The Office of the Accountant-General of the Federation (OAGF) has announced plans to release financial allocations to Rivers State, following an appeal filed by the state government. This decision comes after the state governor, Siminalayi Fubara, sought the nullification of a court ruling that barred the Central Bank of Nigeria (CBN) from disbursing monthly allocations to the state.
Bawa Mokwa, Director of Press and Public Relations at the OAGF, disclosed the development on Saturday, November 23, 2024. The announcement follows a previous statement by Bawa Mokwa confirming the withholding of October allocations to the oil-rich state, in compliance with a Federal Capital Territory (FCT) High Court judgment issued on October 30, 2024.
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Recall, Justice Joyce Abdulmalik of the Federal Capital Territory (FCT) High Court had ordered the CBN to withhold Federation Account Allocation Committee (FAAC) payments to Rivers State. This ruling stemmed from a lawsuit filed by the Hon. Martin Amaewhule-led faction of the Rivers State Assembly, challenging the state’s access to its allocations.
However, the recent judgement issued by the Panel led by Justice Onyekachi Otisi clarified that the Electoral Act does not apply to local government elections, emphasizing the lower court’s lack of jurisdiction.
The OAGF’s latest move signals a potential resolution to the financial impasse, offering hope for the restoration of funding to Rivers State.