In a significant development, the Association of Local Governments of Nigeria (ALGON) has directed all 774 local governments to establish dedicated accounts with the Central Bank of Nigeria (CBN).
This move is aimed at facilitating the direct distribution of allocations from the Federation Account, in line with the Supreme Court’s decision. The CBN is awaiting guidance from the Federal Government to open these accounts, which is expected to be completed within 24 to 48 hours for each local government.
According to ALGON National President, Bello Lawal Yandaki, this initiative will ensure transparency and accountability in the utilization of funds. The direct allocation of funds to local governments is expected to commence this January.
*What this means for our community:*
– More control over local funds and decision-making
– Increased transparency and accountability in fund utilization
– Potential for improved infrastructure and service delivery
