NATIONAL INSTITUTE FOR CULTURAL ORIENTATION ACT

Section 11: Power to borrow

1993Section 11 of 17Federal Republic of Nigeria

(1) The Board may, with the consent or in accordance with the general authority given by the Federal Government, borrow by way of loan or overdraft, from any source, any monies required by the Institute for meeting its obligations and discharging its functions under this Act.
(2) The Institute may, subject to the provisions of this Act and the conditions of any trust created in respect of any property, invest all or any of its funds with the like consent or general authority.
(3) The Board may invest any surplus funds of the Institute in such securities as may be approved by the Federal Government.

Cite this section

Section 11, NATIONAL INSTITUTE FOR CULTURAL ORIENTATION ACT (1993).

https://repo.podus.ai/laws/national-institute-for-cultural-orientation-act/section/11/