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Exposed: Namadi Sambo’s $78.5million Loan For White Elephant Projects [Documents Included]

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The nefarious activities of the former governor of Kaduna State, Arhitect Namadi Sambo have begun to leak into the public arena. Information available to 247ureports.com indicate that the former governor – who is presently serving as the Vice President of Nigeria – may have mortgaged the State of Kaduna to the tune of $78.5million.

On September 9 2009 and September 11, 2009, the then governor in tandem with his then Commissioner of Finance, Ramalan Yero [present governor of Kaduna] wrote to the Islamic Development Bank for a loan for the completion of a water treatment for the amount of $$57.4million – and another loan for $21.1million for technical  assistance. The application for the two loans were filed two days apart.

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The loan for $21.1million was applied on September 11, 2009 while the $57.4million was filed on September 9, 2009. The monies were approved and released to the then Governor, Namadi Sambo.

What appears interesting is that both reasons offered for the loan remain unaddressed. The water treatment plant remains abandoned.

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