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Published On: Wed, Sep 10th, 2014

Sokoto PDP to Banks: Don’t grant Wamakko’s N3.6bn loan

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From Raji Bello, Sokoto

Sokoto state chapter of the Peoples Democratic Party (PDP), yesterday issued a caution letter to all commercial bank not to grant N3.6 billion loan sought by Governor Aliyu Magatakarda Wamakko, describing the move as ‘outrageous’.

In a letter addressed to all commercial banks operating in the state and signed by the party Legal Adviser, Barrister Nasiru Sahabi, the party noted that, with the probability that the party in power may not

form the next administration in the state, taken steps to secure a huge loan is ill-motive on their part.

It stated that, although, the governor may have constitutional powers to seek for and obtain loan on behalf of the state, adding that ‘it was unethical and morally wrong for the administration secure a huge loan that would be left behind for another incoming administration.

The party also added that since the present administration only has less than nine months life span, it is unreasonable for such APC-led government to embark on a venture aimed at receiving a huge loan totaling N3.6 billion.

“It is in the light of this development that we as responsible stakeholders and the party in waiting to form the next government in Sokoto state, that we consider it necessary to sound this cautionary notice to you. We wish to remind you that ultimate you are answerable to your stakeholders whose best interest is hardly and seriously served by a risk, questionable loan, which a successive government will not be persuaded to agree with,” the letter read.

It could be recall that the State House of Assembly had granted the permission sought by the state governor, Alhaji Aliyu Wamakko, to seek for the loan to enable his administration complete some ongoing projects before leaving office in May 2015


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