Nigerian Financial Intelligence Unit, NFIU

The Nigerian Financial Intelligence Unit, NFIU has banned Governors from accessing funds meant for local governments.

NFIU says it has decided to uphold the full provisions of Section 162 of the 1999 Constitution by ensuring that “State Joint Local Government Account shall be paid in, allocations to the local government councils of the state from the Federation Account and from the government of the state.

Acting Chief Media Analyst of NFIU, Ahmed Dikko in a statement said that the enforcement of the guidelines issued based on the constitutional provision, is necessary to stimulate the reduction of crime vulnerabilities created by cash withdrawals from local government funds across the country.

He said with effect from June 1st, any bank that allows any transaction from any local government account without monies first reaching a particular local government account will be sanctioned one hundred  per cent, locally and internationally.