The Nigerian federal government has withheld the October Federation Account Allocation Committee (FAAC) revenue due to Rivers State, amidst a rising conflict involving Governor Simi Fubara and the Minister of the Federal Capital Territory, Nyesom Wike. This decision was confirmed by Bawa Mokwa, spokesperson for the Office of the Accountant General of the Federation (OAGF), during a media briefing on Friday.
The move comes just after the government sanctioned the distribution of a significant sum—N1.1411 trillion—as the October 2024 FAAC revenue to federal, state, and local government entities. However, it became clear that Rivers State's share was excluded due to an existing court injunction. According to reports, the Federal High Court, presided over by Justice Abdulmalik, issued an order on October 30, 2024, preventing the Central Bank of Nigeria (CBN) and the federal government from disbursing funds to Rivers State.
In adherence to this legal directive, Mokwa emphasized that the OAGF, as a responsible government body, would strictly honor the court's ruling. He noted, “We will adhere to due diligence as long as the court’s directive stands. Should there be a contrary ruling, adjustments will be made accordingly.”
As of the time of the announcement, the allocation process for October's FAAC revenue remains incomplete, with Rivers State’s share in limbo, pending further legal developments. The incident underscores the ongoing tensions and legal battles that could have broader implications for federal-state financial relations in Nigeria.
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