The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun has disclosed that there are certain undisclosed impediments to direct payment to the local governments following the recent ruling by the Supreme Court.
The apex court had ruled that federal allocations to the local councils should be directly paid to them as against the extant structure of paying into state/local government joint accounts in the 36 states of the federation.
According to ThisDay Newspaper, the minister did not give details on the impediments, he also disclosed that the federal government would float the much advertised $500 million bond for Nigerians in the Diaspora in the next four weeks.
However, Oyo State Governor, Seyi Makinde has been vilified by social media critics when he said the judgement was a distraction from the real issues.
The Governor raised few issues that the judgement didn’t address.
Details later …
