Obiano set to spend multi-million dollar component of Obi's savings for Anambra, Obi said he save N86 Billion

Governor Willie Obiano of Anambra State is set to spend the US$155m (N35 billion) the former governor,
Peter Obi left for the state in foreign currency investment.
The account balance of the naira component of the N75 billion the former Anambra State Governor, Peter Obi's administration left in savings for the state is now empty, reliable sources told elombah.com
Speaking with elombah.com at Oxford, United Kingdom where he has been participating in the Advanced Management and Leadership Programme of the Oxford University's Said Business School since the 7th of June, Mr Peter Obi produced documents confirming his administration left N75 billion in savings for the state.
Obi said the savings exceed the stated amount if monies paid upfront to contractors for contracts awarded for several infrastructural projects at the twilight of his administration is taken into account.
"The total savings is in the neighborhood of 86 billion naira", Obi said.
Recall that the former governor had announced during a public presentation in March 2014 of his end of tenure report at the Women Development Centre, Awka that the money included N25billion investment for the state.
In a further breakdown of the savings, Obi said that expected bank balances as at March 14, 2014 would be N11.5 billion: Federal Government of Nigeria approved refund N10 billion; foreign currency investment (US$155m) N35 billion.
Obi also gave account of the investment the state made in some projects being executed, some of which are N3.5 billion in INTAFACT, N9 billion in Nigeria Independent Power Project; N4 billion in Orient Petroleum Resources PLC; N1 billion in Onitsha Hotel; N1 billion in Agulu Lake Hotel; N0.9 billion in Awka Shopping Mall, N350 billion in quoted investment portfolio, among others.
Despite these savings, information available to elombah.com indicates that after he has squandered the money saved in various banks in Naira, Gov. Willie Obi has rescinded his earlier plan to borrow money, save for the overdraft facilities usually extended to the state by Fidelity Bank.
Obiano who has severally been accused of running an extravagant administration has been convinced by aides  close to him "that Anambra people will stone him if he borrows in an economy peter Obi spent 8 Years, met his financial obligations and saved money before he left", multiple sources stated.
"He now plans to access those foreign bonds Obi left, totaling over 35 Billion in Naira. He also plans to sell Anambra’s investment in SABMiller (Intafact), that now worth over 10 Billion Naira."
Elombah.com was told that the office of the Accountant General of Anambra State has already written to Diamond Bank, Fidelity Bank and Access Bank introducing AFRINVEST as the new firm that will have the final say on those investment. The plan is to finally instruct them to sell the bonds.
AFRINVEST is owned by the OBASEKIS. "The plan is to shield the transaction from Anambra people who will likely raise alarm in the event of sale", the source said.
Meanwhile contractors to the state are said to be crying over mounting debts.
One contarctor owned over 3 Billion reportedly said Governor Obiano 'approved his file and heavily cut the amount he would be paid to about million and that when he got to the AG’s office he was paid only 25 Million with explanations that there is no money."


Photo 1 Obi and Elombah publisher Daniel
Obi and Abati and others at Oxford University