{"id":95235,"date":"2022-05-23T19:25:14","date_gmt":"2022-05-23T18:25:14","guid":{"rendered":"http:\/\/pointblanknews.com\/pbn\/?p=95235"},"modified":"2022-05-23T19:25:14","modified_gmt":"2022-05-23T18:25:14","slug":"governors-lose-as-court-quashes-joint-account-system-upholds-lg-financial-autonomy","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/news\/governors-lose-as-court-quashes-joint-account-system-upholds-lg-financial-autonomy\/","title":{"rendered":"Governors lose as court quashes joint account system, upholds LG financial autonomy\u00a0"},"content":{"rendered":"<div id=\"m#msg-f:1733637632242375076\" class=\"mail-message expanded\">\n<div class=\"mail-message-header spacer\" style=\"text-align: justify;\">A Federal High Court sitting in Abuja presided over by Hon. Justice Inyang Ekwo Monday delivered a judgement in favour of the Federal government and Nigerian Financial Intelligence Unit (NFIU), on Local government joint accounts nationwide.<\/div>\n<div class=\"mail-message-content collapsible zoom-normal mail-show-images \" style=\"text-align: justify;\">\n<div class=\"clear\">\n<div dir=\"auto\">\n<div dir=\"auto\">\nThe NFIU had in June 2019 issued guidelines aimed at curbing crime vulnerabilities created by cash withdrawals from local government accounts by various state governments.<\/p>\n<p>The Nigerian Governors Forum sued the FG and NFIU for interfering with state government powers to initiate transactions on Local Government Joint accounts citing provisions of the 1999 constitution.<\/p><\/div>\n<div dir=\"auto\">\nThe NFIU issued a guideline on money laundering risk and vulnerabilities advising all banks not to honour transactions from joint accounts. It directed that the States\/Local Governments Joint Accounts should used only for receiving funds and subsequently transferring them to Local government accounts only.<\/div>\n<div dir=\"auto\">\nThe guidelines also reduced cash withdrawal from local government accounts to five hundred thousand Naira daily.<\/div>\n<div dir=\"auto\">\nImmediately after the guidelines came into place, most local governments across the country stopped facing challenges in payment of staff salaries.<\/div>\n<div dir=\"auto\">\nWhile reacting to the judgement the Director\/CEO of NFIU, Mr Modibbo Tukur said the judgement is good because the Federal government is always ready to protect both states and local governments by making funds available for their governance responsibility. He stressed further that funds can now be decided on by local councils which can be channelled to improving local security.<\/div>\n<div dir=\"auto\">\nThe CEO NFIU stressed that \u201cfrom this judgement and from today all transactions on Local Government funds will be disclosed to ICPC and EFCC 100% and will be reported continuously\u201d.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"mail-message-footer spacer collapsible\" style=\"text-align: justify;\"><\/div>\n<\/div>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content --><!-- AddThis Related Posts generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>A Federal High Court sitting in Abuja presided over by Hon. Justice Inyang Ekwo Monday delivered a judgement in favour of the Federal government and Nigerian Financial Intelligence Unit (NFIU),&hellip;<!-- AddThis Advanced Settings generic via filter on wp_trim_excerpt --><!-- AddThis Share Buttons generic via filter on wp_trim_excerpt --><!-- AddThis Related Posts generic via filter on wp_trim_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":95236,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-95235","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Governors lose as court quashes joint account system, upholds LG financial autonomy\u00a0 - Pointblank News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pointblanknews.com\/pbn\/news\/governors-lose-as-court-quashes-joint-account-system-upholds-lg-financial-autonomy\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Governors lose as court quashes joint account system, upholds LG financial autonomy\u00a0 - Pointblank News\" \/>\n<meta property=\"og:description\" content=\"A Federal High Court sitting in Abuja presided over by Hon. 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