The Nigerian Financial Intelligence Unit has restated its warning to banks to ensure that local government funds are not tampered with.
“The amount standing to the credit of local government councils of a state shall be distributed among the local government councils of that state and not for the other purposes. Although revenues for states and local governments are clearly distinguished when distributed in Abuja, most states currently operate joint accounts with their local governments. However, many state governments take full control of the accounts and only give what they like to the local governments.
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