Kano State House of Assembly yesterday approved Governor 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 was titled: “Request for N10bn 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 five fmirates councils as well as Cyber Control Rooms to address serious security issues in the Northwest.
Ganduje stressed that “This is due to the fact that security at the North-west is at alarming stage which needs to be seriously addressed.”
The governor added, “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.”
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, Hamisu Ibrahim Chidari, the speaker, read Ganduje’s request letter on the floor and the members approved the request.