FG withhold payment of FAAC allocation to Rivers state
The federal government has announced that monthly allocations from the Federation Account Allocation Committee (FAAC) will no longer be disbursed to the Rivers State government.
This was confirmed by Bawa Mokwa, the spokesperson for the Office of the Accountant General of the Federation, who explained that the decision aligns with a court order addressing the political situation in Rivers State.
While Mokwa clarified that no state has received FAAC allocations for October, he emphasized that the government is committed to adhering to the court order specifically affecting Rivers State.
FAAC
“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,” Daily Post quoted him to have said.
The development is coming amidst the faceoff between Governor Siminalayi Fubara and his predecessor who is now the Minister of Federal Capital Territory, Nyesom Wike.
Recall that a court had ordered the Central Bank of Nigeria (CBN) and the federal government to stop the payment of FAAC revenue to Rivers State until Governor Fubara represents the state’s budget to the House of Assembly recognized by the law.
The ruling by Justice Joyce Abdulmalik of the Abuja Federal High Court also prohibited the CBN, the Accountant-General of the Federation, Zenith Bank, and Access Bank from granting Fubara access to funds from the Consolidated Revenue and Federation Account.
Details later…
