The Central Bank of Nigeria, CBN has been prevented from continuing to provide the Rivers State government with monthly budgetary allocations by the Federal High Court in Abuja.
According to the court, Governor Siminalayi Fubara’s collection and distribution of monthly allocations since January of this year constitute a constitutional aberration and somersault that cannot be permitted to continue.
The order was issued on Wednesday by Justice Joyce Abdulmalik, who ruled that Fubara’s presentation of the 2024 budget to the four-member Rivers House of Assembly violated the Constitution.
The judge specifically stated that Fubara’s implementation of the illegal budget constituted flagrant violations of the 1999 Constitution, which he had vowed to uphold.
As a result, the judge prohibited Zenith Bank, Access Bank, the CBN, and the Accountant General of the Federation from granting Fubara any more access to funds from the Consolidated Revenue and Federation Account.
More details later…
