Politics
Obi absconded with LP’s ₦12 Billion, $15M – Arabambi claims
Factional National Publicity Secretary of the Labour Party, Labour Party, Abayomi Arabambi, has accused former presidential candidate Peter Obi of leaving the party with substantial funds allegedly belonging to the organisation.
Speaking during an interview with Nevon HQ, Arabambi claimed the party had about ₦12 billion in one of its accounts and another $15 million in a separate dollar-denominated account.
He alleged that Obi left with the funds following his exit from the party and subsequently distanced himself from the organisation.
According to him, the financial figures involved were far beyond what Obi had earned personally in his career.
Arabambi also alleged that one of Obi’s companies in the United Kingdom went into bankruptcy over an alleged debt of about £900,000.
He said legal action would soon be initiated to recover the alleged funds, insisting that the matter would not be abandoned.
“In that account we had over 12 billion naira and in another dollar account we had 15 million dollars that Obi ran away with. That was why he ran away from Labour Party,” he said.
Arabambi further claimed that Obi had never earned such sums personally and questioned the legitimacy of the alleged transactions.
The claims add to the ongoing internal tensions within the Labour Party, which has continued to experience leadership disputes and factional disagreements since the 2023 general elections.
As of press time, Obi has not publicly responded to the latest allegations.
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