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The Socio-Economic and Accountability Project (SERAP) has urged the Governor of the Nigerian Central Bank (CBN), Mr. Olayemi Cardoso to “immediately reveal whether the bank has begun direct disbursement from the allocation of 774 regional councils in Nigeria from the Federation Account with CBN and to broad publications.
Absorbing also urged Mr. Cardoso to “immediately reveal whether direct payments have been made from a federation account with CBN to the Regional Government Council in the State of Rivers and explain the reasons for the payment.”
The Supreme Court last July stated that there were no governors or other institutions who had the power to maintain, control, or disburse in any way the allocation of the federation account was intended for the Regional Government Council, and that such an allocation had to be paid directly to the democratic selected council.
In a request for freedom of information dated May 10, 2025 and signed by Deputy Director of Collawole Oluwadaree, the organization said: “CBN must act for the public interest to ensure that 774 councils in the country directly get their own allocation from the federation account, as ordered by the Supreme Court.”
Serap said, “CBN has constitutional and legal obligations to protect the allocation in the Federation and Public Funds accounts that are disbursed from the account directly to each of the three levels of government that are constitutionally recognized.”
According to Serap, “CBN also has constitutional and legal duties to ensure that there is no part of the federation that is regulated in conflict with the Nigerian constitution or by anyone who is not constitutionally empowered to do so.”
The letter was read in part: “The Governor of State Humings of the Regional Government and Funds and put it in danger, regardless of the binding Supreme Court orders. The Bright State Governor ignoring the Supreme Court’s orders weaken the integrity of the court and caused direct challenges to the rule of law.”
“CBN must facilitate compliance with the Supreme Court’s orders. If the Governor of the State passes by ignoring the court, it will damage the bank’s ability to crediblely carry out constitutional duties and laws.”
“Ensuring that all restrictions on direct disbursement of the allocation of the 774 federation account will comply with orders by the Supreme Court and stop the state and territory of the Federal Capital City from damaging the allocation ahead of the 2027 General Election.”
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“We will be grateful if the recommended steps are taken within 7 days of receipt and/or the publication of this letter. If we have not heard of news from you at that time, absorbing will take all the right legal actions to force you and CBN to comply with our requests for the public interest.”
“It is absorbed that the state and FCT continue to damage and endanger the existence of local governments and their ability to effectively function as the third level of government as imagined based on the 1999 Nigerian Constitution [as amended]. “
“CBN also has constitutional and legal obligations to protect the level of any federal governance structure so as not to be extinct or destroyed.”
“The Regional Government Council is the legitimate owner of their allocation from the federation account.”
“The state and FCT no longer have the right to maintain an allocation for local governments in the federation account because they constantly fail to use allocation for the benefit of the Regional Government and Nigerian councils.”
“Disbursement of allocations intended for 774 councils to states will sacrifice the poor of Nigeria and continue to damage their rights and welfare at the bottom of the economy and worsen increased poverty in the country.”
“CBN can play an important role in revitalizing the 774 council in the country and increasing opportunities for Nigerians who live in the councils. CBN may not allow the state to violate the Supreme Court’s decision and do whatever they like with public funds intended for the Regional Government Council.”
“CBN has the responsibility to comply with the Nigerian constitution and the country’s international human rights and anti -corruption obligations in the implementation of their strengths and functions.”
“The Regional Government Council is entitled to payment directly from the federation account from the amount established for its credit in the federation account. Countries may not collect, accept, spend or damage the Regional Government Council funds from the federation account intended for the benefit of the council.”
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