Speaking to newsmen in Kano, the NULGE President revealed that the guideline issued will prevent state governments from making withdrawals from local governments’ funds and mandates financial institutions to distribute funds accruable to local governments among the local government councils of that state and not for other purposes.
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LGs can’t withdraw more than N.5m cash daily from June – NFIUis that not suppose to be the headline . It is a welcome development, but hope we can have the implementation to be effective. this will strike the beginning of LG autonomy from the hands of the Governors How i wish they don't abuse this great opportunity and their workers don't fall victims of unpaid salaries and allowances.
Source: MobilePunch - 🏆 8. / 63 Read more »
LGs and the NFIU threat – Daily TrustThe threat issued by the Nigeria Financial Intelligent Unit (NFIU) that any commercial bank that allows transaction from any local government account without the monthly allocation first reaching their account will be sanctioned and that the transaction per day should not exceed ₦500,000, is a welcome development. It is imperative that the government had good … please whoever write this piece should go back to law school section 162(5) the law said the money will be allocated to state for the use of the lg it did not say it should be given to state govt
Source: Daily Trust - 🏆 13. / 51 Read more »
Senate asks states to support NFIU guidelines on LGs – Daily TrustThe Senate has urged the 36 state governments to fully support the implementation of the new guidelines by the Nigerian Financial Intelligence Unit (NFIU) to promote good governance at the local government level. The Senate also urged the NFIU and all financial institutions to support the implementation of the new guidelines with diligence and professionalism.ADVERTISEMENT …
Source: Daily Trust - 🏆 13. / 51 Read more »
NFIU bars direct transactions from state joint local government accounts – Daily TrustThe Nigerian Financial Intelligence Unit (NFIU) has barred banks from allowing transactions from State Joint Local Government Accounts... Good move, State governments are likely to challenge this Finally, Lagos shall be liberated If NGRSenate thought that they have crippled officialEFCC to some extent from carrying out its statutory functions by taking away the NFIU from its grip, now we can see that GOD Has opened up another blissful window. But if that's the intent, I then can say KUDOS to them.
Source: Daily Trust - 🏆 13. / 51 Read more »
NFIU threatens to sanction banks over illegal withdrawals from LG funds - Premium Times NigeriaNigerian Financial Intelligence Unit (NFIU) has issued guidelines to stimulate the reduction of crime vulnerabilities created by cash withdrawals from local government funds across the country. NFIU will have to be more proactive than ever. Phase two of war against corruption has been kickstarted. Expect corruption to fight back, even if it will require the review or amendment of the provisions of Constitution of the Federal Republic of Nigeria.
Source: PremiumTimesng - 🏆 3. / 78 Read more »
NFIU: Governors may lose control of local government funds - The Nation NewspaperGovernors may lose control of local government funds from the Federation Account, going by the new Nigerian Financial Intelligence Unit (NFIU) guidelines. The Joint Account System in place in most states will only exist for the receipt of allocations but not disbursement, according to the guidelines. Besides, each of the 774 local government areas may … It would have been done since yesterday.
Source: TheNationNews - 🏆 6. / 69 Read more »
NFIU moves to bar govs from access to LG funds – Daily TrustThe Nigerian Financial Intelligence Unit (NFIU) has barred banks from allowing transactions from State Joint Local Government Accounts (SJLGAs) without monies first reaching a particular local government account. Daily Trust reports that this bar governors access to LG funds as currently obtained in most states.ADVERTISEMENT A statement issued in Abuja yesterday by the Acting Chief …
Source: Daily Trust - 🏆 13. / 51 Read more »
Implement new NFIU guidelines now, Senate urges 36 states govts, FCT – Daily TrustThe Senate, on Wednesday, urged the 36 states governments and Federal Capital Territory (FCT) to fully implement the new Nigerian Financial Intelligence Unit (NFIU)’s guidelines for the promotion of good governance at the grassroots levels. It also called on all financial institutions to support the implementation of the guidelines of the NFIU with diligence and …
Source: Daily Trust - 🏆 13. / 51 Read more »
Senate approves inclusion of NFIU in Proceeds of Crime Recovery Management's board - Daily Post NigeriaThe Nigerian Senate on Wednesday approved the inclusion of the National Financial Intelligence Unit (NFIU) to serve on the governing board of the Proceed o
Source: DailyPostNGR - 🏆 11. / 59 Read more »
WAEC candidate shot dead as gunmen kidnap Abia NULGE LG bossThe Isiala Ngwa North, Nigeria Union of Local Government Employees (NULGE) chairman, Comrade Wachukwu Okechukwu, has been reportedly kidnapped by gunmen. May God protect his people. We have myriad of problems in Abia, the govt lacks capacity, how can we cope?
Source: TheNationNews - 🏆 6. / 69 Read more »
YouTubesunrisedailynow Control is good but the half a million naira daily ceiling is too small if you don't want to wreck LGs administration in Nigeria...
Source: channelstv - 🏆 7. / 63 Read more »