NIGERIAN COMMUNICATIONS ACT

Section 19: Budget and expenditure.

2003Section 19 of 158Federal Republic of Nigeria

(1) The Commission shall not later than 30th September in each financial year prepare and present to the National Assembly through the President for approval, a statement of estimated income and expenditure for the following financial year.
(2) Notwithstanding the provisions of subsection (1), the Commission may also, in any financial year, submit supplementary or adjusted statements of estimated income and expenditure to the National Assembly through the President for approval.
(3) Subject to subsections (1) and (2) of this section, the Commission shall apply the proceeds of the Commission's Fund-
(a) to meet the administrative and operating costs of the Commission;
(b) for the payment of salaries, wages, fees and other allowances, retiring benefits such as pensions and gratuities and, any other remunerations payable to the Commissioners and staff of the Commission;
(c) for the purchase or acquisition of property or other equipment and other capital expenditure and for maintenance of any property acquired or vested in the Commission ;
(d) for purposes of investment ; and
(e) for or in connection with all or any of the functions of the Commission under this Act or its subsidiary legislation.

Cite this section

Section 19, NIGERIAN COMMUNICATIONS ACT (2003).

https://repo.podus.ai/laws/nigerian-communications-act/section/19/