The Nigerian government has confirmed that it has stopped the October monthly Federation Account Allocation Committee (FAAC) revenue payment to Rivers State.
This decision comes amid an ongoing face-off between Governor Simi Fubara and the Minister of Federal Capital Territory, Nyesome Wike.
The Office of the Accountant General of the Federation (OAGF) has stated that the court order prevents the Central Bank of Nigeria (CBN) and the Nigerian government from disbursing the monthly allocations to Rivers State. The OAGF has announced that it will respect the court order and await further instructions.
This development has significant implications for the state’s finances and governance, as Rivers State relies heavily on these federal allocations to fund its operations.
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