JUST IN: COURT COMPELS CBN TO FREEZE RIVERS STATE ALLOCATIONS OVER CONSTITUTIONAL VIOLATIONS

JUST IN: COURT COMPELS CBN TO FREEZE RIVERS STATE ALLOCATIONS OVER CONSTITUTIONAL VIOLATIONS

A Federal High Court in Abuja has ordered the Central Bank of Nigeria (CBN) to halt all financial allocations to the Rivers State Government, citing constitutional violations by Governor Siminalayi Fubara.

The court’s decision, delivered by Justice Joyce Abdulmalik, stipulates that funds cannot be disbursed until a legitimate appropriation act is passed by a properly constituted House of Assembly.

Recall that Governor Fubara’s presentation of the 2024 budget to a four-member Rivers House of Assembly was deemed a “gross violation” of the 1999 Constitution.

The court has restricted the CBN, Accountant General of the Federation, Zenith Bank, and Access Bank from allowing Governor Fubara to withdraw funds from the state’s revenue sources.

This ruling is a major setback for Governor Fubara’s administration, which has been embroiled in controversy surrounding the state’s finances since January.

The decision is expected to have significant implications for the state’s budget implementation and financial operations, amidst ongoing debates about the legitimacy of the state’s legislative body.

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