PART V- FINANCIAL PROVISIONS
13- (1) The agency shall establish and maintain a fund from Fund Of The Agency
which shall be defrayed all expendure incurred by the agency.
(2) There shall be paid and credited to the fund established
Pursuant to subsection (1) of this section –
(a) Any allocation to the Agency from
the Federation Account;
(b) 20 percent of the Ecological fund Amended By
For the management Of ecologically related disaster;
(b) such monies as may from time to time be grand
to the Agency by the Federal Government r a State
Government or a Laocal Government Council;
(c) such money asma non-
(d) from time be granted or
received from-
(i) The organized private sector,
(ii) International or donor organization and
(iii) Government organizations;
(e) All monies raised for the purpose of the Agency by way
of gifts, loan, grants – in aid, testamentary disposition or
otherwise;
(f) Such money as may be received from the national
Emergency Trust fund and
(g) All other assets that may from
time to time, accrue to the agency
(3) The fund shall be managed in accordance with the rules
made by the president, Federal Republic of Nigeria and without
Prejudice to the generality of the power to make rules under this
Subsection, the contain provisions.
(a) Specifying the manner in which the assets or the fund of
the Agency are to be held and regulating the making of
Payments into and out of the fund; and
(b) Requiring the keeping of proper account and record for
the purpose of the fund in such form as may be specified in
the rules.
14. The Agency shall apply the proceeds of the fund Expenditure of
The Agency
Established pursuant to section 13 of this act to –
(a) The cost of administration of the agency.
(b) The payment of salaries, fees, remuneration, allowances
Pensions and gratuities payable to the Council members and
the employees of the Agency;
(c)The payment for all purchase; and
(d ) undertaking such other activities as are connected with
All or any of the functions of the agency under this Act
15. – ( i) The agency may accept gifts of land, money or Gift to the Agency
Other property on such terms and conditions, if any as may be,
Specified by the person or organization making the gift
(2) The Agency shall have power to award contracts not exceeding the said Award of Contract
Sum of 30 million without the prior approval of the president,
Federal republic of Nigeria’s
17 – (1) The Agency may, with the consent of the President, Power to Borrow
Federal Republic of Nigerian borrow on such terms and conditions
As the Agency may determine, such sums of money as the agency
May require in the exercise of its functions under this Act.
(2)The agency shall not without the approval of the president, Federal Republic of Nigeria: borrow money which exceeds at any time, the limit set by the president, Federal Republic of Nigeria
(3) Notwithstanding subsection (2) of this section, where
The sum to be borrowed is in foreign currency, whether or not it
exceeds the limits set by President Federal Republic of Nigeria .
The Council shall not borrow the sum without the prior approval
Of the President, Federal Republic of Nigeria.
18 – (1) The Council shall, not later than 30th sptember Annual Estimate
and Expenditure
In each year submit to the President, federal Republic of
Nigeria an estimate of the expenditure and income of the
Agency during the next succeeding year.
(2) The Council shall cause to be kept proper accounts of the
Agency in respect of each year and proper records in relation
Thereto and shall cause the accounts to be audited not later than 6
Months after the end of each year by auditor appointed from the
List and in accordance with the guidelines supplied by the Auditor
General for Federation.
19 The Council shall prepare and submit to the President, Annual report
Federal Republic of Nigeria, not later than 30th June in each year, a report
in such form as the president, Federal Republic of Nigeria may direct on the
activities of the Agency during the immediately preceding year, and shall include
in the report, a copy of the audited accounts of the agency for that year and the
auditor’s report thereon.