The Senate Wednesday adopted a motion asking relevant stakeholders including state Houses of Assembly and the presidency to expedite action on financial autonomy for all the 774 Local Government Councils in the country, frowning on alleged mismanagement of state/local government joint accounts by state governors.
Supporting the moves by NFIU, the Senate said the guidelines limit cash transactions in the accounts of local governments to a daily maximum of N500,000 and subsequent withdrawal must be approved by approved cheques or electronic payment channels to promote registered transactions by all the local governments.
Ekweremadu however cautioned that the position of the Senate that financial institutions should support the implementation of the new guidelines, contravenes Section 162 of the 1999 Constitution as amended. “The Senate further agrees that the NFlU guidelines do not serve any purpose other than freeing the Financial System from being flooded with cash which criminals use to escape transparency, accountability, and criminal investigation,” he said.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Senate Moves To Make LG Autonomy MandatoryThe Senate yesterday adopted a motion demanding some stakeholders like State Houses of Assembly and the Presidency to expedite action on granting financial autonomy to local government councils across the country. The Senate also accused state governors of mismanaging the state/local government joint accounts. The Senate’s resolution followed a motion sponsored by Senator Aliyu Sabi […]
Source: LeadershipNGA - 🏆 4. / 77 Read more »
I never imagined I’d be in politics – Sen. Lawan – Daily TrustSenate Leader Ahmad Lawan, a major contender for the office of Senate President in the incoming 9th Senate in this interview bares his mind on the contest, what he has to offer, and other issues. Excerpts: Daily Trust: How does it feel, coming from a tough general election, to face another tough battle for Senate … Even me. I never imagined I will be a Nigerian. Then step down for those that have been planning best for our country😎 Really? What other job out there can you or any other Nigerian politician fit in?
Source: Daily Trust - 🏆 13. / 51 Read more »
After Daily Trust investigation, Senate probes state of teaching hospitalsThe Senate, on Wednesday, resolved to probe the poor state of the Nigerian teaching hospitals following an investigative story published...
Source: Daily Trust - 🏆 13. / 51 Read more »
Senate probes state of teaching hospitals – Daily TrustThe Senate yesterday mandated one of its committees to probe the poor state of the Nigerian teaching hospitals following an investigative story published by the Daily Trust on Monday. Daily Trust lead story revealed the poor quality and high cost of services in Nigerian teaching hospitals where there is widespread of poor electricity supply, obsolete …
Source: Daily Trust - 🏆 13. / 51 Read more »
Senate To Grill Adewole Over Poor State Of HealthcareThe Senate yesterday invited the Minister of health, Prof Isaac Adewole for a briefing over the state of medical and teaching hospitals in the country. The invitation followed worrying reports that Nigerians go through difficult times in the hospitals. The lamakers also resolved to investigate what they described as deteriorating state of the teaching hospitals […] MBuhari should stop going to UK for medical check-ups. Until then, status quo remain
Source: LeadershipNGA - 🏆 4. / 77 Read more »
Bauchi federal lawmakers state position on next Senate President, Reps Speaker - Daily Post NigeriaThree senators-elect and eight House of Representatives members-elect from Bauchi State have agreed to support Sen. Ahmad Lawan for the Senate presidency a
Source: DailyPostNGR - 🏆 11. / 59 Read more »
Dep. Senate President: Delta, Edo APC in Diaspora endorse Omo-AgegeAs the 9th senate assembly moves towards electing new officers to pilot the affairs of the Red Chambers, members of the All Progressive... A man who brought thugs to the senate? Wonders shall never end! nassnigeria Mace arrangers in OfficialAPCNg wants to be keepers of mace . OfficialPDPNig se una dey hear. Apc wonder hmm akaebube se u dey see No. Bad influence.
Source: TheNationNews - 🏆 6. / 69 Read more »
Senate confirms ex-CBN deputy gov. as FERMA chairman - Premium Times NigeriaPresident Buhari had earlier written to the Senate seeking confirmation of the nominees. Is it not d guy accused of corruption back then.
Source: PremiumTimesng - 🏆 3. / 78 Read more »
Nobody can impose Senate President, says NdumeOne of the front line contenders for the office of the Senate Presidency, Senator Ali Ndume, on Wednesday declared that there is no provision WHY'S HE NERVOUS?
Source: TheNationNews - 🏆 6. / 69 Read more »
S’ South APC chairmen endorse Omo-Agege for Deputy Senate PresidentThe six state chairmen of the All Progressives Congress (APC) from the south-south zone have endorsed Sen. Ovie Omo-Agege for the position of... WAOW THE MACE SNATCHER.... HA HA HA HA HA HA
Source: TheNationNews - 🏆 6. / 69 Read more »
How I avoided 'banana peels' for eight years as Senate President - David Mark - Daily Post NigeriaThe immediate past President of the Nigerian Senate, Senator David Mark, has revealed how he ran the affairs of the Senate successfully for eight uninterru
Source: DailyPostNGR - 🏆 11. / 59 Read more »