Just in: Court stops CBN from releasing allocation to Rivers State

Justice Joyce Abdulmalik of the Federal High Court Abuja on Wednesday, October 30, stopped the Central Bank of Nigeria (CBN) from further releasing monthly financial allocations to the Rivers State Government.

This is in response to a suit filed by the Rivers State House of Assembly, led by Martins Amaewhule.

Justice Abdulmalik held that the decision by Governor Siminalayi Fubara to present the Rivers State’s 2024 Appropriation Bill to a four-member Assembly, that was not properly constituted, should not be allowed to stand.

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

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.

The court order essentially puts a hold on any further funding to the Rivers State Government until the necessary legislative steps are taken.

This means that the state’s financial activities will be on hold until the House of Assembly passes a lawful appropriation act.

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