Oshiomhole Questions Obi’s $150m Savings as Otti Explains Dollar Conversion

Senator Adams Oshiomhole has questioned Peter Obi’s claim that Anambra State saved about $150 million during his tenure as governor. He argued that federal allocations were paid in naira and asked how the state obtained dollars for the savings. However, Abia State Governor Alex Otti said he advised Obi to convert part of the state’s savings into United States dollars while he was chief executive of Diamond Bank. According to Otti, the move was intended to protect the funds from naira depreciation. Otti said the money was spread across three Nigerian banks and invested in instruments including Eurobonds and Tier-2 capital. His account challenges Oshiomhole’s suggestion that Anambra could not have legitimately built dollar-denominated savings.

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