioner for Finance Izuchukwu Okafor disclosed this during a Ndi Anambra podcast, asserting that Governor Charles Soludo's administration has not borrowed from any commercial bank since taking office. Okafor explained that monthly Federation Account Allocation Committee (FAAC) funds are subject to significant deductions to service these inherited loans. "Every month during our FAC meetings, and when you see the schedule of FAC, you will notice there were substantial, significant deductions from our own FAC because of loans previously borrowed by previous administrations," he said. The commissioner specifically attributed some of the loans to the tenures of Obi and Obiano. He claimed the Soludo administration has reduced the state's overall debt by more than 83 percent and brought domestic debt to a near-zero balance by clearing legacy obligations, including unpaid contracts, gratuity arrears, and pension arrears.