The Federal High Court in Abuja has thrown a wrench into the financial gears of the Rivers State government, issuing a stern order to the Central Bank of Nigeria (CBN) to put a temporary halt to the monthly financial allocations flowing to the state.
Justice Joyce Abdulmalik, the presiding judge, made this decision on Wednesday, just days after Governor Siminalayi Fubara presented his 2024 budget proposal to the Rivers House of Assembly. The court deemed Governor Fubara’s actions – accepting and disbursing monthly allocations since January – as a blatant violation of the constitution, a document he solemnly swore to uphold.
The judge, in a move that sent shockwaves through the state’s financial corridors, issued a restraining order targeting the CBN, the Accountant General of the Federation, and two major banks, Zenith and Access. This order effectively prevents Governor Fubara from accessing funds from the nation’s Consolidated Revenue and Federation Account.
The court saw Governor Fubara’s presentation of the 2024 budget to the Rivers House of Assembly, coupled with his implementation of a budget deemed unlawful, as a blatant disregard for the 1999 Constitution. This ruling, like a ripple effect, is poised to have a profound impact on the financial operations of the Rivers State government.
