Section 18: Power to borrow.

(1) The Institute may from time to time, borrow money by overdraft or otherwise as it may require for the performance of its functions under this Act.
(2) The Institute shall not without the approval of the Council, borrow money which exceeds, at any time, the amount set by the Council.
(3) Notwithstanding the provisions of subsection (1) of this section, where the sum to be borrowed is in foreign currency, the Institute shall not borrow the sum without the prior approval of the Federal Government of Nigeria.