NIGERIA HYDROLOGICAL SERVICES AGENCY (ESTABLISHMENT) ACT

Section 17: Power to borrow.

2010Section 17 of 26Federal Republic of Nigeria

(1)
The Agency may, from time to time, borrow by way of overdraft or otherwise such sums as it may require for the performance of its functions under this Act.
(2)
The Agency shall not, without the approval of the Board, borrow money which exceeds, at any time, the amount set by the Government as the limit of the authority of the Agency.
(3)
Where the sum to be borrowed is in foreign currency, the Agency shall seek and obtain the approval of the Minister through the Board.

Cite this section

Section 17, NIGERIA HYDROLOGICAL SERVICES AGENCY (ESTABLISHMENT) ACT (2010).

https://repo.podus.ai/laws/nigeria-hydrological-services-agency-establishment-act/section/17/