Don’t give any loan to Ganduje govt, Kano Governor-elect cautions lenders

Don’t give any loan to Ganduje govt, Kano Governor-elect cautions lenders

Despite a cautious reminder to the Kano State Governor-elect Abba Kabir Yusuf against issuing orders, he has issued a Public Debt Suspension advisory to both domestic and international lenders.He asked them not to entertain any requests for loans without his consent.Yusuf had issued a similar advisory on illegal building construction on public places.However, the advisory was quickly countered by the Umar Ganduje government, reminding him that they were still in charge and that he should wait until May 29.But in the second advisory contained in a statement signed by the Governor-elect’s chief press secretary Sanusi Bature Dawakin Tofa, Abba insisted that the Advisory is necessary.The statement reads: “Effective from March 18 to May 29, no lender (domestic or international) shall approve and issue any loan facility to Kano State Government without the express consent of the incoming administration.“Any such loan facility approved and issued to the Kano State Government between the date of election and the date of swearing-in without explicit knowledge and consent of the incoming administration will not be honoured by the new administration.“All subsisting lenders to the Kano State Government shall take notice that all terms and conditions for all existing loan facilities shall be renegotiated by the new administration guided by the utilization audit/review of each loan facility.”He added that the advisory was made in the public interest.

Source: Don’t give any loan to Ganduje govt, Kano Governor-elect cautions lenders

 - NigerianEye
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