Inside Nigeria
Court halts CBN from releasing monthly allocation to Rivers State Govt
The Federal High Court in Abuja has issued an order preventing the Central Bank of Nigeria (CBN) from continuing monthly financial allocations to Rivers State.
The ruling came as Justice Joyce Abdulmalik deemed Governor Siminalayi Fubara’s receipt and spending of allocations since January a “constitutional aberration.”
Justice Abdulmalik highlighted that Fubara’s presentation of the 2024 budget to only four members of the Rivers State House of Assembly violated constitutional standards, making the budget’s implementation unlawful.
The court stressed that such actions contravene the 1999 Constitution, which the governor is bound to uphold.
As a result, the court has restricted the CBN, the Accountant General of the Federation, Zenith Bank, and Access Bank from permitting further access to Rivers State’s funds from the Consolidated Revenue and Federation Accounts.
More to come.
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