Section 11: Financial provisions.

(1) The funds of the Commission shall consist of-
(a) all such sums as may be charged by the Commission as fees, commission or dues for its services;
(b) all revenue accruing to or vested in the Commission by way of grants-in-aid or otherwise howsoever;
(c) any other moneys saved by the Commission such as proceeds from the operation of the Pilgrim Savings Scheme or borrowed pursuant to the provisions of this Act or any other enactment; and bequests, gifts and donations.
(2) In respect of the revenue of each financial year, the Commission shall, except in the case of the first pilgrimage after commencement of this Act, prepare and submit to the President not later than three months before every pilgrimage an estimate of its expenditure and income during the next succeeding financial year; provided that the Commission shall submit an advance estimate whenever it is requested to do so by the President
(3) Subject to the prescribed rules, the Commission shall keep proper account and records in relation to its fund in accordance with the Public Accounts Rules and Guidelines issued by the Accountant-General of the Federation.
(4) The Commission shall cause its accounts to be audited not later than six months after the end of each financial year to which the accounts relate and the auditors shall be appointed from a list of Auditors approved by the Auditor-General of the Federation.
(5) The Commission shall open and operate bank accounts, and may take advances, borrow money or undertake financial transaction in accordance with extant financial regulation.