• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Economy

Court bars CBN, Accountant-General from further disbursing allocation to Rivers state 

Aghogho Udi by Aghogho Udi
October 30, 2024
in Economy, Legal & Regulations, Sectors
Federal High Court, REA
Share on FacebookShare on TwitterShare on Linkedin

The Federal High Court in Abuja, on Wednesday, issued an order barring the Central Bank of Nigeria (CBN) from further disbursing monthly financial allocations to the Rivers State government.  

According to the News Agency of Nigeria (NAN), the ruling also extends to the Accountant-General of the Federation (AGF), as well as Zenith Bank and Access Bank, where the state holds accounts. 

In her judgment, Justice Joyce Abdulmalik ruled that Governor Siminalayi Fubara’s receipt and use of monthly allocations since January 2024 constitute a violation of the constitution that cannot be permitted to continue.  

RelatedStories

CBN names 11 pre-shipment agents for crude oil, gas exports in Nigeria 

Rivers crisis: Fubara cautions supporters to stop those actions that give him problems 

May 12, 2025
FCT High Court, Benjamin Joseph, zinox

System Glitch: Court orders final forfeiture of N1.2bn stolen by individuals from Nigerian bank 

May 11, 2025

The judge described Fubara’s presentation of the 2024 budget to a four-member Rivers House of Assembly as a direct affront to constitutional requirements.

She further stated that the governor’s implementation of the budget reflects a gross breach of the 1999 Constitution, which he is bound to uphold. 

Justice Abdulmalik consequently ordered the CBN, AGF, Zenith Bank, and Access Bank to block any further access by Fubara to funds from the Consolidated Revenue Fund and the Federation Account. 

Rivers State political crisis 

The dispute surrounding the Rivers State government’s finances stems from a political crisis that erupted earlier in 2024, following Governor Siminalayi Fubara’s fallout with members of the state legislature.

Tensions reached a peak when most of the Rivers House of Assembly members were reportedly impeached or suspended, leaving only four loyalists in the assembly.  

Despite the irregularity, Governor Fubara pressed forward, presenting and approving the state’s 2024 budget with the drastically reduced assembly, a move widely criticized as unconstitutional. 

  • In January, the Federal High Court in Abuja voided the N800 billion budget approved by a faction of the Rivers State House of Assembly led by Edison Ehie and signed into law by Governor Siminalayi Fubara. 
  • The court also ruled in favour of a suit filed by the Assembly and its Speaker, Martin Amaewhule, which sought an injunction to prevent Governor Fubara from obstructing the Assembly’s functions under Amaewhule’s leadership, among other reliefs. 
  • Presiding Judge James Omotosho declared that all actions taken by the four lawmakers aligned with Fubara were illegal and without effect. 
  • Earlier this month, the Court of Appeal in Abuja rejected Governor Siminalayi Fubara’s appeal challenging the Federal High Court’s decision that nullified the N800 billion budget passed by the Edison Ehie-led faction of the Rivers State House of Assembly and signed into law by the governor. 
  • The three-member appellate panel delivered the ruling on Thursday, October 10, 2024, upholding the lower court’s judgment. 

Follow us for Breaking News and Market Intelligence.
Tags: Federal High CourtRivers StateSim Fubara
Aghogho Udi

Aghogho Udi

My name is Aghogho Udi, a writer, journalist, and researcher, deeply intrigued by the political economy of Nigeria and the broader African context. My focus lies in shedding light on the intricate connections between macroeconomics and politics, offering valuable insights that foster comprehension of Africa's prevailing economic landscape and the world in general.

Related Posts

CBN names 11 pre-shipment agents for crude oil, gas exports in Nigeria 
Business News

Rivers crisis: Fubara cautions supporters to stop those actions that give him problems 

May 12, 2025
FCT High Court, Benjamin Joseph, zinox
Financial Services

System Glitch: Court orders final forfeiture of N1.2bn stolen by individuals from Nigerian bank 

May 11, 2025
Federal High Court, REA
Legal & Regulations

Court orders final forfeiture of FIRS staff’s Abuja, Kano properties over alleged money laundering  

April 4, 2025
Multichoice Nigeria increases DStv, GOtv subscription prices again, effective March 1 
Legal & Regulations

MultiChoice: Court reserves judgment on ‘GOtv, DStv price increases’ in Nigeria till May 8 

March 27, 2025
First Bank
Business News

FirstBank files appeal as court rules debt recovery, not maritime claim cargo remains under arrest

March 26, 2025
Labour, Minimum wage, Oil marketers back out of NLC, TUC nationwide strike, support deregulation policy
Business News

Organised Labour threatens nationwide disruption over emergency rule in Rivers State

March 25, 2025
Next Post
David Umahi,

FG sets up 4 toll points on Abuja-Keffi-Makurdi Road to repay $460.8. million Chinese loan 

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Zenth Bank
Emple
first bank
Zenth Bank








DUNS

Recent News

  • Nasarawa Assembly passes bill to regulate mining activities, imposes up to N10 Million fine on defaulters 
  • Lagos state delivers 9,970 housing units in six years, targets more homes by 2026 
  • CBN launches new platform to boost $1 billion monthly remittances 

Follow us on social media:

Recent News

Nasarawa Assembly passes bill to regulate mining activities, imposes up to N10 Million fine on defaulters 

Nasarawa Assembly passes bill to regulate mining activities, imposes up to N10 Million fine on defaulters 

May 14, 2025
Lagos plans N500 entertainment tax, eyes N20 billion annual revenue 

Lagos state delivers 9,970 housing units in six years, targets more homes by 2026 

May 13, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics