NIGERIAN CHILDREN'S TRUST FUND ACT

Section 6: Investment.

1990Section 6 of 12Federal Republic of Nigeria

(1) The Board shall invest in Nigeria such assets of the Fund as it may, from time to time, determine.
(2) The Board shall invest in Nigeria such assets of the Fund as it may, from time to time, determine.
(a) securities specified under the Trustee Investments Act;
(b) shares in other securities of a society registered under any law relating to cooperatives;
(c) loans to building societies approved by the Minister of Finance;
(d) loans on real property, machinery and plant in Nigeria;
(e) cash on deposit in or bills of exchange accepted by licensed banks;
(f) such other securities as may be prescribed by order made by the President.
(3) The Board shall ensure that not less than 25 per cent of the total assets invested at any time pursuant to this section, is invested in the securities mentioned in paragraph (a) of subsection (2) of this section.
(4) Subject to the other provisions of this section, the Board may, from time to time, subject to the provisions of any relevant enactment by deed under its seal, sell or otherwise dispose of any property or security acquired by or vested in the Board upon such terms as it may deem fit.

Cite this section

Section 6, NIGERIAN CHILDREN'S TRUST FUND ACT (1990).

https://repo.podus.ai/laws/nigerian-children-s-trust-fund-act/section/6/