In a landmark decision today, the Supreme Court of Nigeria issued a ruling that blocks the Central Bank of Nigeria (CBN) from releasing allocated funds to the Rivers State Government under the leadership of Governor Siminalayi Fubara. The court also ruled to nullify the Local Government Elections scheduled for October 2024 in the state, citing constitutional and legal inconsistencies.
The court’s ruling came after several petitions and concerns raised by opposition parties and legal advocates, questioning the legitimacy of the upcoming local council elections and the financial management of the state government. The ruling is seen as a significant intervention in the governance of Rivers State and a statement on upholding constitutional processes at both the state and national levels.
The Supreme Court's decision halts any further disbursements of funds from the CBN to the Rivers State Government. This order is expected to have far-reaching implications for the financial management of the state, particularly with regard to projects and expenditures linked to the local councils and the state’s governance.
Furthermore, the court's nullification of the October 2024 Local Council Elections in Rivers State has sparked widespread discussions about the electoral process in the state. Legal experts suggest that the ruling may set a precedent for future local government elections in Nigeria, urging authorities to adhere strictly to the nation’s electoral laws and constitutional mandates.