BREAKING: FG Stops FAAC Payments To Rivers

The federal government has announced that Rivers State will no longer receive its monthly funds from the Federation Account Allocation Committee (FAAC).

This decision was confirmed by Bawa Mokwa, spokesperson for the Office of the Accountant General of the Federation.

Mokwa explained that the action follows a court order related to the political situation in Rivers State. He also clarified that, while no state has yet received its FAAC revenue for October 2024, the federal government would comply with the court’s directive regarding Rivers State.

“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 announcement comes amid a dispute between Governor Siminalayi Fubara and his predecessor, Nyesom Wike, now the Minister of Federal Capital Territory. A court ruling had instructed the Central Bank of Nigeria (CBN) and the federal government to halt payments to Rivers State. The court also directed that Governor Fubara must submit the state’s budget to a lawfully recognized House of Assembly before any funds could be released.

Justice Joyce Abdulmalik, in her ruling at the Abuja Federal High Court, further ordered that the CBN, Accountant-General of the Federation, Zenith Bank, and Access Bank should deny Fubara access to funds from the Consolidated Revenue and Federation Account.

Further details will be provided as they become available.

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