Debunking the Phantom Debts and Ecological Loan Fallacy
My attention has been drawn to trending claims by the Anambra State Government that my administration left behind inherited debts, including a ₦2 billion ecological loan, contractor liabilities, and unpaid salaries, gratuities, and pensions. This is completely false.
We systematically liquidated historical gratuities and arrears dating back several years, amounting to over ₦35 billion. At the point of handover, the state owed nothing in salaries, gratuities, or pensions, nor did we owe anything to any contractor for projects duly executed and certified.
The ₦2 billion ecological fund in question was released barely three months before the end of my tenure for the Oko/Umuchiana erosion crisis. Despite pressure to spend the money, I refused, insisting that it should be left for my successor because government is a continuum and the funds were tied to a specific project.
The money was therefore left 100 per cent intact in First Bank, in Account No. 2018779464, with a balance of over ₦2.13 billion.
It is important to stress that funds tied to specific projects or set aside for particular purposes were not even included in the over ₦75 billion in savings we left behind.
If anybody can establish anything to the contrary, I will stop campaigning. -PO
I'm 57.
I wish someone told me this in earlier:
Don’t chase millions.
Instead, focus relentlessly on your first $100,000.
After that, my net worth went crazy. Here’s why:
Before age 40, you need to read these books:
1. Psychology of Money by Morgan Housel
Lessons:
• Money is More Than Numbers: Your habits, emotions, and past experiences shape how you handle money.
• Avoid Comparisons: Don't compare your financial journey to others. Focus on your own goals and progress.
• Plan for the Long Term: Think about money in decades, not days. Long-term planning leads to better decisions.
If you don't understand debt, you'll never be wealthy.
15 years ago I was over $200k in debt and still overspending. Here are the hacks I used to fix that:
Real wealth is not:
• Sports cars
• Private jets
• Mansions
• Yachts
Real wealth is:
• Waking up without an alarm on Monday
• Having dinner with your family daily
• Going a walk on Tuesday at 3pm
• Reading a book at 11am on a Wednesday
Real wealth isn't about money, it's about freedom.
Breaking: African Leaders Reaction in France, Ramaphosa told Macron Africa we are not beggars!
Chicago State University| Atiku| Groovy| Seyi Tinubu| NYSC| Cute Abiola| David Hundeyin|