Section 4: Powers of the Authority

(1) Subject to this Act, the Authority shall have power to do anything which in its opinion is calculated to facilitate the carrying out of its functions including (without prejudice to the generality of the foregoing) the power to-
(a) sue and be sued in its corporate name;
(b) acquire, hold and manage movable or immovable property;
(c) acquire, construct and maintain dwelling houses, schools, communal and commercial buildings, and other structures;
(d) enter into contracts for the construction, maintenance, management or repairs of any property;
(e) purchase or otherwise acquire any assets, business or other property where, in the opinion of the Authority, such purchase or acquisition is necessary for the proper discharge of its functions under this Act;
(f) sell, let, lease or otherwise dispose of any property vested in the Authority
(g) borrow money for the operations of the Authority but where the amount of any particular loan is not less than N200,000 that amount may only be borrowed with the prior approval of the President;
(h) undertake or sponsor the undertaking of such research as may be necessary for the performance of its functions;
(i) train managerial, technical and other staff for the purpose of running the Authority's operation.
(2) For the avoidance of doubt, it is hereby declared that the provisions of subsection (1) of this section relate only to the capacity of the Authority as a statutory corporation, and nothing in those provisions shall be construed as authorising the disregard by it of any enactment or rule of law.
(3) The powers conferred on the Authority under this Act may be exercised by or through any employee or agent of the Authority authorised in that behalf by the Authority.