Section 12: Establishment, etc., of the National Information Technology Development Fund.

(1) There is established a fund, which shall be known as the National Information Technology Development Fund (in this Act referred to as "the Fund").
(2) There shall be paid and credited into the Fund established under subsection (1) of this section:
(a) a levy of one percent of the profit before tax of companies and enterprises enumerated in the Third Schedule to this Act with an annual turnover of N 100,000,000 and above and such paid by the companies shall be tax deductible;
(b) grants-in-aid and assistance from bilateral and multilateral agencies;
(c) all other sums accruing to the Fund by way of gifts, endowments, bequest or other voluntary contributions by persons and organisations :
Provided that the terms and conditions attached to such gifts, endowments, bequest or contributions will not jeopardize the functions of the Agency;
(d) such monies as may be appropriated for the Fund by the National Assembly; and
(e) all other monies or assets that may, from time to time accrue to the Fund.