BREAKING: Court stops CBN from releasing allocation to Rivers

The Central Bank of Nigeria (CBN), has been stopped from further releasing monthly financial allocations to the Rivers State government by the Federal High Court in Abuja.
The court held that the receipt and disbursement of monthly allocations since January this year by Governor Siminalayi Fubara is a constitutional somersault and aberration that must not be allowed to continue.
Issuing the order on Wednesday, Justice Joyce Abdulmalik, held that the presentation of the 2024 budget by Fubara before a four-member Rivers House of Assembly was an affront to the Constitutional provision.
Specifically, the Judge said that Fubara action in implementing unlawful budget smacked gross violations of the 1999 Constitution he swore to protect.
The judge therefore restrained the CBN, the Accountant General of the Federation, Zenith Bank and Access Bank from further allowing Fubara to access money from the Consolidated Revenue and Federation Account.
Details later…