The new guideline mandates financial institutions to distribute funds accruable to local governments among the local government councils of that state and not for other purposes.
“In addition, a provision is also made to the effect that there shall be no cash withdrawal from any local government account for a cumulative amount exceeding N500,000 per day,” the Monday statement read. He added that the NFIU guidelines would reinforce the existence of Local Government as an independent government established by the Constitution at the grassroots level with sovereign and elected officials
The Deputy Senate President, Ike Ekweremadu, urged the Senate to liaise with the NFIU to ensure that the guidelines do not contradict with any part of the Constitution.
Swapping who steal the money from one to the other has never been the problem but the TOTAL LACK OF MORAL INTEGRITY OF THE NIGERIAN! Governors can’t steal it anymore, local govt chairmen ll anyway. Nothing change!