Section 12: Annual estimates, accounts and audit

(1) The Council shall prepare and submit to the Minister, not later than the 30th day of October of the year in which this Act comes into force and of each subsequent year, an estimate of its income and expenditure for the next succeeding year for the approval of the National Assembly.
(2) The Council shall keep proper account in respect of each year and proper records in relation to those accounts and shall cause its account to be audited within 6 months after the end of each year to which the accounts relate by auditors appointed from the list of auditors supplied by the Auditor-General of the Federation and in accordance with laid down guidelines.