Kano gov-elect, Yusuf, warns against giving loans to outgoing Ganduje-led govt

Barely few days to May 29 inauguration, Kano State Governor-elect, Abba Kabir Yusuf, has warned lenders against giving Ganduje-led administration loans.

Yusuf maintained that he won’t honour any loans taken by the outgoing government immediately after the March 18 goveenorship election.

Ganduje had recently warned Yusuf against issuing directives in the state, saying he should wait until May 29.

However, Yusuf in a statement issued by his Chief Press Secretary, Sanusi Dawakin-Tofa, on Saturday, ignored Ganduje’s warning.

He urged all subsisting and prospective lenders to the current government to be cautious.

The statement reads, “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:

Read also:NNPP clinches one state, as Yusuf wins in Kano

“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 the 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.”

Join the conversation


Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now

Please follow and like us:

Leave a Reply

Your email address will not be published. Required fields are marked *