Friday, January 31, 2025

Court Bars CBN From Releasing Funds to Governor Fubara

A Federal High Court in Abuja has ordered the Central Bank of Nigeria (CBN) to halt monthly financial allocations to the Rivers State government due to alleged constitutional violations in Governor Siminalayi Fubara’s 2024 budget disbursement.
Justice Joyce Abdulmalik cited “constitutional somersault” and “aberration” in Fubara’s handling of the state’s budget since January.
The judge’s decision came after Fubara presented the 2024 budget to the state legislature with only four members present in the Rivers State House of Assembly. Justice Abdulmalik deemed this a “flagrant affront” to constitutional requirements, stating it grossly violated the 1999 Nigerian Constitution.
Fubara’s disbursement and receipt of monthly allocations were also condemned by Justice Abdulmalik, who noted that these actions breached the Constitution the governor swore to uphold. Consequently, the court issued a restraining order to the CBN, Accountant General of the Federation, Zenith Bank, and Access Bank.
Recall that Timi Frank, former Deputy National Publicity Secretary of the All Progressives Congress (APC), said that Minister of the Federal Capital Territory (FCT) Nyesom Wike planned to secure a court injunction to block funds to Rivers State’s 22 Local Government Councils. Frank accused Wike of attempting to reverse democracy in Rivers State, warning that such actions could lead to economic disruption and undermine democratic gains.
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