GOVERNMENT PROMISSORY NOTES ACT

Section 6: Issue and effect of promissory notes.

1960Section 6 of 23Federal Republic of Nigeria

(1) Every Government promissory note shall bear the signature of the Minister and of the Accountant-General of the Federation for and on behalf of the Government of the Federation and shall, when issued, bind the Government of the Federation to pay the principal sum mentioned in that note and the interest thereon in accordance with the provisions of this Act or in pursuance of an option to redeem that note reserved by the Minister.
(2)
Naira denominated notes issued by the Central Bank in accordance with section 3 (2) of this Act shall bear the signature of the Governor of the Central Bank and shall, when issued, bind the Federal Government to pay the principal sum mentioned in that note and the interest thereon in accordance with the provisions of this Act.
[1989 No. 10.]

Cite this section

Section 6, GOVERNMENT PROMISSORY NOTES ACT (1960).

https://repo.podus.ai/laws/government-promissory-notes-act/section/6/