JUST IN: Kano assembly approves Ganduje’s loan request of N10bn
Kano State House of Assembly on Wednesday approved N10bn loan request of governor Abdullahi Umar Ganduje.
Solacebase reports that the loan request to the assembly was titled ‘’Request For Approval To Secure N10,000,000,000.00 Loan Facility From Access Bank PLC For Security Infrastructure Development’’.
At the plenary on Wednesday , the Speaker, Hamisu Ibrahim Chidari read the loan request letter dated March 18th, 2022 and acknowledge by the Assembly Clerk on May 10th, 2022.
Meanwhile, after the reading of the letter , the members unanimously approved after a contribution from the Majority Leader of the House , Labaran Abdul Madari member representing Warawa constituency and Chief Whip Ayuba Labaran Durum from Kabo constituency.
Speaking on the issue, Labaran Madari said the reason for the loan was in order.
He said that the loan had a single-digit interest rate with a repayment period of 10 years and a moratorium of of one year.
Madari said the facility would be used to build control rooms for security information and intelligence gathering.
”These gadgets would be installed in all the headquarters of the five emirates in the state.
”The entire essence is to strengthen security and mitigate crime in the state,” he said.