LG autonomy: NLC commends Buhari on NFIU intervention

…Congratulates CBN Governor on reappointment

Ukpono Ukpong, Abuja

The Nigeria Labour Congress (NLC) has commended President Muhamadu Buhari, on the recent feat achieved with and through the new financial regulations on the management of states Local Government Joint Accounts by the Nigeria Financial Intelligence Unit (NFIU).

NLC President, Ayuba Wabba, in a letter addressed to President Buhari also commended him for assenting to the national minimum wage (Amendment) Act 2019.

He said “we are really impressed and excited by the achievements of your administration in terms of financial regulations reform.

“First, your government pursued the institutionalization of the Nigeria Financial Intelligence Unit by an Act of the National Assembly in 2018 thus fully excising the NFIU from the Economic and Financial Crimes Commission and thereby satisfying international financial standards and saving Nigeria from international isolation with its attendant consequences on our economy by Egmont Group – the global body that oversees and coordinates global financial transactions.”

He noted that due to President Buhari’s interest and insistence on the institutionalization of financial surveillance system in Nigeria, the country has not only been accorded its deserved place in the good books of Egmont but also acquired a new impetus in the famed fight against official corruption.

“The NFIU’s recent financial regulations moderating the management of the States Local Governments Joint accounts, therefore, did not come to us as a surprise. For us in the labour movement, it is a further confirmation of Your Excellency’s avowed stance against graft and injustice.

“We believe that the new NFIU’s regulations, though insufficient by themselves, will go a long way in addressing the mindless mismanagement of local government funds by many state governors.

The mismanagement of local council funds by many state governors has stalled development at the grassroots, impoverished workers at the local level and aggravated the crises of insecurity in our country.

“Mr. President may recall that the Nigeria Labour Congress and its affiliates particularly the Nigeria Union of Local Government Employees (NULGE) and the Judiciary Staff Union of Nigeria (JUSUN) have been in the fore front of the campaign for local government reform.

“Our idea on local government reform is the granting of full autonomy and complete democratization of the third tier of government in Nigeria to function as intended by Section 7,8, 162 and the Fourth Schedule of the 1999 Constitution of the Federal Republic of Nigeria as amended.” Said Wabba

Furthermore, expressed optimism that the current NFIU’s financial regulations on the operation of local government account is only the first of several steps that would be directed at liberating the local government system to deliver on its mandate of inclusive governance and grassroots development.

In a similar development, the NLC also congratulated the Governor of the Central Bank of Nigeria, Godwin Emiefiele, on his recent reappointment for another term of five years thus becoming one of the few Central Bank Governors that has recorded such a feat.

The Congress, in a letter of congratulations sent the CBN Governor urged him to use the opportunity to re-dedicate himself to the task of consolidating the recovery of the Nation’s economy from recession and improving on the economic growth recorded in recent times.

“On behalf of my family and the Nigeria Labour Congress, I wish to congratulate you on the recent renewal of your appointment as the Governor of the Central Bank of Nigeria for another term of five years thus becoming one of the few Central Bank Governors that has recorded such a feat.

“There is no gainsaying the fact that your appointment is a testament to your commitment to excellent service delivery and has come at a very auspicious time in our national life.

“Given the critical place of the CBN as the premier financial and economic regulator in our country, we implore you to use the opportunity of your re-appointment to re-dedicate yourself to the task of consolidating the recovery of our economy from recession and improving on the economic growth recorded in recent times.

“While we wish you a very rewarding second term in office, please accept the renewed assurances of our highest esteem.” The letter read.