Section 11: Power of the Board to accept gifts

(1) The Board shall have power-
(a) to accept gifts of works of art, property, money or other assets from individuals or organisations where-
(i) the conditions attached by the person or organisation making the gift are not inconsistent with the objectives of the gallery; and
(ii) the gift is not made by a non-Nigerian or an organisation established by or pursuant to a law not in force in Nigeria;
(b)
to invest the gifts to the gallery in other commercial or industrial activities as the Board may from time to time determine.
(2)
For the purpose of the Companies Income Tax Act, a donation of any amount of money or an original work of art by a company shall be a deductible donation within the meaning of that Act.
[Cap. C20.]
(3) A contribution made or raised shall be considered a deductible expense in computing business profit for tax purposes.