The Court of Appeal sitting in Abuja, on Monday, vacated the judgement that barred the Central Bank of Nigeria, (CBN), from releasing monthly statutory allocations to Rivers State. A 3-member panel of Justices of the appellate court, in a split decision of two-to-one, held that the Federal High Court in Abuja lacked the requisite jurisdiction to entertain the lawsuit that led to the restraining order. It held that the fact that federal agencies were joined as parties in the matter was not sufficient to confer the court with unfettered jurisdiction…
Read MoreA’Court vacates order stopping allocations to Rivers State
