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The Supreme Court has issued an order preventing the Central Bank of Nigeria (CBN) and other agencies from disbursing funds to the Rivers State government.
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The court’s decision is effective until a properly constituted House of Assembly is in place in Rivers State.
The court also directed Speaker Martin Amaewhule and other elected lawmakers to resume legislative activities without delay.
The Supreme Court has issued an order preventing the Central Bank of Nigeria (CBN), the Accountant General of the Federation, and other relevant agencies from disbursing funds to the Rivers State government.
This decision, the court stated, will remain in effect until a properly constituted House of Assembly is in place.
READ ALSO: CBN’s FX Reforms Stabilize Naira, Says Expert
In a judgment delivered by Justice Emmanuel Akomaye on behalf of the five-member panel, the court dismissed Governor Siminalayi Fubara’s cross-appeal, which challenged the legitimacy of the Assembly led by Speaker Martin Amaewhule.
The court directed Amaewhule and other elected lawmakers to resume legislative activities without delay.
The court criticized Governor Fubara’s handling of the alleged defection of 28 Assembly members, describing it as “an act of brigandage and dictatorship” aimed at obstructing the Assembly’s legislative duties under Amaewhule’s leadership.
The court also condemned the demolition of the Rivers State House of Assembly complex as an “act of indiscipline,” accusing the governor of using executive power excessively to disrupt the Assembly’s proceedings.
CBN’s Forex Policies Working, Naira Undervalued by 26.35% – Rewane
Bismarck Rewane, Managing Director of Financial Derivatives Company, has expressed confidence in the Central Bank of Nigeria’s (CBN) foreign exchange policies, stating they are yielding positive results and aligning the naira closer to its fair value.
Rewane made this statement on the Global Business Report show on Arise TV.
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