From Juliana Taiwo-Obalonye, Abuja
A Federal High Court sitting in Abuja presided over by Hon. Justice Inyang Ekwo Monday delivered a judgement in favour of the Federal government and Nigerian Financial Intelligence Unit (NFIU), on Local government joint accounts nationwide.
While reacting to the judgement the Director/CEO of NFIU, Modibbo Tukur said the judgement is good because the Federal government is always ready to protect both states and local governments by making funds available for their governance responsibility.
According to a statement by
Chief Media Analyst, Ahmed Dikko, NFIU boss stressed that “from this judgement and from today all transactions on Local Government funds will be disclosed to ICPC and EFCC 100 percent and will be reported continuously”.
He stressed further that funds can now be decided on by local councils which can be channelled to improving local security.
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The Nigerian Governors Forum (NGF) has sued the FG and NFIU for interfering with state government powers to initiate transactions on Local Government Joint accounts citing provisions of the 1999 constitution.
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The NFIU issued a guideline on money laundering risk and vulnerabilities advising all banks not to honour transactions from joint accounts. It directed that the States/Local Governments Joint Accounts should used only for receiving funds and subsequently transferring them to Local government accounts only.