The Kano State governor-elect, Abba Yusuf, has warned that his government won’t honour or pay back loans given to Governor Abdullahi Umar Ganduje’s administration coming after the March 18th election.
Yusuf also said all existing loan facilities taken by the Ganduje administration shall be renegotiated by the new administration and guided by the utilization audit/review of each loan facility.
He disclosed these in a statement issued by the Chief Press Secretary to the Governor-elect, Sanusi Bature Dawakin-Tofa on Saturday morning.
According to the statement, “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 utilization audit/review of each loan facility.
“This advisory is made in the public interest, please,” the statement however reads.