Section 4: Financial provisions.

(1) There shall be paid out of the Development Fund or the Consolidated Revenue Fund, on the warrant of the Minister, all sums required for the purposes of paying-
(a) the subscription payable to the Fund in accordance with section 2 of Article II of the Fund Agreement and the Resolution of the Board of Governors of the Fund relating to membership of the Federation in the Fund;
(b) any sums payable to the Fund under paragraph (b) or paragraph (d) of section 8 of Article IV of the Fund Agreement (which relates to changes in the par or foreign exchange values of currencies of members);
(c) any sums required for implementing the guarantee required by section 3 or Article XIII of the Fund Agreement, that is to say, a guarantee of the assets of the Fund against loss resulting from failure or default of the depository designated by the Federal Government under the said Article;
(d) any compensation required to be paid to the Fund or to any member thereof under Schedule D of the Fund Agreement (which relates to the withdrawal of members from the Fund) or under Schedule E thereof (which relates to the liquidation of the Fund);
(e) the moneys on account of the subscription for shares in the Bank under Article II of the Bank Agreement (including any sums payable to the Bank under section 9 of that Article relating to changes in the par or foreign exchange values currencies of members), and the Resolution of the Board of Governors of the Bank relating to membership of the Federation in the Bank;
(f) any amounts required to be paid to the Bank under head (iv) of paragraph (c) of section 4 of Article VI of the Bank Agreement;
(g) the moneys payable on account of the subscription for shares in the Corporation under Article II of the Corporation Agreement and the Resolution of the Board of Governors of the Corporation relating to membership of the Federation in the Corporation not exceeding in the aggregate, the sum of three hundred and sixty-nine thousand United States Dollars;
(h) any amounts required to be paid to the Corporation under head (iii) of paragraph (c) of section 4 of Article V of the Corporation Agreement;
(i) subject to the provisions of section 6 of this Act, all sums required to be paid on behalf of the Federal Government under the Association Agreement, that is to say-
(i) paragraph (a) to (d) of section 2 of Article II (which relate to the initial subscription of members);
(ii) paragraph (a) of section 2 of Article IV (which relates to changes in the par or foreign exchange value of currencies of members);
(j)
any amounts or charges required to be paid to the Fund, the Bank, the Corporation or the Association, such amounts or charges being incidental to the Federal Government's membership thereof respectively, or to the operations or transactions in relation thereto,
and for the purpose of providing any sums to be paid out of the Development Fund of the Federation or the Consolidated Revenue Fund of the Federation as aforesaid, moneys may, if required, from time to time, be borrowed in the manner provided in the Treasury Bills Act, or the Local Loans (Registered Stock and Securities) Act (but without prejudice to any other method of raising the moneys) without any authorisation of the National Assembly other than this section and any moneys so borrowed shall be paid into the Consolidated Revenue Fund of the Federation.
[Cap. T18, Cap. L17]
(2) The Minister may, if he thinks it fit so to do, create and issue to the Fund, the Bank or the Association, in such form as he thinks fit, any such non-interest-bearing and non-negotiable notes or other obligations as are provided for by section 5 of Article III of the Fund Agreement, by section 12 of Article V of the Bank Agreement and by paragraph (e) of section 2 of Article II of the Association Agreement (which sections relate to the acceptance by the Fund, the Bank or the Association, as the case may be, of notes or similar obligations in place of currency), and the sums payable under such notes or obligations so created and issued shall be charged on the Consolidated Revenue Fund of the Federation.
(3) Any sums received by the Federal Government from the Fund (other than sums received by reasons of the operations or transactions under Article V of the Fund Agreement), any sums received by the Federal Government from the Bank or the Corporation on account of its subscriptions to the capital stock thereof and any sums received by the Federal Government from the Association on account of its subscription therein or of supplementary resources provided by it, shall be paid into the Consolidated Revenue Fund of the Federation.