FG stops FAAC allocation to Rivers

Follows a recent court ruling related to the ongoing political crisis in Rivers state, the Federal Government has decided to halt monthly funds from the Federation Account Allocation Committee (FAAC) to Rivers State.

Bawa Mokwa, spokesperson for the Accountant General of the Federation, confirmed the decision.

According to Mokwa who confirmed that no state of the federation had been paid the FAAC revenue for the month of October, the government would respect the court order as it pertains to Rivers State.

“What I got is that the October 2024 FAAC has not been distributed yet. However, the Federal Government will obey the court order on the matter of Rivers State allocation,” Mokwa said.

____The move comes after a court order, which directed the Central Bank of Nigeria (CBN) and the Federal Government to cease payments to Rivers State until Governor Siminalayi Fubara presents the state’s budget to the House of Assembly in line with legal requirements.

____…..This ruling also restricts access to funds from the Consolidated Revenue and Federation Account for Governor Fubara, as well as blocking financial institutions like Zenith Bank and Access Bank from processing payments on his behalf.

_____Meanwhile Governor Fubara has approached the Court of Appeal, asking for the reversal of the Federal High Court’s

,,,,,,,The governor claimed that the decision was made in bad faith and should be annulled.