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Laws of the Federation Preview 42 min read

Federal Capital Territory Appropriation Act, 2023

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Arrangement of Sections

1.

2. Release funds.

3. Payment of revenue Account.

4. Virement.

5. Quarterly report.

6. Waiver not to incur expenditure.

7. Citation.

1. (2)

(2023)

1.

(1) The Director of Treasury of the Federal Capital Territory Administration shall, when authorised to do so by warrants signed by :he Minister Federal Capital Territory Administration with responsibility to pay out of the Federal Capital Territory Administration Statutory Revenue Fund of the Federal Capital Territory Administration during die financial year 2023 the sum specified by the warrants, not exceeding in the aggregate N579,693,907,532.00 (five hundred and seventy nine billion, six hundred and ninety three million, nine hundred and seven thousand, five hundred and thirty two Naira) only.
(2) The amount mentioned in section (1) shall be appropriated to heads of expenditure as indicated in the Schedule to this Act. [Schedule]

Issue and appropriation of N579,693,907,532 from Federal Capital Territory Administration Statutory Revenue Fund.

Release funds.

2.

All amounts appropriated under this Act shall be made from the Federal Capital Release of funds Territory Administration Statutory Revenue Fund only for the purposes specified in the Schedule to this Act.

Payment of revenue Account.

3.

(1) All revenue accruing to the Federal Capital Territory Administration, including the Statutory Revenue distribution shall be paid into the Federal Capital Territory Administration’s Statutory Revenue Account.
(2) No monies shall be withdrawn from the Account mentioned in subsection (1) without appropriation by the National Assembly.

Virement.

4.

In the event that the implementation of any of the projects intended to be undertaken under this Act cannot be completed without virement, such virement shall only be effected with the prior approval of the National Assembly.

Quarterly report.

5.

The Minister of Federal Capital Territory and the Director of Treasury Federal Capital Territory Administration shall immediately on the coming into effect of this Act furnish the National Assembly, on a quarterly basis, the status of the records of the Federal Capital Territory Statutory Accounts.

Waiver not to incur expenditure.

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