Court restrains CBN from releasing allocation to Rivers State

A Federal High Court located in Abuja has issued an order preventing the Central Bank of Nigeria (CBN) from continuing to disburse monthly financial allocations to the Rivers State government.

The implications of this ruling could have far-reaching effects on the state’s budget and its ability to fund essential services and projects.

Justice Joyce Abdulmalik issued the order on Wednesday

According to her, the receipt and disbursement of monthly allocations since January this year by governor Siminalayi Fubara is a Constitutional sommersault and aberration that must not be allowed to continue.

She held that the presentation of the 2024 budget by Fubara before a 4-member Rivers House of Assembly was an affront to the Constitutional provision.