CBN Denies Plan to Withhold LGs Allocations in Kano State Court Case

The Central Bank of Nigeria (CBN) has denied plans to withhold allocations for 44 local governments in Kano State, urging a high court to remove it as a defendant in a related suit. The CBN's denial comes after a lawsuit was filed to stop the distribution of funds to the affected local government areas.

The Central Bank of Nigeria (CBN) has denied allegations that it plans to withhold allocations for 44 Local Government Areas (LGAs) in Kano State, dismissing the claim as "baseless" and "malicious". The CBN made the statement after a Kano State High Court received a suit seeking an injunction to stop the allocation of funds to the LGAs. The bank's move comes amid controversy surrounding the distribution of funds among local governments in the state.