BREAKING: Court Blocks CBN From Releasing Allocations To Rivers State

A Federal High Court sitting in Abuja has restrained the Central Bank of Nigeria (CBN) from releasing monthly federal allocations to Rivers State.

The court in a ruling his Wednesday morning, deemed Governor Siminalayi Fubara’s handling of the allocations since January 2024 a “constitutional somersault” that cannot continue.

Specifically, Justice Joyce Abdulmalik in her ruling found Fubara’s presentation of the 2024 budget to a four-member Rivers House of Assembly to be a violation of the 1999 Constitution.

“This unlawful budget implementation constitutes a serious breach of constitutional duties”, she held.

As a result, the CBN, Accountant General of the Federation, and banks like Zenith and Access Bank are restrained from allowing Fubara access to funds from the Consolidated Revenue and Federation Account, the court ruled.