Section 8 — Borrowing power

(1) The Institute may, with the consent of the Minister or in accordance with the general guidelines approved by the President, borrow by way of loan or overdraft from any source any moneys required by the Institute for meeting its obligations and discharging its functions under this Act so however that where the sum or the aggregate of the sums involved at any one time does not exceed ₦100,000.00 such consent or authority shall not be required.

(2) The Institute may, subject to the provisions of this Act and the conditions of any trust created in respect of any property, invest all or any of its funds with the like consent or general authority.

(3) The Board may invest any surplus funds of the Institute in such securities as may be approved by the President.