FEDERAL MEDICAL CENTRE, HONG, ADAMAWA STATE (ESTABLISHMENT) ACT, 2022

Section 18: Power of borrow

2022Section 18 of 27Federal Republic of Nigeria

1 The Medical Centre may borrow by overdraft or otherwise such sums as it may require for the performance of its functions under this Act.

2 The Medical Centre shall not, without the approval of the President, borrow money which exceeds, at any time, the limit set by the President.

3 Notwithstanding subsection (1), where the sum to be borrowed is in foreign currency, the Medical Centre shall not borrow the sum without the prior approval of the President.

Cite this section

Section 18, FEDERAL MEDICAL CENTRE, HONG, ADAMAWA STATE (ESTABLISHMENT) ACT, 2022 (2022).

https://repo.podus.ai/laws/federal-medical-centre-hong-adamawa-state-establishment-act-2022/section/18/