The Management of the Central Bank of Nigeria (CBN) has said contrary to a reported conversation which indicated that there was a fraudulent transaction which led to missing money, is false and malicious. The CBN reaction followed a notification of a purported audio recording of selective conversations amongst the Governor, Deputy Governor and some Senior…
Governors may lose control of local government funds from the Federation Account, going by the new Nigerian Financial Intelligence Unit (NFIU) guidelines. The Joint Account System in place in most states will only exist for the receipt of allocations but not disbursement, according to the guidelines. Besides, each of the 774 local government areas may…
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