LOAN (STATE DEVELOPMENT) ACT

Section 4: Repayment.

1960Section 4 of 6Federal Republic of Nigeria

The sum or sums raised under the provisions of this Act shall be repaid by equal annual instalments of principal and interest combined to extinguish the loan within a period to be agreed between the said Minister and the Secretary of State, and such payments shall commence on the first anniversary of the date of issue of any such loan or loans.

Cite this section

Section 4, LOAN (STATE DEVELOPMENT) ACT (1960).

https://repo.podus.ai/laws/loan-state-development-act/section/4/