For decades, Nigeria has grappled with reckless spending of public funds at both federal and state levels. The chorus of “Hold Your Governors Accountable” has become a popular refrain, but it raises a fundamental question: who truly has the power to enforce accountability?   Under Nigeria’s federal structure, states depend heavily on monthly allocations from the Federation Account Allocation Committee (FAAC). Between January and June 2025 alone, Lagos received ₦464.51 billion, Rivers ₦374.56 billion, Delta ₦368.75 billion, and Kano ₦250.76 billion, among others (FAAC/NBS, 2025). These staggering figures show that governors indeed control massive resources. Yet, poverty, insecurity, and underdevelopment remain the order of the day in many states. Historically, the military era (1966-1999) centralized power and wealth at the federal level, a legacy entrenched in the 1999 Constitution. Items on the Exclusive Legislative List, such as security, natural resources, and major infrastructure, place enormous responsibility on the Federal Government. Consequently, though states receive huge allocations, they often claim helplessness, shifting blame to Abuja. But constitutionally, both levels of government have responsibilities, particularly on education, health, and agriculture under the Concurrent List. The truth is, the masses lack real instruments to hold governors accountable beyond protests and elections. Agencies like EFCC and ICPC, created to check corruption, are federally controlled. Thus, only the Federal Government can directly investigate and prosecute governors, especially after their tenure when immunity expires. If the Federal Government meant well, it would not only stop the reckless “Father Christmas” distribution of funds but also demand strict accountability mechanisms from beneficiaries.   Yet, this does not absolve governors. With trillions disbursed, ₦1.56 trillion to the South-South, ₦1.14 trillion to the South-West, and ₦1.13 trillion to the North-West in just six months, no state has an excuse for unpaid salaries, collapsed schools, or crumbling hospitals. Governors have enough to economically impact their citizens. Therefore, Nigerians must insist on transparency. Civil society, media, and state assemblies must rise above compromise. But ultimately, the Federal Government bears greater responsibility: to restructure fiscal federalism, strengthen institutions, and ensure funds are not embezzled. Without this, the call to “hold your governors accountable” will remain mere rhetoric.