The Nigeria Senate has passed a bill to make the directive of Nigerian Financial Intelligence Unit (NFIU) become an act.
This giant strive which will lawfully guarantee financial autonomy for the local governments of Nigeria was made known by Senator Shehu Sani in his recent tweet.
Recalled that the NFIU on May 6 issued the ‘Guidelines to Reduce Vulnerabilities Created by Cash Withdrawals from Local Government Funds throughout Nigeria.’
The guideline mandates that state and local government joint accounts be operated solely as transit accounts from which funds will be distributed directly to the accounts of the local governments.
While the NFIU directive which takes effect from today, June 1, 2019 has thrown wild jubilation amongst local government administrator and staff, state governors had receive the news with bad feelings.
Consequently, the state governors have written to President Muhammadu Buhari to order its reversal and have also approached court.
The senate has therefore, passed the bill to make the NFIU directive an act.