Abba Yusuf, the governor-elect of Kano State, has cautioned current and potential lenders to the state government against granting loans to Governor Abdullahi Umar Ganduje’s administration.
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He stated that his government would not acknowledge or repay any loans obtained by the Ganduje administration after the March 18 election. Additionally, Yusuf declared that all existing loan facilities taken by the Ganduje administration would be renegotiated by the new administration, guided by an audit/review of each loan facility’s utilization.
The statement, issued by Yusuf’s Chief Press Secretary, Sanusi Dawakin-Tofa, on Saturday morning, contained the governor-elect’s stance. It stated that no lender, domestic or international, should approve or issue any loan facility to the Kano State Government between March 18 and May 29 without the incoming administration’s explicit consent.
The statement also emphasized that any loan facility approved and issued to the Kano State Government during this period without the incoming administration’s knowledge and consent would not be honored. The statement concluded by advising all existing lenders to the Kano State Government that all terms and conditions for existing loan facilities would be renegotiated by the new administration, guided by an audit/review of each loan facility’s utilization.
According to the statement, “The Governor-elect of Kano State, Engr. Abba 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,” the statement read.
