Etsako West gets #167.7million for June as Buhari commences direct allocation to Local Councils
Etsako West Local Government of Edo State has received bank credit alert of #167. 784. 309. 76 for the month of June as Direct Allocation from the Federation Account, this blog can authoritatively report.
This is in line with the administration of President Muhammadu Buhari effort to make the Local Government Councils in Nigeria viable and to tackle corruption inherent in the Joint Account being operated by the States and Local Government Councils in Nigeria.
This blog recalls that the the federal government had through the newly inaugurated Financial Intelligence Unit, NFIU, which was excised from the Economic and Financial Crimes Commission, set June 1, 2019, as the takeoff date of the new order, making it compulsory for all LGA allocations to go straight to their respective bank accounts. The decisions are contained in a guideline released by the NFIU after a lengthy meeting with officials of commercial banks in Abuja.
The notice entitled: Guidelines To Reduce Vulnerabilities Created by Cash Withdrawals from LG Funds throughout Nigeria, Effective 1st June 2019, is said to have been prompted by threats by the international financial watchdog to sanction Nigeria because of financial abuse.
This is in line with the administration of President Muhammadu Buhari effort to make the Local Government Councils in Nigeria viable and to tackle corruption inherent in the Joint Account being operated by the States and Local Government Councils in Nigeria.
This blog recalls that the the federal government had through the newly inaugurated Financial Intelligence Unit, NFIU, which was excised from the Economic and Financial Crimes Commission, set June 1, 2019, as the takeoff date of the new order, making it compulsory for all LGA allocations to go straight to their respective bank accounts. The decisions are contained in a guideline released by the NFIU after a lengthy meeting with officials of commercial banks in Abuja.
The notice entitled: Guidelines To Reduce Vulnerabilities Created by Cash Withdrawals from LG Funds throughout Nigeria, Effective 1st June 2019, is said to have been prompted by threats by the international financial watchdog to sanction Nigeria because of financial abuse.
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