Section 4: Powers of the Fund.

(1) The Fund has power to-
(a) invest and deal with the money of the Fund not immediately required on securities or investments and in such manner, as the Board may determine;
(b) sell or dispose of the whole or any part of the property or investments of the Fund, either together or in portions, for such consideration and on such terms as the Board may approve;
(c) subject to the approval of the president, issue education bonds or other debt instruments;
(d) identify and acquire funds, not including debt, for the purpose of achieving the objectives of this Act;
(e) engage, on a competitive basis, such consultants, advisers and other service providers as are necessary or expedient for the performance of its functions;
(f) pay for the Fund's operational expenses and incur expenditures which, in the opinion of the Board, are necessary, incidental or conducive to the attainment of the objectives and functions of the Fund;
(g) enter contract options and other derivative financial instruments (including in currencies other than the Naira) for purposes which include-
(i) eliminating or reducing the risk of loss arising from changes in interest rates, currency exchange rates or other factors of similar nature,
(ii) eliminating or reducing the costs of raising funds, borrowing or the cost of other transactions carried out in the ordinary course of business, or
(iii) increasing return on investment;
(h) enter into contracts of insurance with respect to any of its activities and property;
(i) enter into a partnership or joint venture for the purpose of performing any of its functions; and
(j) recover any loan granted under this Act through any legal means, including an action for debt recovery, and that action shall not be statute-barred.
(2) The Fund may, with the approval of the Board, perform or exercise any of its functions or powers under this Act, other than the power to make regulations through an officer or agent of the Fund or through any other person authorised by the Fund in that behalf.