SMALL AND MEDIUM SCALE ENTERPRISES DEVELOPMENT AGENCY OF NIGERIA ACT

Section 18: Power to Borrow.

2003Section 18 of 29Federal Republic of Nigeria

(1) The Agency may, from to time, borrow by overdrafts 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 Minister, borrow money which exceeds, at any time, the amount set by the Minister.
(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 prior approval of the Minister and in consultation with Central Bank of Nigeria.

Cite this section

Section 18, SMALL AND MEDIUM SCALE ENTERPRISES DEVELOPMENT AGENCY OF NIGERIA ACT (2003).

https://repo.podus.ai/laws/small-and-medium-scale-enterprises-development-agency-of-nigeria-act/section/18/