Section 114: Universal service provision fund.

(1) For the purposes of this Act, a fund to be known as the "Universal Service Provision Fund" ("USP Fund") is established and it shall be controlled and operated in the manner specified in this Chapter.
(2) The USP Fund shall comprise funds derived from but not limited to the following sources-
(a) such monies as may be specifically appropriated to the USP Fund from time to time by the National Assembly ;
(b) contributions from the Commission based on a portion of the annual levies paid to the Commission by licensees ; and
(c) gifts, loans, aids, and such other assets that may from time to time specifically accrue to the USP Fund.
(3) The administrative and operational expenses for USP shall be funded directly from the USP Fund and such expenses shall include;
(a) salaries, emoluments, remunerative packages, howsoever called, and allowances for
(i) Universal Service Provision Board Members;
(ii) the Commission staff who are assigned on full-time basis to the USP Secretariat or such other staff of the USP Secretariat howsoever engaged ; and
(iii) USP Fund Managers.
(b) Operational expenses for the activities of the USP Board, USP Secretariat and USP Fund Managers.
(4) The Commission shall ensure that the USP Fund is at all times totally separated from the Commission's Fund under Part IV of Chapter II and transparently maintained and operated as such.
(5) Independent auditors appointed for that purpose by the Board shall audit the USP Fund annually and the auditor's report shall be presented to the National Assembly and published to the public provided that such auditors are on the list of auditors approved from time to time by the Federal Accountant-General for the Federation.