NFIU guidelines will stop fraudulent activities in state-LG’s joint account, says NULGE

The national president, Nigerian Union of Local Government Employee (NULGE), Comrade Ibrahim Khalil, has described the recently introduced financial guidelines for Local Governments by the Nigerian Financial Intelligence Unit (NFIU) as a mechanism that will safeguard, protect and allow for transparency in the local government joint account management.

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.

“The guidelines which will start operating with effect from June 1, had provided that any bank that allows any transaction from any local government account without monies first reaching a particular local government account will be sanctioned 100%; this will ensure a total compliance to the guidelines and NULGE is optimistic that the guidelines is a right step in the right direction,” he said.

The president further stated that the NFIU guidelines would in a way revived the existence of Local Government as an independent government establishment established by law and also will restore people’s confidence at the grassroots level with a renewed political independence for effectiveness.