Algon Bot increases the alarm on CBN control of local government accounts, asks AGF to intervene

• Local government workers through the Board of Trustees of the Association of Local Governments of Nigeria have opposed to domicile their funds with CBN
• Algon Bot emphasized that the measure will expose the funds to fraudulent orders, freezing their funds
• They asked the Federation Attorney General to reject the maintenance of local government funds.

The Board of Trustees (Bot) of the Association of Local Governments of Nigeria (ALGON) has strongly opposed the recommendation that the income allocation represents the 774 areas of the local government (LGAS) of Nigeria is domiciled with the Central Bank of Nigeria (CBN).

In a letter signed by its Secretary General, Muhamoma I. Abubakar on Thursday, March 6, 2025, the Algon Bot asked the Federation Attorney (AGF) to intervene and defend the intention of Section 162 (5) (6) (7) (8) of 1999 of 1999 of 1999 ConstitutionAs modified, ensuring that local government income accounts remain under commercial banks instead of the CBN.

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Algon accuses CBN of causative hooks

The Bot warned that allowing the CBN to control these funds would create unnecessary bureaucratic obstacles and would expose local government assignments to the fraudulent orders of Guarneo of individuals and groups that claim to be creditors of Algon and local governments.

The letter, entitled “Application/Declaration of defending the intention of the cartoonist in Section 162 (5) (6) (7) (8) of the Constitution of the Federal Republic of Nigeria, 1999 (according to amended)”, was written in response to the current deliberations by a subcommittee of the Secretary of the Government of the Federation (SGF). Accounts

The bot accused CBN of constantly creating hook that interrupts the soft functioning of local government funds, particularly through the levies placed in money belonging to local governments.

He pointed out that the CBN has previously denied keeping accounts for local governments, but is now positioning itself as the only custodian of their funds.

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“If these accounts open by force with the CBN, it would create a way for individuals and groups that claim to be Creditors of Algon and local governments to exploit them and divert them freely through fraudulent orders of garnish,” he warned.

Algon Faults plans to take care of LG funds

The Algon Boot, specifically accused, lawyer Evan Enekwe, to play a main role in facilitation of fraudulent orders of garrison, which the bot says that they are unconstitutional and are designed to divert local government funds to obtain personal profits.

He cited a letter of March 5, 2025 signed by Enekwe and addressed to the presidents of the local government, in which he allegedly made a fundamental error by falsely affirming that the Supreme Court Judgment on the financial autonomy of the local government was delivered on July 11, 2025, instead of the correct date of July 11, 2024.

The Bot described this as an obvious and shameful error that exposes its lack of understanding of the governance structure of Algon and its despair by manipulating the system.

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In addition, the Bot emphasized that there is no constitutional disposition in Algon for a position known as “general director”, a title that is supposedly involved.

The only position recognized in the Constitution of Algon is that of the Secretary General, which makes his statements and actions illegitimate and misleading.

Alon asks AGF to intervene

The letter also described the sale or mortgage of an Algon asset as critical as a direct betrayal of the interests of the association, stating that it was motivated by greed and a calculated attempt to strip Algon of his valuable assets for the benefit of a few selects.

In the light of these concerns, Algon Bot asked the Federation Attorney to investigate and take decisive measures against the fraudulent orders of Garnee, the bad financial management and unconstitutional actions within Algon.

ALGON cites the ruling of the Supreme Court

By reaffirming their commitment to protect the financial independence of local governments, urge all interested parties, including local government presidents, financial institutions and regulatory bodies, to reject any directive that seeks to compromise local government funds.

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He stressed that only transparent financial practices, free of fraudulent interference, can Guarantee financial autonomy granted to local governments by the Supreme Court in its decision of July 11, 2024.

In the light of these concerns, the Bot urged the need for an interested party meeting, stating that the due consultation was not carried out before implementing the decision and there is a need for an inclusive dialogue to ensure that any action that affects the administration of the local government is aligned with the constitutional provisions and serves the best interests of the grassroots government.

CBN makes changes in ATM withdrawal limits

Legit.ng He previously informed that the new atm N100 outside the site retirement charges They have begun since March 1, 2025.

Tax by the Central Bank of Nigeria (CBN), the retirement charge will make the Nigerians and other ATM users charged 100 per transaction for using ATMs that do not belong to their banks, also known as ATMs outside the site.

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Source: legit.ng