Federal High Court Orders CBN to Freeze Rivers State Allocations

Justice Joyce Abdulmalik of the Federal High Court in Abuja has granted an injunction restraining the Central Bank of Nigeria (CBN) from releasing monthly financial allocations to the Rivers State Government.

The order stems from Governor Siminalayi Fubara’s alleged constitutional breach by presenting the 2024 budget to a four-member Rivers House of Assembly, contrary to constitutional provisions.

Justice Abdulmalik ruled that Fubara’s actions since January violated the 1999 Constitution.

The court barred the CBN, Accountant General of the Federation, Zenith Bank, and Access Bank from allowing Fubara access to funds from the Consolidated Revenue and Federation Account.

This development follows a lawsuit filed by a faction of the Rivers State House of Assembly, led by RT Hon Martin Amaewhule, challenging the governor’s presentation of the budget to the rival assembly faction led by RT Hon Edison Ehie.