Section 17: Fund of the College.

(1) The College shall establish and maintain a fund (in this Act referred to as "the Fund") which shall be applied towards the promotion of the objectives of this Act.
(2) There shall be paid and credited to the Fund-
(a) such sums as may be granted by the Federal Government through the National Commission for Colleges of Education;
(b) all money raised by the Council by way of gifts, grants-in-aid or testamentary disposition; and
(c) all subscription fees and charges for services rendered by the Council and all other sums that may accrue to the Council from any source.
(3) The Council shall submit to the Minster, through the National Commission for Colleges of Education, not later than three months before the end of each financial year or at such other time as he may direct, an estimate of its revenue and expenditure for the next succeeding financial year.