Abba Yusuf, the Kano State governor-elect, has cautioned all potential and current lenders to the state government against providing loans to the administration of Governor Abdullahi Umar Ganduje. He emphasized that his government would not honour or pay back such loans that come after the March 18 election.
The governor-elect also stated that all existing loan facilities taken by the Ganduje administration would be renegotiated by the new administration and would be guided by an audit/review of the usage of each loan facility.
According to a statement released by Sanusi Dawakin-Tofa, Abba Yusuf’s Chief Press Secretary, on Saturday morning, the governor-elect has directed the issuance of a public advisory to all prospective and current lenders to the Kano State Government. The statement indicated that between March 18 and May 29, no lender, whether domestic or international, should approve and provide any loan facility to the Kano State Government without the explicit consent of the incoming administration.
Furthermore, the new administration would not honour any loan facility that is approved and issued to the Kano State Government between the date of the election and the date of swearing-in without the knowledge and consent of the incoming administration. The statement also stressed that all existing lenders to the Kano State Government would need to renegotiate the terms and conditions for all current loan facilities. The renegotiation would be guided by the audit and review of the usage of each loan facility.
The statement concluded by emphasizing that the advisory is made in the public interest. The governor-elect warned that any prospective lender should take heed of the directive to avoid any negative consequences. The caution came shortly after Abba Yusuf emerged as the winner of the governorship election in Kano State, Nigeria.
