Section 22: Appointment of Chairman and other members Tourism Development Fund Management Board.

(1) The Tourism Development Fund shall consist of the Chairman, Director-General and other members of the Board of the Authority appointed by the President, on the recommendation of the Minister, to manage the Tourism Development Fund.
(2) The money for the Tourism Development Fund shall be domiciled with CBN in accordance with the Treasury Single Account policy.
(3) In furtherance of subsection (1), the Management Board shall -
(a) arrange for the effective and efficient collection of money assigned to the Tourism Development Fund;
(b) identify other sources of funding;
(c) co-ordinate and ensure total and timely accountability of the Tourism Development Fund;
(d) prepare and publish procedures for disbursement of the Tourism Development Fund;
(e) formulate general financial strategies and policies for the growth of the Tourism Development Fund;
(f) evaluate, approve, review and monitor the execution of projects and programs approved for funding by the Authority;
(g) determine the certification necessary to ensure that work is completed according to specification;
(h) review the annual programmes and projects submitted by the public and private sector agencies for funding;
(i) provide financial investments by whichever instrument deemed desirable and beneficial in tourism, travel and hospitality development projects by tourism operators in the six geo-political zones and the Federal Capital Territory as the Management Board may approve;
(j) disburse approved funds and provide a framework for which registered and accredited tourism enterprises can access investment and financial incentives for the development of tourism and hospitality facilities;
(k) to manage and disburse resources from the Tourism Development Fund for the development of national standards in training and human resource skills and capacity building in hospitality and tourism; and
(l) subject to any general or special direction by the Management Board invest the Tourism Development Fund and maintain general financial reserves.