The Court of Appeal in Abuja has vacated a judgment that barred the Central Bank of Nigeria (CBN) from releasing monthly statutory allocations to Rivers State.
The appellate court held that the Federal High Court lacked jurisdiction to entertain the suit that led to the restraining order.
In a split decision, the three-member panel of justices ruled that the subject matter of the dispute bordered on the budget appropriation of a state, and therefore, the Federal High Court in Abuja was not the appropriate venue for the matter.
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The appeals court upheld six separate appeals filed by Governor Siminalayi Fubara, the Rivers State Government, and others, setting aside the high court order that restrained the CBN from releasing funds to the state.