𝗙𝗔𝗔𝗖 𝗖𝗼𝗿𝗿𝗲𝗰𝘁𝘀 𝗔𝗰𝗰𝗼𝘂𝗻𝘁𝗮𝗻𝘁 𝗚𝗲𝗻𝗲𝗿𝗮𝗹’𝘀 𝗼𝗳𝗳𝗶𝗰𝗲 𝗼𝘃𝗲𝗿 𝗶𝗻𝗰𝗹𝘂𝘀𝗶𝗼𝗻 𝗼𝗳 𝗧𝗿𝗲𝗮𝘀𝘂𝗿𝗲𝗿 𝗮𝘀 𝘀𝗶𝗴𝗻𝗮𝘁𝗼𝗿𝗶𝗲𝘀 𝘁𝗼 𝗟𝗼𝗰𝗮𝗹 𝗴𝗼𝘃𝗲𝗿𝗻𝗺𝗲𝗻𝘁 𝗮𝗰𝗰𝗼𝘂𝗻𝘁.

The Federation Account Allocation Committee at its meeting this week in Abuja chided the office of the Accountant General of the Federation for a grave error in a memo issued to the states to open local government accounts with the Central Bank of Nigeria.

The old memo, now withdrawn and replaced with a corrected one, had inserted a strange office of a treasurer which is not known to the public finance regulations of the local government system.

At the FAAC meeting, commissioners from across party lines challenged the Accountant General for such a serious error.

Reports indicated that the Accountant General accepted the error and told the meeting that the old memo has been withdrawn and that a new memo is being sent to e states.

In the new memo, the signatories are the chairman, the director of Finance or the Heads of Local Government Administrations.

The illegal position of treasure has been removed.

By implication, no local government account can be opened with the CBN in any state without inclusion of the career officers.