On Air Now:
Now Playing:Loading...
site loader
October 30, 2024 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 The appellate court dismissed Fubara’s appeal, noting that he had withdrawn his counter-affidavit in the initial trial and thus could not legally challenge the matter on appeal.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.

Leave a Reply

Your email address will not be published. Required fields are marked *

Rating*

Watch Live

you need to specify the src of the video file

x
PHP Code Snippets Powered By : XYZScripts.com
X