BREAKING: Court Restrains CBN, Banks 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 Government pending when a lawful appropriation act is passed by a validly constituted House of Assembly.

Justice Joyce Abdulmalik issued the order on Wednesday in a judgment on a suit filed by the Rivers State House of Assembly led by Martins Amaewhule.

Justice Abdulmalik held that the decision by Governor Siminalayi Fubara to present the Rivers State’s 2024 Appropriation Bill to a four-member Assembly, that was not properly constituted, should not be allowed to stand.

In her ruling, she 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.

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