The 1999 Constitution

Section 80 (1)

All revenues or other moneys raised or received by the Federation (not being revenues or other moneys payable under this Constitution or any Act of the National Assembly into any other public fund of the Federation established for a specific purpose) shall be paid into and form one Consolidated Revenue Fund of the Federation.

(This means that revenues or money raised or received by the Federal Government shall be paid into a particular account and that account shall form an account called Consolidated Revenue Fund. The exception to this will be revenues or any other money which has been stated under this Constitution or by any Act of the National Assembly to be paid into any other public fund of the Federal Government for a specific purpose.)

Section 80 (2)

No moneys shall be withdrawn from the Consolidated Revenue Fund of the Federation except to meet expenditure that is charged upon the fund by this Constitution or where the issue of those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 Act, Supplementary Appropriation Act or an Act passed in pursuance of section 81 of this Constitution.

(Withdrawals from the Consolidated Revenue Fund of the Federal Government shall not be made unless in order to meet up with certain expenditures i.e. expenses which have been stated by this Constitution to be deducted from the Consolidated Revenue Fund or in certain situations where authorization to withdraw from the CRF has been made by an Appropriation Act, Supplementary Appropriation Act or and Act which has been passed in accordance with Section 81 of this Constitution.)

Section 80 (3)

No moneys shall be withdrawn from any public fund of the Federation, other than the Consolidated Revenue Fund of the Federation, unless the issue of those moneys has been authorised by an Act of the National Assembly.

(Moneys to be used by the Federal Government shall be withdrawn from only the Consolidated Revenue Fund and not any public fund of the Federal Government unless the issue of moneys from any public fund has been authorized by an Act of the National Assembly.)

Section 80 (4)

No moneys shall be withdrawn from the Consolidated Revenue Fund or any other public fund of the Federation, except in the manner prescribed by the National Assembly.

(When withdrawing money from the Consolidated Revenue Fund or any other public fund of the Federal Government, such withdrawal must be strictly done in the manner prescribed by the National Assembly.)

Section 81 (1)

The President shall cause to be prepared and laid before each House of the National Assembly at any time in each financial year estimates of the revenues and expenditure of the Federation for the next following financial year.

(Every year, the President of the Federal Republic of Nigeria shall prepare and lay before each house of the National Assembly i.e. The Senate and House of Representatives, an estimate of the revenues and expenses of the Federal Republic of Nigeria in preparation of the next following financial year. This should be done at any time in each financial year.)

Section 81 (2)

The heads of expenditure contained in the estimates (other than expenditure charged upon the Consolidated Revenue Fund of the Federation 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 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 Federal 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 81 (3)

The amount standing to the credit of the –

a. Independent National Electoral Commission,
b. National Assembly, and
c. Judiciary,
in the Consolidated Revenue Fund of the Federation shall be paid directly to the said bodies respectively; in the case of the Judiciary, such amount shall be paid to the National Judicial Council for disbursement to the heads of the courts established for the Federation and the States under section 6 of this Constitution.

(The Independent National Electoral Commission (INEC), the National Assembly shall be paid directly from the Consolidated Revenue Fund of the Federal Republic of Nigeria. In the case of the Judiciary, the account of the National Judicial Council shall be credited to be distributed by it to the heads of the Courts of the Federation and the States. This is done in line with Section 6 of this Constitution.)

Section 81 (4)

If in respect of any financial year it is found that –

a. the amount appropriated by the Appropriation Act for any purpose is
insufficient; or
b. a need has arisen for expenditure for a purpose for which no amount
has been appropriated by the Act,
a supplementary estimate showing the sums required shall be laid before each House of the National Assembly and the heads of any such expenditure shall be included in a Supplementary Appropriation Bill.

(If it is realized within a financial year that either the amount of money appropriated by the Appropriation Act for any specific purpose is not enough or a need has arisen which would require expenses to be made and it has not been appropriated (specified) by the Appropriation Act then a supplementary (additional law) which will show an estimate of the amount of money needed shall be brought before each House of the National Assembly. The heads of each of these expenses, like the Appropriation Bill, will be included in a Bill called the Supplementary Appropriation Bill.)

Everything concerning the National Assembly under the 1999 Constitution is here.