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Home Business & Finance

Federal High Court Orders CBN to Withhold Rivers State’s Federal Allocation

Nnaemeka OkwarabyNnaemeka Okwara
October 30, 2024
in Business & Finance
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Federal High Court Orders CBN to Withhold Rivers State’s Federal Allocation
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The Federal High Court in Abuja has ordered the Central Bank of Nigeria (CBN) from releasing monthly financial allocations  to the Rivers State government. Justice Joyce Abdulmalik delivered the judgment on Wednesday, saying that Governor Siminalayi Fubara’s presentation of the 2024 budget to a small group of 4 people in the Rivers House of Assembly was not allowed by the law.

The court said that Fubara’s actions since January 2024 were like doing a flip in the law, which is not right, and needed to be stopped. Judge Abdulmalik believed that the governor’s use of this wrong budget breaks the 1999 Constitution.

Consequently, the court told the CBN, the Accountant General of the Federation, Zenith Bank, and Access Bank not to let Governor Fubara use money from the Consolidated Revenue and Federation Account.

This development comes as Rivers State is facing a big problem, with people questioning if Fubara’s leadership is really allowed by the law.

Tags: cbnFederal Allocationfederal characterFederal high CourtFederal High Court Orders CBN to Withhold Rivers State's Federal AllocationPoliticsrivers state
Nnaemeka Okwara

Nnaemeka Okwara

Okwara Nnaemeka Emmanuel is a skilled wordsmith, passionate blogger, and content writer with a degree in Media Content, He has made a significant mark in the industry. He also holds certification in Marketing and advertising. He has honed a unique blend of creativity and strategic thinking.Driven by a belief in the power of creativity, He has established a niche for himself in diverse regions, leaving a trail of successful projects and satisfied clients. His ability to craft compelling narratives and engage audiences sets him apart in the competitive world of content creation.As a dedicated professional, He continues to push boundaries and set new landmarks in their field. Whether it's through captivating blog posts, persuasive copywriting, or innovative content strategies, Nnaemeka’s consistently delivers excellence, leaving a long lasting impact

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