Posted by Abba Kabir Yusuf, the governor-elect of Kano State, has issued a Public Debt Suspension advisory to both domestic and foreign lenders despite a cautious warning from others not to give orders.
Without his permission, he asked them not to consider any loan requests.
Regarding unauthorized construction on public property, Yusuf had previously issued a similar warning.
The Umar Ganduje government swiftly overruled the advice, reminding him that they still held power and advising him to hold off until May 29.
However, Abba emphasized the necessity of the second advisory in a statement issued by the Governor-elect’s chief 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.
Any such loan facility that was approved and given to the Kano State Government between the election and the swearing-in date without the express knowledge and consent of the new administration will not be honored by the new administration.
“All continuing lenders to the Kano State Government shall take notice that the new administration will renegotiate all terms and conditions for all existing loan facilities, guided by the utilization audit/review of each loan facility. “.
The advisory, he continued, was issued in the public’s best interest.
I hope Nigeria will be better one day