Court Halts CBN Financial Allocations to Rivers State, Citing Constitutional Violations

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. The ruling, delivered on Wednesday, stems from concerns over Governor Siminalayi Fubara’s presentation of the 2024 budget to a four-member Rivers House of Assembly, which the judge deemed an affront to constitutional provisions.

Justice Abdulmalik characterized the receipt and disbursement of monthly allocations by Fubara since January as a “constitutional somersault” that cannot be permitted to continue. She stated that the governor’s actions in implementing an unlawful budget constituted gross violations of the 1999 Constitution, which he pledged to uphold.

As a result of the ruling, the CBN, Accountant General of the Federation, Zenith Bank, and Access Bank have been restrained from allowing Fubara access to funds from the Consolidated Revenue and Federation Account. Further details are expected to emerge following this significant decision.

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