•Ex-Governor
Obi’s Camp Kicks
Anambra State Governor
Willie Obiano has cashed in on some of the dollar components of the tenured
savings left by his predecessor, Mr. Peter Obi.
The
Nation report continues:
According
to sources, the transaction consummated on December 16, 2015, through the Anambra
State Investment Promotion Agency (ANSIPA) saw the disposal of 8.25 per cent of
First Bank of Nigeria Plc Bonds from which about US$10.2 million was realized.
This amounted to about ₦3billion, going by the present exchange rate.
The
bond, which was to mature in August 2020, had an annual coupon yield of 8.25
per cent and was purchased by Access Bank at a much discounted rate on December
18, 2015.
The
sale was carried out ‘over the counter’ to keep it away from public glare, it
was alleged.
This
sale is coming after the Obiano administration is said to have reaped over ₦8.7
billion in total interest yields from the savings and investment portfolio left
by Obi.
Obiano
is also alleged to have borrowed heavily in less than two years of his
administration.
A
few months ago, there was a furore over the actual amount left by Obi. The
Secretary to the State Government, Prof. Solo Chukwulobelu said there was no
plan to dispose of the saving which he described as “near cash” and which he
insisted was only about ₦9 billion only.
However,
Obi’s former aides insisted that US$156 million (₦26.5 billion) was saved by
Obi’s administration, which was valued at US$176 million (₦35 billion) as
at November 2015.
When
the Accountant-General of the state, Mrs Ngozi Okonkwo, was contacted on the
sale, she declined to comment on the matter, saying it has to do with the
finances of the state. She, however, warned that Obiano and Obi are good
friends and the press should not create a crisis between them.
“You
cannot ask me to comment on the state’s finance, it is not done. How many
Accountant-Generals have you asked about their state’s finances? Is that how
you people do?
“Can
I ask you how much was the soup your wife cooked? So please don’t ask me that
question because I don’t know you. The two governors are friends; you should
not do anything against them,” she said.
Special
Adviser to Governor Obiano Mr. Mark Okoye said he was at a meeting and he
did not reply to text messages.
But
another of Obiano’s aide’s, who desired anonymity, described the transaction as
timely. He said the former governor was “wicked” for tying the state’s funds to
long maturity dates. He praised Obiano for breaking what he described as
“bondage”.
“Have
you not been to Awka recently? At least work is ongoing on three flyovers,
which means that the money Obiano borrowed and the one he realized from the
sale of the bonds are being put into good use”, the aide said. He urged
Obiano to sell the entire savings and use the proceeds to complete many
projects he is executing, including those he said “Obi hanged on his neck as
yoke”, to make the people happy.
Media
aide to Obi Mr. Valentine Obienyem said both he and his boss would rather not
be drawn into the matter. “All I can tell you is that Mr. Peter Obi saved
the money under Anambra’s Future Growth Funds; he had a vision of a sustainable
state.”
The
savings Obi left for Obiano have been controversial. A few weeks ago, both
camps engaged in a war of words following Obiano’s insistence that Obi left ₦9
billion in the treasury.
Obi’s camp, which insisted
that he left over ₦50 billion cash in local currency, said Obiano was merely
seeking justification to squander the funds and to justify his plan to borrow
massively, raise bonds and sell the state’s savings, including Euro bonds and
shares in INTAFACT Breweries Ltd.
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