Kano Assembly Grants Ganduje’s N10bn Loan Request For Security Infrastructure.
The Kano State House of Assembly on Wednesday approved Gov. Abdullahi Umar Ganduje’s request to access N10 billion in domestic loans to fund a security project.
In a letter addressed to the Speaker, Kano House of Assembly that was personally signed by the governor, Dr. Abdullahi Umar Ganduje said the fund to be accessed from Access Bank Plc would be expended on CCTV system across major points within and around Kano metropolis.
The letter sighted by INDEPENDENT was titled.”Request for N10b facility from Access Bank for security infrastructure development.” was read to the floor midweek.
Ganduje had explained in the letter that he wanted to install CCTV cameras in strategic places in the Kano metropolis, and headquarters of the 5 emirate Councils as well as cyber control rooms to address serious security issues in the Northwest.
Dr Ganduje stressed that “This is due to the fact that security at the North-west is at alarming which needs to be seriously addressed.”
Ganduje said “Consequently, in view of the above, I am pleased to request this honourable house to kindly approve for securing N10b loan facility on the above subject matter based on the loan repayment schedule includes a tenor period of 120 months (ten years) inclusive of 12 months moratorium on principal repayment,”
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He explained that “the monthly interest repayment shall be N41, 666, 666. 67, while for the remaining 108 months, the repayment of principal and interest shall be N110,172,731.68 ie 5%.”
Shortly after, Engineer Hamisu Ibrahim Chidari, the Speaker, of 40 man-strong Assembly read Ganduje’s request letter to the floor, members approved the request in line with the dictates of the loan.
