The Kaduna State Government has refuted stories circulating on social media platforms and news blogs that is has taken new loans worth $17.9Million.
In a statement, Kaduna State Finance Commissioner,Shizzer Nasara Bada the Kaduna called on the public to disregard what he described as ‘blatant falsehood’ and a creation of some mischievous people to undermine the credibility of the Uba Sani-led administration.
The commissioner said the state government did not borrow the said amount or any other report, adding that there are criteria for borrowing, describing it as 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, the Debt Management Office (Establishment, Etc.) Act, 2003, the Fiscal Responsibility Act, 2007, the Investments and Securities Act, 2007, and the Fiscal Sustainability Plan: Fiscal Framework for Sub-National Governments in Nigeria.
The finance commissioner said the Kaduna State Government, under the leadership of Governor Uba Sani, has not entered into any agreement or received any foreign loan amounting to $17.69 million, as claimed, noting that the legal provisions outlined in relevant statutes are clear regarding external borrowing by government entities.
