Kano Gov. seeks Assembly’s approval to borrow N20bn from CBN

Governor Abdullahi Ganduje of Kano State has written the state House of Assembly seeking their consent to obtain N20 billion Central Bank of Nigeria, CBN loan.

The Majority Leader, Alhaji Yusuf Ata, who read the details of the letter on the floor before the House yesterday, said the government would disburse N6 billion to the 44 local governments as bailout.

Ganduje, in the letter, stated that part of the loan would be used for settling pensioners’ arrears and the payment of salaries of newly-employed health workers.

He, however, explained in the letter that the loan to be granted to the 44 local governments was payable within a period of 20 years.

Ganduje said the N6 billion to the 44 local governments was anticipated to be expended on projects that had direct bearing with the rural populace.

Sequel to the request, the Assembly directed its Committee on Finance to scrutinize the content of the letter for appropriate action.