Former Deputy Governor of the Central Bank of Nigeria, CBN, Kingsley Moghalu has hailed the Supreme Court judgment on Local Government financial autonomy in the country.
Reacting to the judgement on Thursday, Moghalu stated that the judgment would reduce the reign of state governors as emperors.
The former Deputy Governor of CBN, described the Supreme Court judgment as a correct verdict. He stressed that Local Government should be encouraged if Nigeria expects development.
Moghalu made this disclosure via a series of posts on his X (Twitter) page.
He wrote, “The @SupremeCourtNg decision in favour of full autonomy (including direct financial allocation to LGs without passing through State Governors) is a correct one that accords with the Constitution of Nigeria in its present form.
“Local Governments and local governance (and their accountability!) should be encouraged if we are to have any hope of development, and will become the next battleground. But it will empower the citizens of Nigeria in the context of democratic governance. And reduce the reign of State Governors as “emperors”.
“All of this, however, does not address the core issues of federalism. Which in general, means two levels of sovereignty- central and sub-national. With sub-nationals (states or regions) creating local governments. Our “Third Tier” LGAs were created by fiat via military decree!
“India is the only major Federal State I know. Where LGs are a constitutional third tier of government.
“These issues should be addressed in an organized national dialogue and negotiations on a new constitution for Nigeria,” Moghalu stated.
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