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Breaking News: Court Orders CBN to Freeze Rivers State Allocation

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Breaking News: Court Orders CBN to Freeze Rivers State Allocation

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By Samaila Emmanuel Bzugu

In a dramatic turn of events, Justice Joyce Abdulmalik of the Federal High Court in Abuja has ordered the Central Bank of Nigeria (CBN) to stop releasing monthly financial allocations to the Rivers State Government. This decision comes after Governor Siminalayi Fubara presented the 2024 budget to a four-member Rivers House of Assembly, which the court deemed a blatant disregard for constitutional provisions.

According to Justice Abdulmalik, Fubara’s actions constitute a “constitutional somersault and aberration” that cannot be allowed to continue. The judge emphasized that the governor’s decision to implement the budget despite its unlawful passage violates the 1999 Constitution.

According to Justice Abdulmalik, Fubara’s actions constitute a “constitutional somersault and aberration” that cannot be allowed to continue

As a result, the CBN, Accountant General of the Federation, Zenith Bank, and Access Bank have been restrained from allowing Fubara to access funds from the Consolidated Revenue and Federation Account. This move has sparked intense debate, with many questioning the implications for the people of Rivers State.

The court’s ruling effectively freezes Rivers State’s access to federal funds until the constitutional issues are resolved. The development is likely to have significant implications for the state’s governance and financial operations.

Stay tuned for further updates on this developing story.

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