Kaduna denies fresh $17.69m loan

Kaduna denies fresh $17.69m loan

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The Kaduna State Government, through the Ministry of Finance, has denied obtaining a fresh $17.69 million loan.

The state Commissioner for Finance, Shizzer Bada, made this known in a press statement on Thursday.

Bada said, “We did not borrow the said amount or any other amount as reported. The claims are entirely false and fabricated.

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“There must be clarity for borrowing and it is crucial to understand that; borrowing activities by sub-national entities in Nigeria are strictly governed by a framework comprising the Constitution of the Federal Republic of Nigeria.”

According to her, the Kaduna State Governor, Uba Sani, did not enter into any agreement or receive any foreign loan as claimed.

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“The legal provisions outlined in relevant statutes are clear regarding external borrowing by government entities.

“The Debt Management Office (Establishment, Etc.) Act, 2003, explicitly mandates that no external loan can be approved or obtained without prior presentation of its terms and conditions to the National Assembly for approval,” she added.

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Bada urged the public to disregard the report and resist being misinformed.

Kaduna denies fresh $17.69m loan

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