We did not borrow N14.26b, Zamfara Gov denies media report on new debts

*Says report about Matawalle’s administration

 By IBRAHIM KANOMA, Gusau

The Zamfara State Government has disclosed the media report saying N14.26 billion was borrowed by him as new governor of the state.

He said the sum being in the news was not by him but part of the proceeds from a N20 billion loan floated by the previous administration of Mr. Mohammed Bello Matawalle, who is currently the Minister of State for Defence in the current All Progressives Congress (APC)-led Federal Government in Abuja.

In a statement by spokesperson of the Zamfara State Governor, Sulaiman Bala Idris, copy of which was handed to The DEFENDER in Gusau on Tuesday, it was revealed that no domestic or external loans have been borrowed since Governor Dauda Lawal took office.

“We would like to clarify the Debt Management Office (DMO) report that the Zamfara State Government borrowed N14.26 billion naira.

“Zamfara State Government has never applied for loans or approached the State Assembly or National Assembly for such a request.

“It is important to note that the previous Zamfara state government floated a N20 billion bond but failed to collect the total amount.

“The immediate past government received N4 billion naira out of the 20 billion loans requested for the Zamfara cargo airport project, though the funds were not utilized.

“Upon assuming office, we discovered that the payment terms made terminating the bond impossible without incurring a significant loss for the state.

“The balance of N16 billion Naira out of the N20 billion borrowed by the past administration is the N14.26 billion captured by the Debt Management Office (DMO). The value is reduced due to inflation.

“The bond balance, which is still in a government account, has not been used and will be reserved for the airport project.”