Section 6: Funds of the Institute.

(1) The Council shall establish and maintain for the Institute a fund for the purpose of this Act.
(2) There shall be paid into the Fund of the Institute-
(a) statutory allocation from the Federal Government;
(b) all fees and other money payable to the Council in pursuance of this Act; and
(c) such money as may be payable to the Council, whether in the course of the discharge of its functions or not; and
(d) reseach grants.
(3) There shall be paid out of the Fund of the Institute established under subsection (1) of this section-
(a) the remuneration and allowances of the Registrar and other employees of the Institute;
(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 approve; and
(c) any other expenses approved by the Council in the discharge of its functions under this Act.
(4) The Council may invest money 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 institute, and any interest payable on money so borrowed shall be paid out of the Fund.