Table of Contents
Section 120 (1)
All revenues or other moneys raised or received by a State (not being revenues or other moneys payable
under this Constitution or any Law of a House of Assembly into any other public fund of the State established for a specific purpose) shall be paid into and form one Consolidated Revenue Fund of the State.
(Money raised or revenue generated or received y a state is to be paid into and form one Consolidated Revenue Fund of that State except funds generated by the State payable under this Constitution or if a law has been created by the House of Assembly specifying funds of the State be used for a specific purpose.)
Section 120 (2)
No moneys shall be withdrawn from the Consolidated Revenue Fund of the State except to meet expenditure that is charged upon the Fund by this Constitution or where the issue of those moneys has been authorised by an Appropriation Law, Supplementary Appropriation Law or Law passed in pursuance of section 121 of this Constitution.
(The funds contained in the Consolidated Revenue Fund shall only be used where it is to meet whatever expenses the Constitution has stated it to pay or authorization has been given by an Appropriation Law, Supplementary Appropriation Law or Law passed in accordance with section 121 of this Constitution.)
Section 120 (3)
No moneys shall be withdrawn from any public fund of the State, other than the Consolidated Revenue Fund of the State, unless the issue of those moneys has been authorised by a Law of the House of Assembly of the State.
(Public funds of a state shall only be withdrawn from the Consolidated Revenue Fund of the State except in situations where a law of the House of Assembly of State authorizes such withdrawal of public fund.)
Section 120 (4)
No moneys shall be withdrawn from the Consolidated Revenue Fund of the State or any other public fund of the State except in the manner prescribed by the House of Assembly.
(Only the State House of Assembly can state how money/ funds can be withdrawn from the Consolidated Revenue Fund or any other public fund.)
Section 121(1)
The Governor shall cause to be prepared and laid before the House of Assembly at any time before the
commencement of each financial year estimates of the revenues and expenditure of the State for the next
following financial year.
(It is the Governor’s duty to prepare and bring before the State House of Assembly anytime before the beginning of a new financial year an estimate of the revenues (funds coming in) and expenditures (expenses) of the State for the next financial year.)
Section 121 (2)
The heads of expenditure contained in the estimates, other than expenditure charged upon the Consolidated Revenue Fund of the State by this Constitution, shall be included in a bill, to be known as an Appropriation Bill, providing for the issue from the Consolidated Revenue Fund of the State of the sums necessary to meet that expenditure and the appropriation of those sums for the purposes specified therein
(This section creates the Appropriation Bill which will consist of the heads of expenditure (expenses) of the State Government in estimates. This bill will provide for issues which need to be met by withdrawing funds from the Consolidated Revenue Fund. This bill contains an appropriation of sums (money) (i.e. legislation of/ set aside money for a specific purpose) which is specified in it.)
Section 121 (3)
Any amount standing to the credit of the judiciary in the Consolidated Revenue Fund of the State shall be
paid directly to the heads of the courts concerned.
(The Judiciary of a State are to be paid directly from the Consolidated Revenue Fund of the State through the heads of Court concerned)
Section 121 (4)
If in respect of any financial year, it is found that –
(If it is found out in respect of any financial year that; )
Section 121 (4)(a)
the amount appropriated by the Appropriation Law for any purpose is insufficient; or
(The amount of money which has been estimated and contained in the Appropriation Law is insufficient; or )
Section 121 (4)(b)
a need has arisen for expenditure for a purpose for which no amount has been appropriated by the Law,
(An important but unplanned expenditure (expense) which was not contained in the Appropriation Law comes up; )
a supplementary estimate showing the sums required shall be laid before the House of Assembly and the heads of any such expenditure shall be included in a Supplementary Appropriation Bill.
(A supplementary estimate which contains the funds needed will be brought before the State House of Assembly and the heads of such expenditure (like in the Appropriation Bill) shall be contained in the Supplementary Appropriation Bill.)
Compare with that of the Federal Government here
