NIGERIAN METEOROLOGICAL AGENCY (ESTABLISHMENT) ACT (2022)

Section 21: Power to borrow.

2022Section 21 of 47Federal Republic of Nigeria

(1) The Agency may with the approval of the Minister, borrow such sums by way of loan, overdraft or from any source, as may be required for the performance of its functions and meeting its obligations under this Act and any interest payable on money so borrowed shall be paid out of the Fund of the Agency.
(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 borrowing powers of the Agency.

Cite this section

Section 21, NIGERIAN METEOROLOGICAL AGENCY (ESTABLISHMENT) ACT (2022) (2022).

https://repo.podus.ai/laws/nigerian-meteorological-agency-establishment-act-2022/section/21/