In a bid to stop the wanton diversion of local government allocations by state governments under the guise of a joint account, the federal government through the Nigerian Financial Intelligence Unit, (NFIU) has revealed it's not rescinding its earlier decision of June 1st as take-off date.
The agency in a statement on Wednesday noted that it earlier decision remain sacrosanct, opining that all allocations to LGAs in the country must hit their accounts directly and any payment above N500,000 must be done via cheques or electronic transfer.
The agency asserted that any view being expressed on the legality of the new directive by any institution, groups or individuals was of no effect, as the law had empowered the agency to ensure that local government allocations get to them.
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