SERAP DEMANDS CBN REVEAL LOCAL GOVT FUND PAYMENTS
The Socio-Economic Rights and Accountability Project (SERAP) has asked Central Bank Governor Olayemi Cardoso to publicly confirm whether the bank has started directly disbursing federal allocations to Nigeria’s 774 local government councils, in line with a Supreme Court ruling issued in July 2024.
In a formal Freedom of Information request, SERAP emphasized that direct disbursement is now a legal mandate following the court’s declaration that only democratically elected councils are eligible to receive allocations from the Federation Account. The organization warned that ongoing diversion of funds by state governments threatens the constitutional viability of local governance.
Referencing recent comments by former President Buhari—who decried widespread fraud in local council finances—SERAP urged the CBN to enforce transparency and prevent the erosion of grassroots institutions. The group also demanded full disclosure of any such payments made, especially in Rivers State, where tensions remain high between local and state leadership.
If the CBN fails to respond within seven days, SERAP said it would initiate legal proceedings to compel compliance. “Disbursing to states undermines the rule of law and exacerbates poverty,” the organization argued, adding that restoring the financial independence of local councils is critical ahead of the 2027 elections.
