Nigeria Would Be Rich if Leaders Left Public Funds in Banks – Obi

Former Anambra State Governor Peter Obi has said Nigeria would be much wealthier if public office holders protected government funds and allowed them to earn interest in banks instead of mismanaging the country’s resources.

Obi, the Nigeria Democratic Congress (NDC) presidential candidate for the 2027 general elections, made the remarks during a radio interview in Nasarawa State on Wednesday. He discussed public spending, accountability and his administration’s record in basic education.

The former Labour Party presidential candidate argued that Nigeria could have accumulated substantial wealth if leaders had consistently safeguarded public funds and allowed them to generate interest in financial institutions.

He said he wished public office holders across the country would leave government money in banks, adding that the interest generated over time could have made Nigeria exceptionally wealthy.

Obi disclosed that the funds under his administration were kept in three different banks, presenting the arrangement as an example of prudent management of public resources.

He also criticised what he described as a culture of dishonesty and the tendency to discredit people who act with integrity. According to him, people accused of wrongdoing often unite to undermine those who seek to act honestly.

Obi described Nigeria as a country where moral values had been reversed, arguing that honesty was often treated as wrongdoing while criminal conduct was portrayed as acceptable.

He reiterated that the country could have accumulated far greater wealth if successive leaders had protected public funds and allowed them to earn interest rather than diverting them.

The former governor also addressed questions about his administration’s approach to public engagements and the promotion of government projects. He explained that he believed projects funded with public money should speak for themselves, rather than require elaborate ceremonies or television publicity.

Obi acknowledged that his approach might have been wrong but maintained that his administration had focused on carrying out its responsibilities using public resources.

On basic education, the former governor defended his record, insisting that Anambra State performed exceptionally well in the sector during his tenure. He urged people to examine the records to assess his administration’s achievements.

He also referred to a visit by Professor Paul Collier of the University of Oxford, whom he said had travelled to several states to assess developments in education and witnessed substantial improvements.

Obi maintained that education remained a key measure of development and argued that his administration’s performance in the sector demonstrated the importance of responsible leadership and prudent management of public resources.