The Osun State House of Assembly, on Friday, passed the Osun State Local Government Account Administration Bill, 2025 after it scaled its third reading.
Once signed into law, the bill will regulate the opening, administration and operation of local government accounts and funds across the state.
During the presentation, lawmakers noted that the bill will promote the prudent management of public funds, ensure that resources are properly allocated, and protect local government finances from leakages and misappropriation.
A major provision of the bill is the requirement for two compulsory signatories to all local government accounts — the Director of Finance and the Director of Administration and General Services.
The bill also sets strict penalties for violations, including up to five years’ imprisonment, a ₦50 million fine, or both. Anyone found guilty must also refund any misappropriated funds with interest.
The Speaker, Rt. Hon. Adewale Egbedun, endorsed the bill, describing it as a crucial instrument for strengthening financial accountability at the grassroots.
A clean copy will now be forwarded to the Executive Governor, Senator Ademola Adeleke, for assent.
Earlier during plenary, the House also took the Osun State Infrastructure Maintenance and Regulation Bill, 2025 for its first reading, marking the beginning of legislative work aimed at improving infrastructure management across the state.
