Court Halts CBN Funds to Rivers State: Implications for Governance

Federal High Court in Abuja has issued a significant ruling that prevents the Central Bank of Nigeria (CBN) from releasing financial allocations to the Rivers State Government until a lawful appropriation act is passed by a properly constituted House of Assembly. This decision arises from a suit filed by the Rivers State House of Assembly, challenging Governor Siminalayi Fubara's attempt to present the 2024 Appropriation Bill to a four-member Assembly that was not properly constituted. The ruling has raised concerns among stakeholders regarding its potential impact on the state's finances and governance, prompting discussions about the future of fiscal management in Rivers State.
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