Section 13: Annual estimate, account and audit.

(1) The Council shall cause to be prepared, not later than 30th September in each year, an estimate of the expenditure and income of the Scheme during the next succeeding year and when prepared, they shall be submitted to the Minister for approval.
(2) The Council shall cause to be kept proper accounts of the Scheme and proper records in relation thereto and when certified by the Council, the accounts shall be audited by auditors appointed by the Council from the list and in accordance with the guidelines supplied by the Auditor-General of the Federation.
(3) Any member, agent or employee of the Scheme who fails, without reasonable cause, to comply with a requirement of an auditor under subsection (2) of this section, commits an offence and is liable on conviction to a fine not exceeding N10,000 or imprisonment for a term not exceeding three months or to both such fine and imprisonment.