A Federal High Court sitting in Abuja on Wednesday, October 30, 2024, gave a restraining order to the Central Bank of Nigeria over release of the federal allocation funds to Rivers State.
Justice Joyce Abdulmalik barred the CBN from further releasing monthly financial allocations to Rivers State Government.
According to Ms Abdulmalik, the presentation of the 2024 budget by Governor Siminalayi Fubara before a four-member Rivers House of Assembly was an affront to the provisions of the 1999 Constitutional as amended.
Describing the receipt and disbursement of monthly allocations since January 2024 by Mr Fubara as a constitutional somersault, Ms Abdulmalik held that the governor’s action – which she described as an aberration must not be allowed to continue.
She further restrained the CBN, 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 details soon…
