The Kaduna State Government has refuted rumors circulating on social media platforms and news-blog alleging a $17.9 million loan have been received by the administration stating that the claims were “totally false and fabricated.”
The Commissioner of Finance for Kaduna State, Shizzer Nasara Bada emphasized that the state has not taken out any loans, whether the alleged amount or any other sum, suspecting that these rumors are being spread maliciously to discredit Governor Uba Sani’s administration.
Bada further explained that when Nigerian states seek to borrow funds from foreign sources, they adhere to strict regulations and protocols.
“We categorically did not borrow the reported amount or any other sum. These claims are entirely fabricated. It’s essential to understand that borrowing by sub-national entities in Nigeria is governed by a robust framework.”
“The Debt Management Office (Establishment, Etc.) Act, 2003, mandates prior approval by the National Assembly for any external loan. Additionally, a guarantee from the Minister is indispensable.”
“With these legal safeguards in place, the allegations of borrowing $17.69 million by the Kaduna State Government hold no merit. Governor Uba Sani’s administration has not pursued any new borrowing endeavors.”
Bada called on the public to disregard the blatant falsehood as a creation of some mischievous people to undermine the credibility of the Governor Uba Sani-led administration.
