Section 28: Financial provisions

(1) The Council shall maintain a fund which shall consist of-
(a) such monies as may, from time to time, be provided by the Federal Government by way of grants;
(b) such monies as may be specified by the Council to be provided, from time to time, by the Nigeria Union of Journalists, the Nigerian Guild of Editors, the Newspaper Proprietors Association of Nigeria and the Broadcasting Organisation of Nigeria; and
(c) such monies as may be received by the Council in relation to the exercise of its functions under this Act.
(2) The Council shall keep proper accounts and proper records in relation thereto and shall prepare in respect of each year a statement of its accounts.
(3) The Council shall, within six months after the end of each year to which the accounts relate, cause the accounts to be audited by auditors appointed by the Council from the list and in accordance with the guidelines supplied by the Auditor-General for the Federation.