On at about 08:42:15 AM, Ganduje Seeks N20bn Loan From CBN was updated.
News » Ganduje Seeks N20bn Loan From CBN; Governor Umar Abdullahi Ganduje of Kano State is seeking the permission of the State Assembly to borrow the sum of N20 Billion after all efforts to secure the facility at commercial banks failed.
Governor Ganduje, who sent a letter to the state assembly seeking it to approve his request, is seeking for a loan from the Central Bank of Nigeria (CBN) and United Bank for Africa (UBA), in order to balance up financial shortages the state is suffering from, following the COVID-19 pandemic and the recent End SARS protests that slowed down economic activities. Already, the state house of assembly is said to have approved Ganduje’s request to access N20 billion loan from the Central Bank of Nigeria (CBN) and United Bank for Africa (UBA).
The assembly approved the request during its plenary on Monday after the Speaker, Abdulazeez Garba-Gafasa, read the letter received from Ganduje, seeking their consent to access the loan. The Majority of the assembly, Kabiru Hassan-Dashi told newsmen that the loan was to cover up the economic breakdown occasioned by the COVID-19 pandemic. Hassan-Dashi added that the assembly considered the governor’s request after having challenges to access it from the capital market due to worsening economic conditions.
Similarly, during the plenary, a member representing Kunchi/Tsayawa constituency, Garba Ya’u-Gwarwai apologised to the assembly on behalf of the five of them suspended on March 2020.
According to Ya’u-Gwarwai:-
“We are apologizing in order to allow for peace to reign in the assembly, therefore I am apologizing on behalf of my other colleagues.”
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