FG Blocks Governors From Monopolising Local Government Allocations
Sets June 1, 2019 take-off date for direct allocations to 774 LGAs.
Limits daily cash withdrawal from LGA accounts at N500,000.
Any transaction above N500,000 must go via cheques/e-transfer.
Alarmed by the continuous pillage of cash allocated to local government councils across the country by the state governments through the Stat, Joint Local Government Accounts, the federal government on Monday outlawed the meddling of states into council allocations.
The federal government, through the newly inaugurated Financial Intelligence Unit, NFIU, which was excised from the Economic and Financial Crimes Commission, set June 1, 2019, as the takeoff date of the new order, making it compulsory for all LGA allocations to go straight to their respective bank accounts.