Section 9: Fund of the Council.

(1) There is established for the Council a fund (in this Act referred to as "the Fund") which shall consist of -
(a) budgetary and extra budgetary allocations received from the Government of the Federation, grants and annual subventions;
(b) all money held immediately before the commencement of this Act by the Pharmacists Council of Nigeria;
(c) gifts, loans, endowments, grants-in-aids, testamentary dispositions, bequests or other voluntary contributions where the terms and conditions attached are not inconsistent with the functions of the Council;
(d) all foreign aids and monetary assistance received by the Council under any agreement or arrangement with any international body or organisation with the approval of the Federal Government;
(e) fees and charges for publications and services rendered by the Council; and
(f) such other money received by the Council from investments and other sources.
(2) The Council may apply the Fund established under subsection (1) for -
(a) payment of the costs of administration, charges and expenses of the Council;
(b) discharging the cost of maintaining the head office and other offices of the Council;
(c) the development and maintenance of any property vested in or owned by the Council;
(d) the payment of the allowances and other benefits of members of the Council or any committee set up by it;
(e) payment of emoluments, allowances, benefits and other entitlements of the Registrar and other staff of the Council;
(f) payment for all purchases made by the Council and the training of members of its staff;
(g) provision of scholarships, bursaries and awards for specialised training of members of staff of the Council;
(h) payment to publicise and promote the activities of the Council;
(i) payment to various stakeholders involved in regulatory activities of the Council;
(j) payments for the support of national and international scientific and professional organisations;
(k) maintaining general financial reserves subject to general or specific directives that may be given by the President;
(l) payment of annual and other subscriptions and contributions to national and international scientific and professional organisations;
(m) the payment of all consultancies, legal fees and costs of contracts awarded by the Council; and
(n) any other expenditure as may be approved by the Council, in connection with all or any of its functions and powers under this Act.