SOURCES OF FUND
The Ministry will source its fund from the following among other sources:
The financial year of the Ministry shall be 1st January to 31st December
The Ministry will source its fund from the following among other sources:
- Contributions by members of the Ministry
- Loans and donations from its directors, associates, friends and well wishers
- Voluntary contributions, endowments, grants etc., from individuals and bodies who share the aspirations and objectives of the Ministry
- Subvention from philanthropic bodies and public and private agencies
- Grants from international organizations and national research and developmental agencies including religious bodies for specific projects
- Revenue from consultancy and other services rendered by the Ministry
- Sale of publications and other property of the Ministry
- Loans, overdrafts, interest, premiums, etc., from banks and other lawful financial institutions
- Any other lawful sources as may be approved by the management of the Ministry and consistent with the goals and aspirations of the Ministry
The financial year of the Ministry shall be 1st January to 31st December
- The Ministry will maintain bank accounts in recognized banks in Nigeria and abroad as may be necessary for its operations and as approved by the board of trustees on the recommendation of the management.
- The signatories to the accounts of the Ministry will be as follows, until otherwise approved by the Board of Trustees on the recommendation of management
- (a) Constant: Emeritus Professor (Dn.) Adetoye Faniran – Executive Secretary
- (b) Any one of (1) The Ministry’s Accountant
- A nominee of the Board of Trustees
- The Executive Secretary will be the accounting officer of the Ministry
- The accounts of the Ministry will be audited by a firm of accountants to be appointed by the Board of Trustees on the recommendation of the Management. The auditors’ report will be taken at the general meeting of the Ministry so designated.
- The membership of the Ministry will comprise those who agree with the vision, mission and strategies of the Ministry. In general terms, the following shall have the right of membership of the Ministry.
- Any responsible person invited by Management and approved by the Board of Trustees of the Ministry as deserving to the extent that he/she shares the concerns, vision, mission and goals of the Ministry.
- Any organization/institution attested to by the Management and approved by the Board of Trustees as deserving, shares similar vision, missions and strategies and exudes similar commitment for the basic goals of the Ministry. These will be termed affiliate members
- Membership is open to all persons and organization anywhere in the world
- Members shall be categorized into:
- Staff of the Ministry, including the Management staff
- Trustees
- Advisors and Patrons
- Ordinary members including corresponding members
- Associates of the Ministry, including affiliated institutions/organization.
- The operational organs will comprise the Management or senior staff and trustees, acting on behalf of the Ministry