The Osun State House of Assembly has approved a new law to regulate how local government bank accounts are opened and managed. The bill aims to improve financial transparency and ensure better control of public funds in all 30 local government areas and area councils.

According to a statement from the Chief Press Secretary to the Speaker, Olamide Tiamiyu, the law is based on the 1999 Constitution, which gives state assemblies the power to make rules on local government finances. The bill is designed to boost accountability, stop financial misuse, and enforce strict financial procedures at the grassroots level.

Under the new rules, only the Directors of Finance and the Directors of Administration and General Services in each council will be allowed to sign and operate local government accounts. Political officeholders and their appointees are banned from being signatories, a move aimed at preventing political influence over council funds.

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Speaker Adewale Egbedun said the approved bill will soon be sent to Governor Ademola Adeleke for assent, explaining that once it becomes law, it will help promote financial discipline, strengthen institutions, and improve service delivery across local governments.

Earlier, the Assembly also passed the Islamic and Traditional Marriages (Registration) Bill and the Water Users’ Association (Irrigation) Bill, both aimed at supporting social structures and improving agricultural development in the state.

Source: Punch