Don’t lend money to Ganduje govt – Kano Governor-elect cautions lenders

Abba Kabir Yusuf, the incoming governor of Kano State, has issued a public debt suspension advisory to both domestic and foreign lenders despite being cautioned against doing so.

He requested that they turn down any loan requests without first getting his approval.

Similar advice on illegal building construction on public property had been given by Yusuf.
The Umar Ganduje administration swiftly overruled the advice, reminding him that they still held power and advising him to hold off until May 29.

Abba insisted that the Advisory is necessary in the second advisory, which was included in a statement signed by the Governor-chief elect’s press secretary Sanusi Bature Dawakin Tofa.

According to the statement, no lender—domestic or foreign—shall approve or issue any loan facility to the Kano State Government without the express approval of the incoming administration, effective from March 18 to May 29.

“The new administration will not honor any such loan facility approved and issued to the Kano State Government without the explicit knowledge and consent of the incoming administration between the date of the election and the date of swearing-in.

“All continuing 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,” reads a statement from the new administration.

The advisory, he continued, was issued in the public’s best interest.