Section 44: Annual account.

(1) The Authority shall cause to be prepared, not later than 30 September in each year, an estimate of the expenditure and income of the Authority during the succeeding year and when prepared, they shall be submitted to the National Assembly for appropriation.
(2) The Authority shall cause to be kept proper accounts of the Authority and proper records in relation to it and such accounts shall be audited by auditors appointed by the Authority from the list and in accordance with the guidelines supplied by the Auditor-General for the Federation.
(3) Any member, agent or employee of the Authority who fails, without reasonable cause, to comply with a requirement of an auditor under subsection (2), commits an offence and is liable on conviction to a fine not more than N2,000,000 or imprisonment for a term not more than three years or both.