Kano governor seeks state assembly’s approval to access N20 billion central bank loan

The bill that will grant the Governor of Kano State, Mr. Abdullahi Umar Ganduje, the approval to access N20 billion loan from the Central Bank of Nigeria (CBN) has scaled second reading in the Kano State House of Assembly.

The bill scaled the second reading yesterday during the assembly’s plenary session that was presided over by the Speaker, Mr. Hamisu Ibrahim Chidari.

The Majority Leader of the State Legislature, Mr. Labaran Madari, who read the Kano State Supplementary Appropriation Bill 2021, said the request was approved in 2020 but the government did not access it.

Madari said: “It is a law that when the assembly approved a government request to access such loan, but did not access and the year run-out, the governor has to present the request again before the assembly.

“The governor cannot access such a facility until the assembly approves its request. That is why on Monday, March 15, the governor submitted his request again seeking our approval.”

He added that the government would use the fund for the construction of township roads in Gaya, Karaye, Rano and Bichi emirate councils if the request is approved.

He said that the governor’s letter highlighted “the compelling need to execute this laudable project that has a direct bearing on socio-economic life of our teeming populace in the state.

“Therefore, the drawdown of the sum of N20 billion is sacrosanct in the year 2021 to enable the state government execute the project.

“In view of the foregoing, it is necessary to prepare and present the list of the projects to the sum of N20 billion central bank’s stimulus loan for scrutiny, consideration and approval by this honourable House of Assembly.”

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