Soludo vs. Obi: Alex Otti’s First-Hand Testimony Counters Anambra Government Debt Claims
AWKA — A direct eyewitness account from Abia State Governor, Alex Otti, has taken center stage in the escalating dispute between the Governor Chukwuma Soludo-led Anambra State Government and Nigeria Democratic Congress presidential candidate, Peter Obi. Otti’s testimony directly challenges claims by the current Anambra administration regarding the financial legacy left by Obi at the conclusion of his tenure in March 2014.
Speaking from his past position as the Managing Director and Chief Executive Officer of Diamond Bank, Otti affirmed that Obi did not merely leave substantial funds behind, but actively structured them into foreign-currency investments and banking capital instruments on behalf of the state.
“All the money Peter Obi said he left, I can testify that he actually left them,” Otti stated. “I was the CEO of Diamond Bank then and part of the process. He wanted to leave the money in cash. We said no. We converted about 155 million dollars from naira and invested it in Eurobonds and the tier-two capital of some banks.”
Reframing the Allegations
The Soludo-led administration recently challenged Obi’s long-standing financial record, citing Debt Management Office figures to assert that Obi left behind external loan liabilities totaling roughly $92.35 million ($123.77 million original value), alongside accrued contractor and labor obligations.
However, Otti’s detailed account shifts the narrative from unverified debt to strategic asset creation:
Banker’s Verification: Otti provides direct, first-hand verification from the financial institution that managed the transaction, confirming the actual existence of the reserve funds.
Capital Protection: The $155 million allocation was deliberately converted into dollar-denominated Eurobonds and tier-two bank assets to protect state funds from inflation and devaluation, rather than leaving them idle as cash.
Handover Alignment: Otti’s account corroborates handover records verified by former Anambra SSG Oseloka Obaze, which document a net asset balance exceeding N86 billion at the time Obi vacated office.
The Core Conflict
While the Soludo administration continues to emphasize long-term project-specific liabilities incurred during Obi’s tenure, Otti’s testimony underscores that the administration left liquid, yield-bearing assets designed to offset state obligations.
By confirming the $155 million conversion and investment strategy, Otti provides key evidence against claims that the former governor left the state in financial jeopardy.
