THE FEDERAL CONSTITUTION
The 1999 constitution is the amended version of the 1979 Constitution of the Federal Republic of Nigeria, which was an offshoot, not only of the 本文来自优.文,论~文^网原文请找腾讯324,9114(or ancestors). The Constitution was reviewed in 1989 and
1994, with no hope for implementation until May 1999 when the new civilian government was sworn in. It was promulgated as constitution of the Federal Republic of Nigeria (Decree No 24), 1999 and published in the Federal Republic of Nigeria official Gazette on 5th May 1999 In Lagos. The Constitution is supposed to be a legal document that regulates not only government accounting but the whole aspects of financial management in government.
In Chapter V, part 1 (E) of the Constitution, the National Assembly was given certain powers and control over public funds as a way of regulating and controlling the operation of the different types of government funds. Section 120(1), which is on the Establishment of Consolidated Revenue Fund (CRF), says “All Revenues or other moneys raised or received by the Federation (not being revenue 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”.
On the withdrawal of money by the government for public services, section 120(2) says “No moneys shall be withdrawn from the Consolidated Revenue Fund of the Federal except to meet expenditure that is charged upon the fund by this Constitution or where the issue of those moneys has been authorized by an appropriation Act. Supplementary Appropriation Act or an Act passed in Pursuance of Section 121 of this constitution”
These two sub-sections formed the basis for the idea of Fund Accounting which was defined as the method of accounting which reports in terms of funds rather than in terms of organizations. Other sections with the objectives of financial regulations at Federal government level are on withdrawal of money from other Public fund Section
120 (3), Authorization of expenditure in default of Appropriation Section (127), Contingencies Fund Section (123), Remuneration of the President and certain other officers Section (127) and Audit of Public accounts Section (125),
All the sections of the constitution mentioned above are meant to give a perfect guidance as to the financial planning and control of the federal government. The constitutional emphasis on the concept of check and balance between the legislature and the executive arms of government is enough concern for a need to instill proper accountability and sound control over the Public Funds. But unfortunately, the constitution is almost always under suspension by the Military. Decrees, which would be skewed towards the interest of the military junta, are, in the greater part of Nigeria's post-independence period, the supreme laws of the land. The constitutional provisions, which are determined by the representatives of the masses and implemented by them,
are a better means of attaining accountability and control over public funds. The question is when would the Provisions have way for effective financial regulations at the Federal Government level?
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