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AGRICULTURAL CREDIT GUARANTEE SCHEME FUND ACT

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CENTER FOR LAWS OF NIGERIA: FEDERAL LAWS

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AGRICULTURAL CREDIT GUARANTEE SCHEME FUND ACT

[This Act has been amended by the Agricultural Credit Guarantee Scheme Fund (Amendment) Act, 2019, You may read and download the amendment Act HERE

ARRANGEMENT OF SECTIONS

1.     Establishment of the Fund, etc.

2.     Establishment of the Board.

3.     Functions of the Board, etc.

4.     Appointment of managing agent.

5.     Amount to be paid into the Fund.

6.     Limits of liability of the Fund in respect of guarantees

7.     Applications for loans and for guarantees, etc.

8.     Form and terms of loan agreement

9.     Rate of interest

10.    Forms of security

11.    Safeguard in respect of certain loans

12.    Recovery of outstanding loan, etc.

13.    Loans to be applied for purposes for which made, and offences

14.    Rules and publication thereof

15.    Banks to establish Agricultural Finance Departments

16.    Return by banks

17.    Legal proceedings

18.    Investment of surplus moneys in the Fund      

19.    Accounts and audit

20.    Annual reports

21.    Regulations

22.    Interpretation

23.    Short title

24.    SCHEDULE

AGRICULTURAL CREDIT GUARANTEE SCHEME FUND ACT

An Act to establish an Agricultural Credit Guarantee Scheme Fund into which shall be subscribed a certain sum to provide guarantees for loans granted for agricultural purposes by any bank.

[COMMENCEMENT]                              (8th March, 1977)

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