NIGERIAN METEOROLOGICAL AGENCY (ESTABLISHMENT, ETC.) ACT

Section 19: Power to borrow.

2003Section 19 of 41Federal 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) Notwithstanding the provisions of subsection (1) of this section, where the sum to be borrowed is in foreign currency, the Agency shall not borrow the sum without the prior approval of the Board through the Minister.

Cite this section

Section 19, NIGERIAN METEOROLOGICAL AGENCY (ESTABLISHMENT, ETC.) ACT (2003).

https://repo.podus.ai/laws/nigerian-meteorological-agency-establishment-etc-act/section/19/