Kano Governor-elect says he won’t honor any loan given after election
The Kano State governor-elect, Abba Yusuf, has made it clear to all subsisting and prospective lenders to the state government that his administration will not honour or pay back loans given to the sitting governor, Abdullahi Umar Ganduje after the March 18 election.
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Hr further said that all existing loan facilities taken by the Ganduje administration shall be renegotiated by the new administration and guided by the utilisation audit/review of each loan facility.
Yusuf’s stand was contained in a statement by his Chief Press Secretary, Sanusi Dawakin-Tofa, and made available to newsmen on Saturday morning.
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 utilisation audit/review of each loan facility.
“This advisory is made in the public interest, please,” the statement read.
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