BREAKING! Alex Otti, Douye Diri, Sanwo-Olu, Uba Sani, Soludo, 31 Other Governors Lose Out As Supreme Court Orders FG To Remit LG Allocations Directly to LGA Accounts

The New Diplomat
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Sad! Senator Dies in Abuja Hospital While Raising Funds for Treatment

By Abiola Olawale Former Senator Ibrahim Musa Kontagora, who represented Niger North Senatorial District of Niger State at the Senate from 2011 to 2015, has passed away in an Abuja hospital on Thursday. Reports indicate that Senator Kontagora passed away after a Hospital in Abuja allegedly delayed a critical surgery due to an unpaid $15,000…

Why Oil Prices May Be Stuck Below $72

Kuwait expects oil prices to remain below $72 per barrel in the near term, Tareq Al-Roumi, the Oil Minister of one of OPEC’s top producers, said on Thursday. Brent crude prices were trading at around $67 per barrel early on Thursday. Kuwait, as well as OPEC, are monitoring the market and all statements coming from…

The 20 Largest Cryptocurrencies by Market Cap

Bitcoin remains the largest cryptocurrency with a $2.36 trillion market capitalization, more than 5x larger than the next largest cryptocurrency, Ethereum. Layer 1 tokens and stablecoins dominate the rest of the top 10 largest cryptocurrencies, however, memecoin Dogecoin still ranks ninth with a $37 billion market cap. Cryptocurrencies are among the most volatile and innovative…

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  • Says It’s Unconstitutional For Govs To Hold LG Funds

By Abiola Olawale

The Supreme Court has granted an order compelling the Federal Government to start paying monthly allocations meant for Local Governments, directly to their respective designated accounts.

The apex court ruled that the democratically elected chairmen of the 774 local government areas in the country should be receiving their allocations henceforth.

The Supreme Court, on Thursday, also held that it is unconstitutional for state governors to hold onto funds meant for Local Government administrations.

In its lead judgement read by Justice Emmanuel Agim, the apex court observed that the refusal of the state government on financial autonomy for local governments has gone on for over two decades.

He said local governments have since stopped receiving the money meant for them from the state governors who act in their stead.

The New Diplomat reports that the judgment was delivered on a suit filed by the Attorney-General of the Federation (AGF), Lateef Fagbemi, SAN.

In the suit, the Federal Government sought an order preventing the governors from arbitrarily dissolving democratically elected councils. The suit by the AGF was on 27 grounds.

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