The seven hundred and seventy-four Local Governments Councils are to open dedicated accounts with the Central Bank of Nigeria for direct disbursement of allocations from the Federation Account.
National President, Association of Local Governments (ALGON), Bello Lawal Yandaki said the opening of the account is critical to the implementation of the Supreme Court ruling on direct allocations to the councils.
Lawal Yandaki however, said the apex bank is waiting for the Federal Government’s directive on the opening of the accounts.
He further explained that the Nigerian Financial Intelligence Unit is to monitor the utilization of the funds by the chairmen in conformity with the principles of transparency, accountability and good governance.
Yandaki who allayed fears over the delay in the disbursement of funds to the councils, attributed the delay to the failure of councils to submit necessary bank details to the Federation Accounts and Allocations Committee required for facilitating the payments.