FEDERAL INSTITUTE OF INDUSTRIAL RESEARCH (ESTABLISHMENT) ACT, 2023.

Section 29: Borrowing and investment powers of the Institute.

2023Section 29 of 40Federal Republic of Nigeria

(1) The Institute may, with the consent or in accordance with any general authority given by the Board, borrow by way of loan or overdraft, any specified amount of money required by the Institute for its obligations and functions under this Act in accordance with extant laws and regulations.
(2) The Institute may, subject to the provisions of this Act and the conditions of any trust created in respect of any property, invest any of its funds with the consent or general authority of the Board.
(3) The Institute may invest any of its surplus funds in such securities as the Board may approve.

Cite this section

Section 29, FEDERAL INSTITUTE OF INDUSTRIAL RESEARCH (ESTABLISHMENT) ACT, 2023. (2023).

https://repo.podus.ai/laws/federal-institute-of-industrial-research-establishment-act-2023/section/29/