(2021)
SECTION 1
1 The Director of Treasury of the Federal Capital Territory Administration shall, when authorised to do so by warrants signed by the 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 the financial year 2021 the sum specified by the warrants, not exceeding in the aggregate N329,963,491,523.00 (three hundred and twenty nine billion, nine hundred and sixty-three million, four hundred and ninety-one thousand, five hundred and twenty three Naira) only. 2 The amount mentioned in subsection (1) shall be appropriated to heads of expenditure as indicated in the Schedule to this Act. [Schedule]
Issue and Appropriation of N329,963,491,523.00 from the Federal Capital Territory Administration Statutory Revenue Fund.
SECTION 2
All amounts appropriated under this Act shall be made from the Federal Capital Territory Administration Statutory Revenue Fund only for the purposes specified in the Schedule to this Act. [Schedule]
Release of fund.
SECTION 3
1 All revenues accruing to the Federal Capital Territory Administration including the statutory revenue distribution shall be paid into the Federal Capital Territory Administration Statutory Revenue Account. 2 No money shall be withdrawn from the Account mentioned in subsection (1) without appropriation by the National Assembly.
Payment of revenue into the Federal Capital Territory Administration Statutory Revenue Account.
SECTION 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.
Virement.
SECTION 5
The Minister of Federal Capital Territory and the Director of Treasury Federal Capital Territory Administration shall immediately upon 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.
Quarterly Report.
SECTION 6
Where, due to revenue shortfall, amounts appropriated under this Act cannot be funded, the Minister of Federal Capital Territory shall seek from the National Assembly a waiver not to incur such expenditure.
Waiver not to incur expenditures.
SECTION 7
This Act may be cited as the Federal Capital Territory Appropriation Act, 2021.
Citation.
