The Federal Government has corrected the trending news that it had stopped disbursement of monthly allocations fund to Rivers State,
Mr. Bawa Mokwa, Director of Press in the office of the Accountant General of the Federation said it was not true.
Mokwa explained that “disbursement of October allocation to states and local governments by FAAC is ongoing” and that “Rivers State will benefit because of a subsisting appeal/stay of execution order.”
The Court of Appeal, Abuja Division, reserved judgments on Friday in five separate appeals arising from the judgments of a Federal High Court in Abuja regarding the political crisis in Rivers State. One of these appeals challenges the High Court’s judgment that stopped the Central Bank of Nigeria (CBN) from releasing federal allocation to the state.
On October 30th, Justice Joyce Abdulmalik of the Federal High Court had ordered the CBN to stop releasing monthly financial allocations to the Rivers State government. The court held that Governor Siminalayi Fubara’s receipt and disbursement of monthly allocations since January, based on a budget passed by a four-member Rivers State House of Assembly, was unconstitutional.
The judge restrained the CBN, Accountant General of the Federation, Zenith Bank, and Access Bank from allowing Fubara to access funds from the Consolidated Revenue and Federation Account. She also issued an injunction restraining Fubara and the state’s Accountant General from authorizing withdrawals from state bank accounts until a budget is passed by an appropriate House of Assembly.
The Court of Appeal is expected to deliver its judgments on a date to be communicated to the parties involved in the appeals. Meanwhile, the Federal Government maintains that Rivers State will continue to receive its monthly allocations pending the outcome of the appeals process.
Share your story or advertise with us: Whatsapp: +2347068606071 Email: info@newspotng.com
