Section 24 Federal Competition and Consumer Protection Act 2018

Section 24 of the Federal Competition and Consumer Protection Act 2018 is about Expenditures of the Commission. It is under Part V (Financial Provisions) of the Act.

(1) The Commission shall apply the proceeds of the Fund to-
(a) the cost of administration of the Commission; and

(b) the payment of salaries, fees, remuneration, allowances, pensions and gratuities payable to the members and the employees of the Commission, as the case may be;

(c) the payment for all consultancies, contracts, including mobilisation, fluctuations, variations, legal fees and cost on contract administration as may be permissible under applicable laws;

(e) the payment for all purchases; and
(f) undertake such other activities as are connected with all or any of the functions of the Commission under this Act.

(2) Any excess of the Commission’s revenue for any year over the approved expenditure for that year shall be remitted to the Consolidated Revenue Fund of the Federation.