Abba Yusuf, the governor-elect of Kano State, has issued a warning to current and potential lenders to the state government not to provide loans to the current Governor Abdullahi Umar Ganduje administration.
The governor-elect stated that his government would not recognize or repay any loans obtained after the March 18 elections. Furthermore, Yusuf stated that all existing loans secured by the Ganduje administration would be reviewed and renegotiated by the new administration. The utilization audit/review of each loan facility will guide the new administration.
In a statement released on Saturday morning by Sanusi Dawakin-Tofa, the Chief Press Secretary to the governor-elect, Yusuf directed that all subsisting and potential lenders to the Kano State Government should take note of the public advisory. The statement also indicated that no lender, whether domestic or international, should approve or issue any loan facility to the Kano State Government between March 18 and May 29 without the express consent of the incoming administration. Additionally, any loan facility approved and issued to the Kano State Government without the knowledge and consent of the new administration will not be recognized or honored.
It is essential to note that all current lenders to the Kano State Government will be renegotiated by the new administration, and the terms and conditions of all existing loan facilities will be guided by the utilization audit/review of each loan facility. In light of this statement, all lenders are advised to exercise caution when dealing with the Kano State Government until the new administration takes office.
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