PETROLEUM PRODUCTS PRICING REGULATORY AGENCY(ESTABLISHMENT) ACT

Section 15: Power to borrow

2003Section 15 of 26Federal Republic of Nigeria

(1) The Agency may, from time to time, borrow by overdraft or otherwise Power to 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 President, borrow money which exceeds, at any time, the amount set by the President.
(3) Notwithstanding 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 President.

Cite this section

Section 15, PETROLEUM PRODUCTS PRICING REGULATORY AGENCY(ESTABLISHMENT) ACT (2003).

https://repo.podus.ai/laws/petroleum-products-pricing-regulatory-agency-establishment-act/section/15/