Section 7: Financial provisions.

(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 or credited to the fund established in pursuance of subsection (1) of this section-
(a) such moneys as may from time to time be lent or granted to the Council by the Government of the Federation or a State;
(b) all moneys 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;
(d) all other sums accruing to the Council from any other source.
(3) The accounts of the Council for each year shall be audited as soon as possible after the end of the year to which they relate by auditors appointed by the Council, with the approval of the Minister of Finance and Economic development, from the list of auditors and in accordance with the guidelines supplied by the Auditor-General of the Federation, and the fees of the auditors and the expenses of the audit generally shall be paid by the Council.