NIGERIAN EXPORT-IMPORT BANK ACT

Section 10: Power of the Board to use resources of the Bank

1991Section 10 of 18Federal Republic of Nigeria

(1) The Board shall use the resources accruing to the Bank under the provisions of this Act for purposes connected with the objects and functions and the exercise of the powers of the Bank and of the Board.
(2) The Board shall have power to use the funds of the Bank to meet-
(a) reinsurance premiums;
(b) payment of claims;
(c) payment for premises; and
(d) other operational expenses (including wages and related overheads as well as payment of principal and interest on borrowed funds).

Cite this section

Section 10, NIGERIAN EXPORT-IMPORT BANK ACT (1991).

https://repo.podus.ai/laws/nigerian-export-import-bank-act/section/10/