Section 26: Establishment of Colleges of Education Fund

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