Court Stops CBN From Releasing Allocation To Rivers Govt

Posted by African Examiner Featured, Latest Headlines, News Across Nigeria Wednesday, October 30th, 2024

(AFRICAN EXAMINER) – Justice Joyce Abdulmalik of the Federal High Court Abuja has stopped the Central Bank of Nigeria (CBN) from further releasing monthly financial allocations to the Rivers State Government.

Justice Abdulmalik held that the receipt and disbursement of monthly allocations since January this year by the Rivers State Governor, Siminalayi Fubara, was a breach of the Constitution and an aberration that must not be allowed to continue.

The judge held that the presentation of the 2024 budget by Fubara before a four-member Rivers House of Assembly was an affront to the constitutional provision.

Justice Abdulmalik specifically said that the governor’s action was a gross violation of the 1999

The judge subsequently restrained the Central Bank of Nigeria, the Accountant General of the Federation, Zenith Bank and Access Bank from further allowing Fubara to access money from the Consolidated Revenue and Federation Account.

More to follow….