The Kano State governor-elect, Abba Yusuf, has issued what amounts to a caveat emptor to domestic and international lenders, warning that any institution that gives a loan to the outgoing Governor Abdullahi Umar GGanduje between March 18 and May 29 when he takes over does so at its own risk.
Recall that Yusuf had previously called for the immediate suspension of ongoing construction on public places already sold by the outgoing administration.
The places include areas cut out of ,public schools, Mosque premises, healthcare center, court premises, graveyards, and government reserve areas.
In a statement titled, Public Debt Suspension Advisory, by his spokesman, Sanusi Dawakin-Tofa, the incoming governor said: “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.:
“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.”