Fubara: Court Stops CBN From Release of Rivers Allocation
A Federal High Court in Abuja has issued a restraining order on the Central Bank of Nigeria (CBN) and other financial institutions, forbidding them from further releasing monthly financial allocations to the Rivers State Government.
The court, presided over by Justice Joyce Abdulmalik, declared that Governor Siminalayi Fubara’s presentation of the 2024 budget before a four-member Rivers House of Assembly constituted a clear violation of the constitution.
The judge held that Governor Fubara’s actions in implementing an unlawful budget were a blatant disregard for the constitution, which he swore to uphold.
As a result, Justice Abdulmalik directed the CBN, the Accountant General of the Federation, Zenith Bank, and Access Bank to cease providing access to Rivers State’s share of revenue from the Consolidated Revenue and Federation Account.
The ruling is a significant blow to the Rivers State Government, which has been operating under a budget that the court deemed unconstitutional.
The implications of the court’s ruling extend beyond the immediate financial consequences for the Rivers State Government.
It sends a strong message to other state governors about the importance of adhering to constitutional provisions and respecting the rule of law in the budgeting and governance process.
The case highlights the critical role of the judiciary in holding public officials accountable and ensuring that power is exercised within the confines of the law.
Moreover, the ruling could set a legal precedent for future disputes over budgeting and financial management in Nigeria’s federal system, emphasizing the need for transparency and due process in government affairs.
