Kano State Governor-elect, Abba Yusuf, has warned all subsisting and prospective lenders to the current Kano State Government against granting fresh loans.
The advisory is contained in a statement issued on Friday in Kano by the Chief Press Secretary to the governor-elect, Sanusi Bature Dawakin-Tofa.
It warned that from March 18 to May 29, no lender, domestic or international, should grant any loan facility to the incumbent Kano State Government without the expressed 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 the 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 utilisation audit/review of each loan facility,“ the statement said.