FEDERAL ROADS MAINTENANCE AGENCY (ESTABLISHMENT, ETC.) ACT

Section 20: Power to borrow

2002Section 20 of 32Federal Republic of Nigeria

(1) The Agency may, from time to time, borrow such sums as it may require for the performance of its functions under this Act.
(2) The Agency shall not, without the approval of the Minister, borrow money which exceeds, at any time, the amount set by the Minister.
(3) Notwithstanding subsection (1) of this section, where the sum to be borrowed is in foreign currency, the Agency shall not borrow the sum without the prior approval of the Minister.

Cite this section

Section 20, FEDERAL ROADS MAINTENANCE AGENCY (ESTABLISHMENT, ETC.) ACT (2002).

https://repo.podus.ai/laws/federal-roads-maintenance-agency-establishment-etc-act/section/20/