President Muhammadu Buhari says he has signed an executive order for the implementation of financial autonomy of state legislature and judiciary in the country.
Buhari in tweet on Friday evening said he hoped that the new regulations will ensure good governance and deepen democratic values.
“Based on the power vested in me under Section 5 of the 1999 Constitution (as Amended), I, today, signed into law Executive Order No. 10 of 2020 for the implementation of Financial Autonomy of State Legislature and State Judiciary.
“This administration will continue to do everything to strengthen the principles and practice of democracy and democratic governance in Nigeria”, he said.
The Precision NG gathered that based on this order, where any State of the Federation fails to release allocations meant for the State Legislature and State Judiciary, the Accountant-General of the Federation shall authorise deduction of the money from source (Federation Acct Allocation) in line with the financial autonomy guaranteed by Section 121(3) of the Constitution of the Federal Republic of Nigeria 1999 (as Amended).