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The Osun State House of Assembly has approved the Osun State Local Government Accounts Administration Bill, 2025.
According to a statement from Olamide Tiamiyu, the Chief Press Secretary to the Speaker of the Assembly, Adewale Egbedun, this bill represents a crucial advancement in enhancing financial governance and transparency across the state's 30 local government areas and area councils.
The statement highlighted that, “This legislation is intended to regulate the establishment, management, and operation of Local Government Accounts in line with the provisions of Section 7(1) of the 1999 Constitution of the Federal Republic of Nigeria (as amended), which grants the State Assembly the authority to legislate on Local Government finances.
“The bill aims to improve accountability, avert financial mismanagement, and guarantee strict adherence to statutory fiscal procedures at the local government level.
“Under the new structure, signatory authority for all Local Government Accounts will be exclusively held by the Directors of Finance and the Directors of Administration and General Services of the Local Government Areas.
“The bill explicitly forbids political office holders and their appointees from acting as signatories to these accounts, a measure that is widely regarded as a means to eliminate inappropriate political influence in local government finances.”
Tiamiyu also mentioned that following the bill's passage, the Speaker of the House, Adewale Egbedun, announced that a finalized copy of the bill will be sent to the Governor for approval.
“Once enacted into law, this legislation is anticipated to foster greater financial responsibility, institutional integrity, and enhanced service delivery throughout Osun State's grassroots administrations,” the statement concluded.
Frequently Asked Questions
What is the Osun State Local Government Accounts Administration Bill, 2025?
It is a legislation passed by the Osun State House of Assembly to regulate the management of Local Government Accounts, enhancing financial governance and transparency.
What are the main objectives of the bill?
The main objectives include improving accountability, preventing financial misuse, and ensuring compliance with fiscal procedures at the local government level.
Who will have signatory authority on Local Government Accounts?
Signatory authority will rest solely with the Directors of Finance and the Directors of Administration and General Services of the Local Government Areas.
Eze Chidiebere Paul
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