Kano State Governor-elect, Engr. Abba Kabir Yusuf, on Saturday asked local and international lenders to stop giving loans to Kano State government.
Yusuf, in his advisory press release issued by his Chief Press Secretary, Sanusi Bature Dawakin Tofa, on Saturday said any local or international organisation that would issue loan to Abdullahi Umar Ganduje administration from March 18 to May 29, does so at its risk. According to the governor-elect, all terms and conditions for all existing loan facilities must be renegotiated by his administration.
The statement, entitled: Public Debt Suspension Advisory, stated: “The Governor-Elect of Kano State His Excellency Engr. Abba Kabir Yusuf has directed that this Public Advisory be issued to all subsisting and prospective lenders to the Kano State government viz.: 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 utilisation audit/review of each loan facility. This advisory is made in the public interest, please.”
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