Federal High Court Bars CBN From Allocating Funds to Rivers State
In a landmark ruling, the Federal High Court in Abuja has directed the Central Bank of Nigeria (CBN) to halt the release of monthly allocations to the Rivers State government, marking a significant judicial intervention into the state’s financial administration. Justice Joyce Abdulmalik, presiding over the case, determined that the continuous receipt and use of funds by Governor Siminalayi Fubara since January is a “constitutional aberration” that must be curtailed.
The court’s decision stemmed from what it deemed an unlawful exercise in governance: Governor Fubara’s presentation of the 2024 budget to a significantly reduced Rivers House of Assembly, comprising only four members. Justice Abdulmalik emphasized that this act flagrantly disregarded constitutional requirements, describing it as an “affront” to the foundational principles embedded in the 1999 Constitution, which the governor had pledged to uphold.
As part of the court’s order, the CBN, the Accountant General of the Federation, and major financial institutions, including Zenith Bank and Access Bank, are restrained from facilitating access to funds from the Consolidated Revenue and Federation Account for the Rivers State administration. This ruling effectively curbs Governor Fubara’s financial maneuvering powers, placing the Rivers State government’s funding on hold until further notice.
