Abba Kabir Yusuf, the next governor of Kano State, has issued a public debt suspension advise to both local 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 unauthorized building construction on public property has been given by Yusuf.
The Umar Ganduje administration swiftly overruled the advice, telling him that they still had power and advising him to hold off until May 29.
Abba maintained that the Advice is required in the second advisory, which was included in a statement signed by the Governor-top elect’s press secretary Sanusi Bature Dawakin Tofa.
The statement reads: “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.”
