Kano State Governor-elect, Engr. Abba Kabir Yusuf, on Saturday, asked local and international lenders to stop giving loans to Kano State government.
In the advisory issued by his Chief Press Secretary, Sanusi Bature Dawakin Tofa, Yusuf said that any local or international organisation that would issue loan to Abdullahi Umar Ganduje administration from 18th March to 29th May does so at its own risk. According to the governor-elect, all terms and conditions for all existing loan facilities must be renegotiated by his administration.
The statement reads: “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 18th March to 29th May, 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”.