Section 12: Expenditure of the Council, etc.

(1) The Council may from time to time apply the proceeds of the fund established pursuant to section 11 of this Act-
(a) to the cost of administration of the Council;
(b) for reimbursing members of the Council or of any committee set up by the Council for such expenses as the Council thinks fit;
(c) to the payment of salaries, fees or other remuneration or allowances and pensions, superannuation allowances and gratuities payable to the officers and servants of the Council, so however that no payment of any kind under this paragraph (except such as may be expressly authorised by the Council) shall be made in Nigeria to any person who is in receipt of emoluments from the Federal Government or a State;
(d) to the repayment of any money borrowed under section 10 or of any interest payable thereon;
(e) for the maintenance of any property acquired by or vested in the Council; and
(f) for and in connection with all or any of the functions of the Council under this Act or any other written law.
(2) The Council may from time to time invest money standing to its credit in such manner and to such extent as the Council may think necessary or expedient.