Kaduna State Governor Uba Sani holds an emergency security meeting at the Sir Kashim Ibrahim Government House, Kaduna, on Tuesday, August 29, 2023. The Kaduna State Government has refuted allegations circulating on social media platforms and news blogs that new loans worth $17.9 million have been received by the administration, stating that the claims were “totally false and fabricated”.
are strictly governed by a framework comprising the Constitution of the Federal Republic of Nigeria, the Debt Management Office 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 commissioner said.
“The Debt Management Office 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. Additionally, any external loan must be accompanied by a guarantee issued by the Minister.
Source: Loan News Today (loannewstoday.net)
Kaduna State Government Loans Allegations False Fabricated
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