Osun Assembly Passes Bills To Regulate LG Finance

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The Osun State House of Assembly has approved the Osun State Local Government Accounts Administration Bill, 2025, which seeks to guide how local government accounts are opened, managed, and operated.

According to a statement by the Chief Press Secretary to the Speaker, Olamide Tiamiyu, on Friday, the passage of the bill as a major move aimed at improving financial accountability and transparency across the state’s 30 local government areas and area councils.

He said, “regulate the opening, management, and operation of Local Government Accounts in accordance with Section 7 (1) of the 1999 Constitution of the Federal Republic of Nigeria (as amended), which empowers the State Assembly to legislate on local government finances.

“The bill seeks to enhance accountability, prevent financial misuse, and ensure strict compliance with statutory fiscal procedures at the local government level.

“Under the new framework, signatory authority on all local government accounts will now rest solely with the Directors of Finance and the Directors of Administration and General Services of the local government areas.

“The bill expressly prohibits political office holders and their appointees from serving as signatories to these accounts— a move widely viewed as an effort to eliminate undue political interference in local government finances.”

Addressing the parliament shortly after passing the bill, the Speaker of the House, Adewale Egbedun, said a clean copy of the bill would be transmitted to the Governor, Ademola Adeleke, for assent.

Egbedun noted that once signed, the legislation would promote greater financial prudence, institutional integrity, and improved service delivery in grassroots administrations.