A dedicated unit is now in place in the Office of the Accountant General of the Federation (OAGF) to handle direct disbursement of funds to the 774 local governments across the country as the planned financial autonomy for the third tier of government takes effect this month.
The first meeting of the Federation Account Allocation Committee (FAAC) for this year has been scheduled for Wednesday with operational details for direct fund allocations to the LGs expected to feature prominently, The Nation gathered yesterday.
Sources at the OAGF said the necessary structures and processes for the new dispensation were ready to ensure a seamless implementation.
“Most of the 774 LGAs will fully start receiving their allocations from January 2025.
“Our committee will reconvene later this month to review its progress and finalise measures before the Accountant-General of the Federation (AGF) issues authorisation for the complete rollout,” one of the sources said of the assignment of the Inter-Ministerial Committee set up to enforce the Supreme Court judgment on direct allocation of revenue to the councils.
