10 states report non-compliance expenses to FG and CBN.

Date:

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

Latest Post

Afrobeat Revolutionized Global Music—Amzy B.
Presidential Poll: June 12, 1993, Saga Won`T Repeat Itself — Presidency
Presidential Election: Why I`M In My View Heading To Appeal Court, Peter Obi
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.

Abasiama Peter
Abasiama Peterhttps://viztadaily.com
I'm Abasiama Peter, from Nigeria. I'm a blogger and YouTuber. I love teaching, and I want people to learn from the experience that I gather. At Viztadaily, we believe in the power of information to inspire and inform. Our team of passionate writers and analysts work diligently to provide you with accurate reporting and engaging stories that matter to you. Whether you're looking for breaking news, in-depth analysis, or lifestyle tips, Vizta Daily is your go-to destination. You'd do well to leave a comment and subscribe to our newsletter to get free updates on all our posts.

14 COMMENTS

  1. What’s up, future millionaires? Charles here, your captain on this journey to the treasure island of affiliate marketing. Ever dreamt of earning $1,000 a day without breaking a sweat? Well, pinch yourself, since you’re not dreaming! Get your eye patch and your sense of adventure, and let’s cruise the high seas of opportunity. All aboard the profit ship!

  2. Hey! I’m Charles, and if you’re tired of the 9-to-5 grind and believe workplace coffee tastes like anguish, I’ve got great news for you. Invite to the 1K a Day System, where we switch coffee for capital and desks for financial independence. Are you all set to trade in your tie for a ticket to freedom? Let’s turbocharge your earnings and have some enjoyable along the way!

  3. Hello there! I could have sworn I’ve been to this blog before but after looking at some of the articles I realized it’s new to me. Nonetheless, I’m certainly pleased I discovered it and I’ll be book-marking it and checking back regularly.

Comments are closed.

Share post:

Trending Now

Subscribe

More like this
Related

President Tinubu promised key economic reforms under #EndBadGovernance.

All kids who have been arrested or imprisoned in...

How Moniepoint $110 Million Funding Round Changed the Game for Fintech Unicorns

The Nigerian fintech company Moniepoint has become a 'unicorn'...

Kcee vs Flavour: The Truth Behind the Rivalry

Nigerian musician Kingsley Chinweike Okonkwo, who is popularly recognized...

A Beacon of Hope: Saudi Arabia Commitment to Sahel and Lake Chad Development

In a remarkable display of compassion, Saudi Arabia recently...

Dating in the Digital Age: How to Make Your Profile Stand Out

Dating is a journey that continues to evolve with...

How Google’s New AI Cybersecurity Program Is a Game Changer!

Google has unveiled its AI for Cybersecurity program, a...

Timaya’s Surprising Collab Picks: Find Out Who Impressed Him

Timaya has collaborated with numerous Nigerian artists throughout his...

Top Dating Tips That Will Change Your Love Life

Navigating the world of dating can be both exciting...