10 States Fail to Report Contempt Expenses to Federal Government (FG) and Central Bank of Nigeria (CBN) for Non-Compliance, Leading to Concerns Over Lack of Accountability and Transparency
A recent report has brought to light that a total of 10 states in Nigeria have failed to adhere to the regulations set by the Federal Government (FG) and the Central Bank of Nigeria (CBN) by not reporting their contempt expenses.
Raising significant concerns regarding accountability and transparency within these states.
The failure of these states to provide necessary documentation regarding contempt expenses has sparked worries among regulatory authorities,
as it hinders the overall oversight and proper management of funds allocated for these purposes.
The lack of compliance in reporting such crucial financial details not only violates established guidelines but also undermines efforts towards ensuring responsible governance and fiscal discipline at the state level.
Moving forward, it is imperative for these states to promptly address these shortcomings and uphold the necessary standards of transparency and accountability in financial reporting to safeguard the interests of the citizens and maintain trust in the governance system.
Some country governments are making plans to provoke contempt lawsuits against the federal authorities and the Central Bank of Nigeria (CBN) over their non-compliance with the ultimate courtroom docket judgment on the naira remodel policy.
Last week, the ultimate courtroom docket dictated that the antique N200, N500, and N1,000 notes stay criminally smooth until the end of 2023.
Following the judgment, a few banks had been giving the antique notes to clients, but the banks insist that clients fill out a form at the CBN portal earlier than the antique notes may be deposited.
Traders, motorists, and commercial enterprise proprietors have additionally refused to just accept the antique naira notes in anticipation of respectable approval from the CBN or President Muhammadu Buhari.
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On Friday, the governments of Kaduna, Kogi, Zamfara, Ondo, Ekiti, Katsina, Ogun, Cross River, Lagos, and Sokoto states served Abubakar Malami,
the attorney-standard of the federation, the enrolled order, and the authorized genuine copy (CTC) of the ultimate courtroom docket judgment.
Abdulhakeem Mustapha, the governor recommended for Kaduna, Kogi, and Zamfara states, stated that he predicted on the spot compliance with the judgment because the non-provider of the files had given the authorities and the CBN an escape route.
“The Attorney-General of the Federation has been served, and we are able to take it from there; if there is no compliance now,
we are able to start committal lawsuits against the attorney-general and the CBN governor,” Mustapha informed The Punch.
“When the Supreme Court talks, the charter makes it obligatory for all authority representatives and all and sundry to conform to its order.
It`s now no longer discretionary; you need to obey; it’s by far the last and very last, and this is why we’ve got separation of powers.
“The presence of separation of powers is for tests and balances; while the Supreme Court talks, it needs, to be complied with by all folks.”
The Kogi authorities have lately threatened to arrest and prosecute people and organizations for rejecting the antique naira notes.
