Section 27: Terms and conditions for loans and guarantees.

(1) The National Assembly may by a resolution approve, from time to time, standard terms and conditions for the negotiation and acceptance of external loans and issuance of guarantees.
(2) Where the National Assembly has approved the terms and conditions under Subsection (1) of this Section, any agreement entered into by the Federal Government shall come into operation without further reference to the National Assembly: where the terms and conditions are in conformity with the approval.
(3) Notwithstanding the provisions of Subsection (2) of this Section, the National Assembly may by a resolution request that a particular agreement shall be brought before it for further approval.
(4) No agreement in respect of which the approval of the National Assembly is required shall come into operation without such approval.
(5) An approval shall be deemed granted if after 30 days the approval has not been formally communicated to the Minister.