Posted by News Express | 25 May 2019 | 703 times
The stage appears set for an inevitable collision between state governors and the Federal Government over the monthly allocation from the Federation Account to the country’s third tier of government.
Many state governments have practically taken over the management of local government funds by superintending over the disbursement of same. While some states take over the payment of local government employees as well as the handling of projects, some hide under “statutory deductions” to deny councils of their allocations.
Lately, however, the Nigeria Financial Intelligence Unit (NFIU) has been vociferous in its warning to state governments over the diversion and misappropriation of local government funds, and has vowed that starting from June 1, 2019, any financial institution, public servant and other stakeholders implicated in the diversion of local government funds would be severely sanctioned. (Nigerian Tribune)
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