Section 17: Financial provisions

(1) The Corporation 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 loan, grant or otherwise howsoever;
(b) such monies as may be received by the Corporation in the course of its operations or in relation to the exercise of its powers and from such fund there shall be defrayed all expenses incurred by the Corporation.
(2) Subject to any general or special direction that may be given in that behalf by the Minister pursuant to this Act, the Corporation may invest its funds and maintain general financial reserves.
(3) The Corporation shall keep proper accounts and proper records in relation thereto and shall prepare in respect of each year a statement of accounts in such form as the Minister may direct.
(4) The Corporation shall cause its accounts to be audited within six months after the end of each year by external auditors appointed from the list and in accordance with guidelines supplied by the Auditor-General for the Federation.