Student Village Academy › Forums › VILLAGE POLITICS AND CURRENT AFFAIRS › Local Politics › Court Halts CBN From Disbursing Funds to Rivers Government Over Budget Dispute
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October 30, 2024 at 5:23 PM #74621
A Federal High Court in Abuja, presided over by Justice Joyce Abdulmalik, has ordered the Central Bank of Nigeria (CBN) to cease the release of monthly allocations to the Rivers State Government. The court ruled that Governor Siminalayi Fubara’s presentation of the 2024 budget to only four members of the Rivers State House of Assembly violated constitutional provisions.
Justice Abdulmalik condemned Fubara’s receipt and disbursement of funds since January as unconstitutional, calling it an “aberration” that must end. As a result, the court has also directed the Accountant General of the Federation, along with Zenith and Access Banks, to prevent Governor Fubara from accessing funds from the Consolidated Revenue and Federation Account.
This ruling follows a Court of Appeal decision in October, which upheld the High Court’s invalidation of the N800 billion budget presented by Fubara to a limited number of assembly members in December 2023. The appellate court ruled that Fubara’s appeal lacked merit since he had withdrawn his counter-affidavit earlier, thereby forfeiting his right to appeal on the issue.
Justice Omotosho, in a separate ruling, nullified the budget passed by pro-Fubara lawmakers, asserting that Fubara’s actions represented an “executive dictatorship.” Omotosho ordered the governor to re-present the budget to a legally constituted assembly and refrain from interfering in assembly operations.
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