Section 12: Fund of the Agency

(1) The Board shall establish a fund which shall consist of-
(a) such sums as may be provided for it by the Government of the Federation for running the affairs of the Agency;
(b) such sums as may be collected or received by the Agency for services rendered by the Agency;
(c) such sums as may, from time to time, be borrowed by the Agency under this Act; and
(d) such other sums as may be received by the Agency from any other source.
(2) The other resources of the Agency shall consist of all other assets which may, from time to time, be vested in or accrue to the Agency in the course of discharging its functions under or pursuant to this Act.
(3) The Agency may, from time to time, apply the proceeds of the funds established in pursuance of subsection (1) of this section for the following purposes, that is to say-
(a) to the cost of administration of the Agency and any mineral exploration and research work thereof carried on by or on behalf of the Agency;
(b) to the provision of such training for employees of the Agency as the Board may deem necessary;
(c) to reimburse members of the Board and the committees of the Agency for such expenses as may be expressly authorised by the Board; and
(d) in connection with all or any of its functions under this Act or under any other enactment.