NIGERIA NATURAL MEDICINE DEVELOPMENT AGENCY (ESTABLISHMENT) ACT, 2019.

Section 19: Investment on production of capital goods and use of surplus fund.

2019Section 19 of 33Federal Republic of Nigeria

1 Subject to the approval of the Board and consent of the Minister and in line with investment and partnership regulations of the country, the Agency may invest in the profitable production of capital goods by joint-ventures, partnerships, fund. shareholding or as sole proprietors, as the case may be, and the net income so generated shall be paid into the Fund of the Agency.

2 The Agency may invest any surplus fund in profit yielding venture, and notwithstanding that power, the Board may, with the consent of the Minister and in line with extant financial regulations, issue to the Agency directives as he may think necessary with regard to the disposal of any surplus Fund of the Agency.

Cite this section

Section 19, NIGERIA NATURAL MEDICINE DEVELOPMENT AGENCY (ESTABLISHMENT) ACT, 2019. (2019).

https://repo.podus.ai/laws/nigeria-natural-medicine-development-agency-establishment-act-2019/section/19/