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October 30, 2024

October 30, 2024October 30, 2024 IFMNEWS

Court Stops CBN From Disbursing Funds to Rivers Government

Justice Joyce Abdulmalik of the Federal High Court in Abuja has issued an order stopping the Central Bank of Nigeria (CBN) from releasing monthly financial allocations to the Rivers State Government. Justice Abdulmalik ruled that Rivers State Governor Siminalayi Fubara's handling of these allocations since January violated constitutional provisions and should not continue.

The court found that Governor Fubara’s presentation of the 2024 budget before a four-member Rivers House of Assembly contradicted the Constitution. This action, Justice Abdulmalik stated, was a serious breach of the 1999 Constitution, leading the court to restrain the CBN, the Accountant General of the Federation, and commercial banks, including Zenith Bank and Access Bank, from allowing the governor to access funds from the Consolidated Revenue and Federation Account.

Earlier in October, the Court of Appeal upheld a previous Federal High Court ruling, which had nullified the N800 billion budget passed by only five members of the Rivers State House of Assembly under Edison Ehie's leadership. The appellate court dismissed Fubara’s appeal, noting that he had withdrawn his counter-affidavit in the initial trial and thus could not legally challenge the matter on appeal.

In a unanimous judgment, the appellate court emphasized that Governor Fubara should respect the rule of law, describing the governance situation in Rivers State as "executive dictatorship" and a “joke taken too far.” Justice Omotosho, who delivered the judgment, also annulled the 2024 budget passed by pro-Fubara lawmakers and instructed that the budget be re-presented before the legally constituted Rivers House of Assembly under Speaker Martin Amaewhule.

Additionally, Justice Omotosho ordered Governor Fubara to release all funds allocated to the Rivers House of Assembly and to refrain from interfering with its activities. The N800 billion budget, titled “Budget of Renewed Hope, Consolidation and Continuity,” had been presented to only five out of over 30 members of the House of Assembly in December 2023.

October 30, 2024

October 30, 2024 IFMNEWS

Federal Government Donates ₦500 Million to Nigerian Legion

The Federal Government has donated ₦500 million to the Nigerian Legion in support of veterans and their families. This announcement was made by the Secretary to the Government of the Federation, George Akume, during the 2025 Armed Forces Remembrance Day Celebration Emblem and Appeal Fund Launch held at the State House, Abuja.

In a statement on Tuesday, Presidential Spokesman Bayo Onanuga relayed President Bola Tinubu’s commendation for the Nigerian Armed Forces' commitment to addressing the nation’s security challenges. President Tinubu highlighted the crucial role of security in fostering national peace and development. “No matter what economic theory we propagate or postulate, if there is no security, we cannot promote peace and development,” he stated, expressing gratitude to the Armed Forces for their unwavering dedication.

Tinubu reaffirmed that supporting the welfare of security personnel would remain a top priority for his administration, honoring those who have paid the ultimate price for Nigeria’s unity and stability. “We came today to remember our fallen heroes, men, and women who have sacrificed their lives for this country’s unity, stability, and progress. We are committed to their values, principles, and the unity of this country as we pass on a banner without stain to the next generation,” he said.

The Minister of Defence, Abubakar Badaru, expressed appreciation for Tinubu’s commitment to supporting the welfare of active-duty, retired, and fallen soldiers, along with their families. Badaru emphasized that the emblem launch serves as both a symbol of remembrance and a call to action. “Unveiling this emblem serves as a beacon of hope and a reminder of our collective responsibility to uplift our Armed Forces and their families,” he said, explaining that the Appeal Fund will support essential welfare programs for veterans, including healthcare, education, and financial aid.

Dignitaries at the event included Vice President Kashim Shettima, Senate President Godswill Akpabio, Speaker of the House of Representatives Tajudeen Abbas, members of the Federal Executive Council, service chiefs, heads of security and paramilitary agencies, and representatives of the Nigerian Legion.

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