Section 10: Establishment of the National Boards for Technical Education Fund.

(1) There shall be established by the Board, a fund to be known as the National Board for Technical Education Fund.
(2) There shall be paid and credited to the fund established in pursuance of subsection (1) of this section-
(a) such sums as may be made available to the Board for the purpose of making grants to polytechnics and colleges of technology in pursuance of paragraph (d) of section 5 of this Act; and
(b) such sums as may. from time to time, be credited to the fund by way of payment of the principal and interest on and other charges in respect of any loan made out of the fund, and also any interest from investments made from the fund.
(3) The fund shall be managed in accordance with rules made by the Minister for Finance; and, without prejudice to the generality of the power to make rules under this subsection, the rules shall in particular contain provisions-
(a) specifying the manner in which the assets of the funds are to be held, and regulating the making of payments into and out of the fund;
(b) requiring the keeping of proper accounts and records for the purposes of the fund in such form as may be specified in the rules;
(c) requiring copies of the accounts to be audited periodically by the Auditor- General for the Federation; and
(d) requiring copies of accounts and of the auditor's report on them to be furnished to the President through the Minister