NATIONAL LIBRARY ACT

Section 7: Power to borrow and invest.

1970Section 7 of 14Federal Republic of Nigeria

(1) The Board may, with the consent of or in accordance with any general authority given by the President, borrow by way of loan from the Federal Government, or by way of temporary overdraft approved by the Minister, sums required by the Board for meeting its obligations and discharging its functions under this Act.
(2) The Board may invest all or any of its funds in such manner as may be approved by the Minister.
(3) Subject to section 5 of this Act, the Minister may, with the approval of the President, issue to the Board directives as to the disposal of surplus funds.

Cite this section

Section 7, NATIONAL LIBRARY ACT (1970).

https://repo.podus.ai/laws/national-library-act/section/7/