Section 23: Internal Borrowing

(1) The Bureau, with the approval of the Minister, shall, at the beginning of each financial year, issue guidelines identifying the level, nature and procedure by the Federal, States or Local Governments or any agencies on borrowing.
(2) Banks and other financial institutions shall ensure that their lending to those bodies referred to in subsection (1) of this section is in compliance with guidelines issued pursuant to this provision.
(3) Any loan transaction by the Federal, State or Local Government or any of their agencies in contravention of this section shall be unlawful.