Section 66: Proper books of account and audit of the Pension Fund Administrators and Pension Fund Custodians.

(1)
A Pension Fund Administrator or Pension Fund Custodian licensed under this Act shall cause to be kept proper books of account and records of both the pension funds and company operations.
(2)
A Pension Fund Administrator or Pension Fund Custodian shall, not later than three months from the end of the year, cause both the pension funds and company accounts to be audited by qualified external auditors.
(3)
Every Pension Fund Administrator or Pension Fund Custodian shall:
(a)
submit its audited financial accounts to the Commission for approval, not later than four months from the end of its financial year.
(b)
cause to be published the audited accounts approved under paragraph (a) of this subsection in at least two daily newspapers widely circulated in Nigeria within one month of the approval by the Commission; and
(c)
exhibit approved audited accounts in a conspicuous position in each of its offices and branches within 30 days of the approval throughout the financial year.
(4)
Notwithstanding the provisions of subsection (3)(b) and (c) of this section, Closed Pension Fund Administrators and sponsors of approved retirement benefit schemes shall not be required to publish or exhibit their respective approved audited accounts.