Shocker: Obiano sinks Anambra into heavy debt, borrows $21 million in 6 months

Posted by News Express | 7 March 2015 | 4,818 times

The Willy Obiano administration, which marks its one-year anniversary this month (March 17), has sunk Anambra State into heavy debt, according to the International Society for Civil Liberties & the Rule of Law (Intersociety).

The group, based in Anambra’s famed commercial town, Onitsha, said this morning that figures at its disposal indicate that the state “borrowed $21M in the last six or seven months of 2014.”

Intersociety quoted Nigeria’s Debts Management Office (DMO) as the source of the information.

“DMO’s records saying Anambra State’s external debt as at December 2014 was $45.1M; is not only convincing but also shows that the State borrowed $21M in the last six or seven months of 2014. The State’s external debts as at December 2013 were $24M,” the frontline rights group said in a statement issued this morning, signed by its Board Chairman, Emeka Umeagbalasi; Head, Campaign & Publicity Department, Uzochukwu Oguejiofor, Esq.; and Head, Democracy & Good Governance Programme, Chiugo Onwuatuegwu, Esq.

On local debts, the statement credited DMO with saying that Anambra State now owes N3.02B as against the N6.2B it owed in early 2014, meaning that it repaid N3.18B in six months of 2014.

Source: News Express