“There is no local government without at least three years of audited accounts. This is made possible due to the presence of the Auditors-General at the local government levels.
“The CBN must understand that it cannot go against a landmark Supreme Court judgment. No organisation should allow itself to be used by governors against the realisation of the autonomy for Local Governments,” Ambali stated.
He called on the Central Bank of Nigeria (CBN) to issue a clear directive outlining the requirements for opening accounts, stating, “Once the CBN provides a memo specifying their needs, local governments will promptly comply.”
This caution comes in response to reports that local governments are facing difficulties in accessing their statutory allocations, as the CBN has allegedly declined to open accounts for them, citing the non-submission of two years’ worth of audited financial reports.
Amid concerns that the CBN’s stance is hindering the full implementation of the Supreme Court ruling, NULGE has urged the apex bank to resist any efforts by state governors to obstruct the process.
Comments are closed, but trackbacks and pingbacks are open.