BREAKING: Court Issues Ruling Against CBN’s Financial Transfers To Rivers State

BREAKING: Court Issues Ruling Against CBN’s Financial Transfers To Rivers StateJustice Abdulmalik ruled that Governor Siminalayi Fubara’s decision to present the 2024 Appropriation Bill to a four-member Assembly, which was not properly constituted, is invalid.....KINDLY READ THE FULL STORY HERE▶

The Federal High Court in Abuja has issued a significant order restraining the Central Bank of Nigeria (CBN) from releasing financial allocations to the Rivers State Government until a legitimate appropriation act is passed by a validly constituted House of Assembly.

This ruling, made by Justice Joyce Abdulmalik, came in response to a suit filed by the Rivers State House of Assembly, led by Martins Amaewhule. The court’s decision effectively halts any further funding to the Rivers State Government until the necessary legislative processes are completed, meaning the state’s financial activities are now on hold.

SaharaReporters previously reported that the Court of Appeal in Abuja recognized Martin Amaewhule as the legitimate Speaker of the Rivers State House of Assembly. Justice James Omotosho of the Federal High Court had nullified the N800 billion budget passed by the Edison Ehie-led faction of the Assembly and signed into law by Governor Fubara.

The court upheld the Assembly’s suit against Fubara, which sought an injunction to prevent the governor from undermining the Assembly’s authority.

On December 13, 2023, amid a political crisis and the demolition of the Assembly Complex, Fubara had presented the 2024 budget proposal of N800 billion to five members of the Assembly led by Edison Ehie at the Government House in Port Harcourt, after a court had restrained Amaewhule from using the Assembly Complex. The pro-Fubara lawmakers subsequently passed the budget, which the governor claimed was aimed at fostering economic development and addressing socio-economic inequality in the state.

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