Rivers crisis deepens as court stops CBN from releasing funds to Fubara’s govt

An Abuja Federal High Court has ordered the Central Bank of Nigeria (CBN) to stop releasing financial allocations to the Rivers State Government.

In a judgement delivered by Justice Joyce Abdulmalik, the court declared the receipt and disbursement of monthly allocations by the Rivers State Governor, Siminalayi Fubara, since January this year a breach of the Constitution and an aberration that must not be allowed to continue.

Justice Abdulmalik ruled that Fubara’s presentation of the 2024 budget before a four-member Rivers House of Assembly amounted to an affront to the constitutional provision.

The judge specifically held that the Governor’s action was a gross violation of the 1999 Constitution.

See Also

EFCC araigns Sarumi Babafemi, three firms Over Alleged N206m Fraud

Subsequently, the court restrained CBN, the Accountant General of the Federation, Zenith Bank and Access Bank from further granting Fubara access to funds from the consolidated Revenue and Federation account.

More to follow….