Section 19 Nigeria Data Protection Act 2023
Section 19 of the Nigeria Data Protection Act 2023 is about Funds of the Commission. It is under Part IV (Financial Provisions) of the Act.
(1) The Commission shall establish a Fund (in this Act referred to as “the Fund”) for the performance of its functions under this Act.
(2) There shall be paid into the Fund established under subsection (1) —
(a) a take-off grant as may be appropriated by the National Assembly which shall be drawn in the following manner —
(i) 20% of the take-off grant shall be from the Consolidated Revenue Fund of the Federation,
(ii) 40% of the take-off grant shall be from the Nigerian Communications Commission, and
(iii) 40% of the take-off grant shall be from the National Information Technology Development Agency ;
(b) donations, gifts, loans, grants, aids, endowments, and voluntary contributions ;
(c) returns on investments of the Commission ;
(d) levies, fees, penalties, and fines collected by the Commission ; and
(e) such other money or assets that may accrue to the Commission.
(3) 50% of the total amount of the take-off grant shall be provided to the Commission on the commencement of this Act, and the remaining 50% of the take-off grant shall be provided on the anniversary of the date on which this Act commences.
(4) Subject to any applicable law, the Commission may borrow such sums of money, as may be required in the performance of its functions under to this Act.
