The Kano State Governor-elect, Abba Kabir Yusuf has issued a Public Debt Suspension advisory to both subsisting and prospective lenders, saying he won’t honour any loan facility given to the current state government without his consent.
This was contained in a statement signed by the Governor-elect’s chief press secretary Sanusi Bature Dawakin Tofa, on Saturday, April 1, 2023 and made available to The Point.
The statement reads, “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.:
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“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.”