Section 8: Financial provisions

(1) The Authority shall maintain a fund which shall consist of such moneys as may-
(a) from time to time be provided by the Federal Government by way of loan or grant;
(b) be received by the Authority in the course of its operations or in relation to the exercise of any of its powers, and from such fund there shall be defrayed all expenses incurred by the Authority.
(2) Subject to any general or special direction that may be given in that behalf by the Minister pursuant to section 7 of this Act, the Authority may invest its funds and maintain a general financial reserve.
(3) The Authority shall keep proper accounts and proper records in relation thereto, and shall prepare in respect of each financial year a statement of accounts in such form as the President may direct.
(4) The Authority shall as soon as may be after the end of the financial year to which the accounts relate, cause the accounts to be audited by auditors appointed from the list and in accordance with the guidelines supplied by the Auditor-General for the Federation.