Section 9: Powers of the Institute

For carrying out its objectives and functions under this Act, the Institute shall have power-(a) to establish such units within the Institute as may, from time to time, be deemed necessary or desirable;
(b) to institute professorships, readerships, lectureships and other posts and offices and make appointments thereto;
(c) to institute and award fellowships, scholarships, bursaries, medals, prizes and other titles, distinctions, awards and other forms of assistance;
(d) to provide for the residence, discipline and welfare of staff of the Institute;
(e) to hold examinations and grant diplomas, degrees, certificates and other distinctions to persons approved by the Institute and have satisfied such other requirements as the Institute may require;
(f) to grant fellowships or titles to deserving individuals;
(g) to determine and demand from any student or any other person attending the Institute for the purpose of instruction, such fees as the Institute may, from time to time, determine;
(h) to acquire, hold, grant, charge or otherwise deal with or dispose of movable and immovable property wherever situated;
(i) not to accept gifts, legacies and donations for a particular purpose unless it approves the terms and conditions attached to it;
(j) to enter into contracts, establish trusts, act as trustees solely or jointly with any other persons and employ and act through agents;
(k) to erect, provide, equip and maintain libraries, lecture halls or residence, sport grounds, dining halls and other buildings suitable for the objectives of the Institute;
(l) to undertake publishing and book sales and liaise constantly with the Nigerian Educational Research and Development Council in respect of book publishing;
(m) subject to any limitation or condition imposed by this Act-
(i) to invest any money accruing to the Institute by way of endowment, whether for general or special purposes, and such other money as may not be immediately required for current expenditure in investments, securities or in the purchase or improvement of land, with power from time to time to vary any such investments; and
(ii) to deposit money, for the time being not invested, with a bank approved by the Federal Government, on deposit or current account;
(n) to make gifts for any charitable purpose; and
(o) to do all such other things which are incidental to the foregoing.