Kano State governor-elect Abba Yusuf has warned all current and prospective lenders to the state government to stop lending to the Governor Abdullahi Umar Ganduje administration, claiming that his administration will not honour or repay such loans after the March 18 election.
He also stated that the new administration will renegotiate all existing loan facilities taken by the Ganduje administration, guided by a utilisation audit/review of each loan facility.
Yusuf’s position was contained in a statement released to the media on Saturday morning by his Chief Press Secretary, Sanusi Dawakin-Tofa.
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.