Kaduna rejects additional $17.69m loan

The Ministry of Finance, representing the Kaduna State Government, has refuted claims of acquiring a new loan worth $17.69 million.

In an official statement, the Commissioner for Finance, Shizzer Bada, categorically denied the existence of such a loan or any other loan as reported. Bada emphasized that the allegations were completely false and fabricated.

She stressed the importance of clarity when it comes to borrowing, highlighting that sub-national entities in Nigeria are bound by a framework outlined in the Constitution of the Federal Republic of Nigeria.

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Bada further clarified that the Kaduna State Governor, Uba Sani, had not entered into any agreement or received any foreign loan, as falsely claimed.

She pointed out that the Debt Management Office (Establishment, Etc.) Act of 2003 explicitly states that no external loan can be approved or obtained without prior presentation of its terms and conditions to the National Assembly for approval.

Bada concluded by urging the public to disregard the report and not be misled by misinformation.