After four years of legal tussles and negotiations, on 24 July, 2007, the then President Umaru Musa Yar'Adua, directed the Accountant General of the Federation, Mr. Ibrahim Dankwambo, to release the N10.8 billion belonging to Lagos state local councils, with immediate effect.
Presidential spokesperson Mr Segun Adeniyi told reporters that Yar'Adua took the decision after consulting with legal experts who advised that the seizure of the 10.8 billion naira by the government of former president Olusegun Obasanjo in 2004 was illegal.
Adiniyi said president Yar’adua has directed the country's accountant-general to release the money immediately to Governor Babatunde Fashola.
Obasanjo had ordered the seizure to show his displeasure with then Lagos governor Bola Tinubu for ignoring his instruction that he should not create new local government areas in the state.
Tinubu challenged the action in court and the Supreme Court ordered Obasanjo to release the money, but he refused to do so until he left office in May.
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