The Federal Government has clarified why the Central Bank of Nigeria (CBN) has not commenced the direct release of funds to the country\u2019s 774 local government areas (LGAs), despite a Supreme Court ruling granting them fiscal autonomy.<\/p>\n\n\n\n
At a national discourse on local government autonomy organized by the Nigerian Bar Association (NBA), Attorney-General of the Federation (AGF) Lateef Fagbemi, represented by Tijjani Gazali, SAN, said the delay was due to ongoing efforts to establish a framework for implementation.<\/p>\n\n\n\n
An inter-agency committee comprising representatives from the Federal Government, the Association of Local Governments of Nigeria (ALGON), and the Nigerian Governors Forum (NGF) has been working on modalities for direct allocation payments.<\/p>\n\n\n\n
The AGF also condemned state governors for defying the Supreme Court\u2019s ruling by dissolving elected local government councils and replacing them with appointed officials. He warned that continued disobedience to the judgment would have serious consequences.<\/p>\n\n\n\n
Meanwhile, CBN\u2019s Director of Legal Services, Kofo Salam-Alade, explained that the bank had no direct banking relationship with LGAs and was currently profiling authorized signatories for the respective accounts.<\/p>\n\n\n\n
\u201cThis is part of standard Know Your Customer (KYC) procedures. Once documentation is completed, local governments will begin receiving their allocations directly,\u201d he said.<\/p>\n\n\n\n
The government has urged local government officials to comply with the verification process to facilitate the smooth implementation of fiscal autonomy.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Federal Government has clarified why the Central Bank of Nigeria (CBN) has not commenced the direct release of funds to the country\u2019s 774 local government areas (LGAs), despite a Supreme Court ruling granting them fiscal autonomy. At a national discourse on local government autonomy organized by the Nigerian Bar Association (NBA), Attorney-General of the…<\/p>\n","protected":false},"author":2,"featured_media":1479,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"pagelayer_contact_templates":[],"_pagelayer_content":"","sfsi_plus_gutenberg_text_before_share":"","sfsi_plus_gutenberg_show_text_before_share":"","sfsi_plus_gutenberg_icon_type":"","sfsi_plus_gutenberg_icon_alignemt":"","sfsi_plus_gutenburg_max_per_row":"","footnotes":""},"categories":[1,38],"tags":[443,440,444,441],"class_list":["post-1470","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-news","tag-cbn","tag-fg","tag-fiscal-autonomy","tag-lga"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t