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DEBT MANAGEMENT BUREAU (ESTABLISHMENT ETC.) ACT, 2011
This Act repeals the Debt Management Office (Establishment) Act No. 18 of 2003 and enacts the Debt Management Bureau Act, 2011 charged with the responsibility, among other things, to maintain a reliable database of all loans taken or guaranteed by the Federal, State Governments, Local Governments or any of their agencies.
ARRANGEMENT OF SECTIONS
PART I- ESTABLISHMENT OF THE DEBT MANAGEMENT BUREAU, ETC.
1. Establishment of the Debt Management Bureau, etc.
2. Establishment and composition of the supervisory Board.
PART II – FUNCTIONS OF THE BUREAU,ETC.
3. Functions of the Bureau.
4. Powers of the Bureau.
5. Functions of the Board.
PART III – STAFF
6. Appointment of the Director-General.
7. Appointment of other staff of the Bureau.
8. Staff regulations.
9. Service in the Bureau to be pensionable
10. Establishment of the management team.
PART IV – FINANCIAL PROVISIONS
11. Establishment of a Fund for the Bureau.
12. Fund of the Bureau.
13. Gifts to the Bureau.
14. Annual estimate and expenditures.
15. Expenditure of the Bureau.
PART V – EXTERNAL BORROWING, ETC.
16. External borrowing.
17. Execution of external loan agreements.
18. Minster to guarantee all loans.
19. Any loan in contravention of this Act not binding.
PART VI – FEDERAL GOVERNMENT GUARANTEE, ETC.
20. Government guarantee, etc.
21. Terms and conditions for loans and guarantees.
22. Bureau to determine issuance of securities.
23. Internal borrowing
24. Approval for grants or loans to a foreign State, etc.
25. Loan receipts to form part of the Consolidated Revenue Fund of the Federation.
PART VII – MISCELLANEOUS
26. Limitations of suit against the office, etc
27. Service of the documents.
28. Judgment debt to be paid from the Fund of the Bureau.
30. Transitional provisions etc.
31. Validation or appointment.
33. Short title.
DEBT MANAGEMENT BUREAU (ESTABLISHMENTETC.) ACT, 2011
AN ACT to repeal the Debt Management Office (Establishment) Act No.18 of 2003 and enact the Debt management Bureau; and for related matters.
ENACTED by the National Assembly of the Federal Republic of Nigeria –
ALPHABETICAL INDEX TO THE LAWS OF NIGERIA (UPDATED)
LAWS MADE BY THE NATIONAL ASSEMBLY OF NIGERIA [1999 – 2019]