Section 12: Accounts and Audit.

(1) The Commission shall in each financial year prepare estimates of each recurrent and capital expenditure and when approved by the Commission, the estimates shall be forwarded to the National Assembly for approval.
(2) The Commission shall keep proper accounts and proper records in relation thereto.
(3) The accounts of the Commission shall be audited by an auditor appointed annually from the list of auditors and in accordance with the guidelines supplied by the Auditor-General for the Federation on such terms as the
Commission may, with the approval of the Minister of Finance determine.