Anietie Udobit, Abuja
All the 774 local government councils have been advised to open dedicated accounts with the Central Bank of Nigeria.
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This was disclosed by the national president of the Association of Local Governments (ALGON), Bello Yandaki, on Sunday, January 19, 2025.
Yandaki said that following the ruling of the Supreme Court affirming the autonomy of the councils, it has become critical for the 774 LGs to have a dedicated account with the apex bank.
He said the new accounts from the councils will help in the effective implementation of the decision of the Supreme Court on LG autonomy.
He also assured citizens that the funds released to the council chairmen would be monitored by the Nigerian Financial Intelligence Unit (NFIU).
He also urged the public to disregard reports of delayed disbursement of funds to various councils across the nation.
He said, “The CBN is presently awaiting directives from the Federal Government to open local government accounts for the respective states, which can be done between 24 and 48 hours for each.
“I am a member of the sub-committee that was set up to trash out contentious grey areas, and we have already met relevant stakeholders, including labour unions, local government chairmen, NULGE, and so on,” Yandaki said.