Rivers State Chairman of the Chartered Institute of Bankers of Nigeria, Njoku Nkwachukwu, has cast doubt on the Martin Amaewhule-led Rivers State House of Assembly’s authority to halt state government spending.
This is in reaction to the Amaewhule-led faction placing an embargo on state government spending until Governor Siminalayi Fubara re-presents the 2024 Appropriation Bill before it, and the Victor Oko-Jumbo-led faction urging the public to disregard the pronouncement.
Speaking on Nigeria Info FM's Hard Facts, Nkwachukwu clarified that the legislature's role is to provide oversight and approval for public finances, not to directly control spending. He said only authorised signatories to the State Consolidated Revenue Account have the authority to issue a directive on the state expenditure.
He advised the Rivers State Governor on steps to take after state assembly factions’ dispute regarding government expenditure.
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