Public Revenue Flashcards
1
Q
COAD
A
Collect
Organize
Accumulate
Draw up budget
2
Q
162(1)
A
Every revenue must be paid to federation account except from…
3
Q
Revenue Allocation formula
A
Revenue allocation formula prepared by the president through the advice of the Fiscal Commission…
4
Q
AG Fed v. AG Abia
A
Doesn’t include agricultural products, just natural resources.
5
Q
162(3)
A
Money distributed among the 3 tiers of government
6
Q
164(1)
A
Can assists states through grants
7
Q
164(2)
A
Grants to foreign/international bodies for foreign policy.
8
Q
313
A
If no new formula is created then they’ll just rely on the one that has been in existence since Jan 1, 1988
9
Q
AG Lagos v. AG Fed
A
Cannot withhold money though
