MONITORING OF REVENUE ALLOCATION TO LOCAL GOVERNMENTS ACT
Section 6: Limit on power of State Government or Federal Capital Territory for borrowing money.
2005Section 6 of 10•Federal Republic of Nigeria
(1) The power of State Governments for borrowing money shall not extend to the money, funds or revenue allocated to Local Government Councils from the Federation Account and from the State concerned.
(2) The power of the Federal Capital Territory for borrowing money shall not extend to the money, funds or revenue allocated to Area Councils from the Federation Account, and from the Federal Capital Territory.
Cite this section
Section 6, MONITORING OF REVENUE ALLOCATION TO LOCAL GOVERNMENTS ACT (2005).
https://repo.podus.ai/laws/monitoring-of-revenue-allocation-to-local-governments-act/section/6/