Section 26: Loan receipts to form part of the Consolidated Revenue Fund of the Federation.

(1) Any monies received in respect of any loan contracted by the Federal Government shall be-
(a) paid into and form part of the Consolidated Revenue Fund of the States;
(b) paid into any other public fund of the State either existing at the time or created for the purpose of the loan; and
(c) applied solely for the purpose for which it was obtained and in accordance with the terms and condition of the agreement under which it was obtained.
(2) Any monies received in respect of any guaranteed loan on behalf of a State Government shall be-
(a) paid into and form part of the Consolidated Revenue Fund of the state;
(b) paid into any other public fund of the State either existing at the time or created for the purpose of the loan ; and
(c) applied solely for the purpose for which it was obtained and in accordance with the terms and condition of the agreement under which it was obtained.
(3) Where any amount has become paid out of the monies credited to the Consolidated Revenue Fund of the Federation or of a State or other public funds under subsection (1) or (2) of this Section, the amount shall be deemed to be a charge on the Consolidated Revenue Fund of the Federation or of a State, as the case may be, or such other public funds into which the monies have been paid.