…Says CBN, AGF Setting Dangerous Precedent

By Dapo Akinrefon

LAGOS — The 2023 Labour Party presidential candidate, Mr. Peter Obi, has condemned the release of withheld federation allocation funds to the Sole Administrator of Rivers State, Vice Admiral Ibok-Ete Ibas (retd.), calling it a violation of legal and democratic principles.

In a post on X (formerly Twitter), Obi expressed concerns over the moral and legal implications of the decision, arguing that it contradicts the Supreme Court’s judgment on the matter.

Obi emphasized that the Supreme Court had ruled that the funds should only be released after a properly constituted House of Assembly passes an Appropriation Bill.

“What we are witnessing in Rivers State is a brazen disobedience and disregard for the rule of law and our democratic principles.”

“The decision to release statutory allocations to an appointed Sole Administrator, despite a standing order of the Supreme Court, is not just unlawful—it is a direct challenge to the authority of the highest court in our country.”

Obi warned that disregarding the Supreme Court’s ruling sets a dangerous precedent and undermines Nigeria’s judicial system.

He called on the Central Bank of Nigeria (CBN) and the Accountant-General of the Federation (AGF) to respect the rule of law, rather than act in ways that undermine judicial authority.

“The CBN and AGF, institutions meant to uphold the law, should not be complicit in this disregard for our judiciary.”

Obi stressed that beyond Rivers State, this issue threatens Nigeria’s democracy and constitutional order, urging stakeholders to protect the nation’s democratic fabric.