Section 15: Fund of the Council.

(1) The Council shall establish and maintain a fund from which shall be defrayed all expenditure incurred by the Council.
(2) There shall be paid and credited to the fund established pursuant to subsection (1) of this section-
(a) such monies as may from time to time be lent or granted to the Council by the Government of the Federation or of a State;
(b) all monies raised for the purposes of the Council by way of gift, grant-in-aid, testamentary disposition or otherwise;
(c) all subscriptions or fees and charges for services rendered by the Council (except that no charges shall be made for services performed for the Government of the Federation or of a State or for such other public bodies or institutions as may be exempted by the Board);
(d) all interests received in respect of monies invested by the Council; and
(e) all other assets from time to time accruing to the Council.
(3) The fund shall be managed in accordance with guidelines given by the Minister and without prejudice to the generality of the power to give guidelines under this subsection, the guidelines shall in particular contain such provisions-
(a) specifying the manner in which the assets of the fund are to be held, and regulating the making of payments into and out of the fund;
(b) requiring the keeping of proper accounts and records for the purposes of the fund in such form as may be specified in the guidelines;
(c)
securing the accounts to be audited annually by auditors appointed from the list approved by the Auditor-General for the Federation, and requiring copies of the accounts and of the auditors' report to be furnished to the President through the Minister immediately after the end of the period to which the accounts relate.