Section 9: Funds of the Agency.

(1)
The Agency shall establish and maintain a Fund from which shall be defrayed all expenditure incurred by the Agency and into which shall be paid and credited -
(a)
fees, charges, and any other income accruing to the Agency from certifications and other things done by it under this Act, excluding fines or penalties recovered under this Act ;
(b)
grants of money or other property, upon such terms and conditions as may be specified by the person or organization making the grants, provided that such terms and conditions are consistent with the objectives and functions of the Agency under this Act ;
(c)
funds allocated to the Agency by the National Assembly, pursuant to a request by the Agency for additional funds required to meet its reasonable expenditures; and
(d)
such other moneys as may vest in or accrue to the Agency, whether in the course of its operations or otherwise.
(2)
There shall be paid into the Fund established under subsection (1) of this section such payments as may be made to the Agency by the Federal Governrnent for the running expenses of the Agency and all other assets accruing, from time to time, to the Agency.
(3)
The Agency may, from time to time, apply the proceeds of the Fund established under this section to -
(a)
the cost of administration of the Agency ;
(b)
reimburse members of the Board or of any committee set up by the Board for such expenses as may be expressly authorised by the Board in accordance with the rates as provided by extant rules and regulations ;
(c)
the payment of salaries, fees or other remuneration, allowances, pensions and gratuities payable :
(d)
the maintenance of any property vested in the Agency ;
(e)
any other expenditure in connection with the functions of the Agency ; and
(f)
remuneration and allowances of the Board members in line with existing Government regulations.
(4)
The Chief Executive officer shall perform all duties as may be stipulated by Government Financial Regulations.
(5)
The Agency shall prepare and submit through its Board to the Minister on or before 31st October of each year a budget showing the expenditures which the Agency proposes to incur in respect of the next financial year in order to carry out the functions of the Agency.