Section 5: Fund of the Council

(1) The Council shall establish and maintain a fund for the purpose of this Act.
(2) There shall be paid into the fund established pursuance to subsection (I) of this section-
(a) all fees and other money payable to the Council in pursuance of this Act; and
(b) such money as may be payable to the Council. whether in the course of the discharge of its functions or otherwise;
(c) such money as are held by the Pharmacists Board (in this Act referred to as "the Board") on its ceasing to exist as provided in this Act.
(3) There shall be paid out of the fund of the Council-
(a) the remuneration and allowances of the Registrar and other employees of the Council:
(b) such reasonable travelling and subsistence allowance of members of the Council in respect of the time spent on the business of the Council as the Council may with the approval of the Minister determine; and
(c) any other expenses incurred by the Council in the discharge of its functions under this Act.
(4) The Council may invest moneys in the fund in any security created or issued by or on behalf of the Federal Government or in any other securities in Nigeria approved by the Council.
(5) The Council may, from time to time, borrow money for the purposes of the Council and any interest payable on money so borrowed shall be paid out of the fund.