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News

Court Halts CBN From Releasing Funds to Rivers State Government

Muhammad A. Aliyu
By Muhammad A. Aliyu
Published: October 30, 2024
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Rivers State Governor, Siminalayi Fubara
Rivers State Governor, Siminalayi Fubara
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Justice Joyce Abdulmalik of the Federal High Court in Abuja has issued a ruling stopping the Central Bank of Nigeria (CBN) from further releasing monthly financial allocations to the Rivers State Government.

The decision comes amid concerns over constitutional violations by the state’s governor, Siminalayi Fubara.

In her ruling, Justice Abdulmalik held that the receipt and disbursement of monthly allocations by Governor Fubara since January 2024 were in breach of the Nigerian Constitution. The court declared that the presentation of the 2024 budgetby Fubara before a four-member Rivers House of Assembly was unconstitutional and an “aberration” that could not be allowed to continue.

The judge stated that Governor Fubara’s actions amounted to a “gross violation” of the 1999 Constitution, emphasizing the need to uphold the integrity of constitutional provisions.

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As a result, the court has restrained the CBN, the Accountant General of the Federation, Zenith Bank, and Access Bank from allowing Governor Fubara to access funds from the Consolidated Revenue and Federation Account until further notice.

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TAGGED:CBNConstitutionCourt RulingFinancial AllocationsJustice Joyce AbdulmalikRivers State GovernmentSiminalayi Fubara
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ByMuhammad A. Aliyu
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Muhammad Ameer Aliyu, is a prolific journalist who joined Okay Nigeria in 2015 with the aim staying committed to bringing more positive growth to the digital news platform. He is the Senior Editor at Okay Nigeria.
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