DEFENCE INDUSTRIES CORPORATION OF NIGERIA ACT, 2023

Section 21: Funds of the Corporation.

2023Section 21 of 49Federal Republic of Nigeria

(1) There is established a fund for the corporation ("the Fund") into which shall be credited-
(a) budgetary allocation by the National Assembly;
(b) money provided by the Government for the acquisition of relevant defence production capabilities, including missile and aerospace technology;
(c) money received from the process of any sale, hire or any of the services rendered by the Corporation; and
(d) money as may accrue from such other sources consistent with the objectives and functions of the Corporation.
(2) The Fund established under subsection (1) shall be applied-
(a) to the advancement of the objectives of this Act;
(b) to the cost of administration of the Corporation;
(c) for the development and maintenance of any property vested in or owned by the Corporation; and
(d) for any other expenditure in connection with any of the functions of the Corporation under this Act.

Cite this section

Section 21, DEFENCE INDUSTRIES CORPORATION OF NIGERIA ACT, 2023 (2023).

https://repo.podus.ai/laws/defence-industries-corporation-of-nigeria-act-2023/section/21/