Ibok-Ete Ibas confirms receipt of withheld Rivers allocations

Ibok-Ete Ibas, the sole administrator of Rivers, says the withheld federation account allocation committee (FAAC) funds has been released to the state.

Ibas announced the receipt of the funds on Friday during a meeting with members of the Nigeria Union of Local Government Employees (NULGE) in Port Harcourt, the state capital.

BACKGROUND

Early this month, the supreme court affirmed the judgment of a federal high court that barred the Central Bank of Nigeria (CBN) and the accountant-general of the federation from releasing statutory monthly allocations to Rivers state.

The federal high court had stopped the release of funds to Rivers after Siminalayi Fubara, the suspended governor of the state, failed to re-present the 2024 appropriation bill before the Martins Amaewhule-led assembly.

On Tuesday, President Bola Tinubu declared a state of emergency in the south-south state, citing the prolonged political crisis.

The president suspended Fubara, Ngozi Odu, his deputy, and all house of assembly members, for six months.

Tinubu also appointed Ibas, a retired vice-admiral, as the sole administrator for Rivers.

On Thursday, the senate and the house of representatives controversially approved Tinubu’s request for emergency rule in Rivers state.

Lateef Fagbemi, the attorney-general of the federation (AGF) and minister of justice, had said the funds would be released if the sole administrator made a request.

‘FUNDS HAS BEEN RELEASED’

Speaking at the meeting, Ibas told the NULGE members, that the funds had been released to the state. 

Ibas said it inexcusable that, despite the region’s wealth, residents are not experiencing its full benefits.

He expressed deep concern over the struggles of workers in the state, promising to prioritise their welfare.

“I feel the pain of the workers,” Ibas said.