Court Prevents CBN From Releasing Allocation To Rivers

The CBN was prevented from further disbursing monthly financial allocations to the Rivers State Gov. by Justice Joyce of the Federal High Court.

The presiding judge held that the presentation of the 2024 budget by Governor Siminalayi Fubara before a four-member Rivers House of Assembly was an affront to the constitutional provision.

She described the receipt and disbursement of monthly allocations since January this year by Fubara as a constitutional somersault and aberration that must not be allowed to continue.

Justice Abdulmalik also held that Fubara’s action in implementing an unlawful budget smacked gross violations of the 1999 Constitution he swore to protect.

She proceeded to restrain 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.

Details later…