COMMUNITY BANKS ACT

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AWS OF THE FEDERATION OF NIGERIA 

COMMUNITY BANKS ACT

ARRANGEMENT OF SECTIONS

1. Establishment of a Community Bank, etc.
2. Establishment of the National Board for Community Banks, etc.
3. Functions of the Board.
4. Establishment of the fund.
5. Power to accept gifts.
6. Functions of a bank.
7. Restriction on certain transactions.
8. Restructuring of banks, etc.
9. Minimum paid-up share capital.
10. Shareholder’s voting rights.
11. Restriction of legal proceedings in respect of shares held in the name of another.
12. Notification of change.
13. Power to grant loans or advances.
14. Restriction on dividend.
15. Display of interest rate.
16. Books of accounts.
17. Returns.
18. Power to require information.
19. Annual accounts of the bank.
20. Appointment, power and report of auditor.
21. Prohibition of certain persons, etc.
22. Appointment of directors.
23. Disclosure of interest by manager, etc.
24. Prohibition of the receipts of commissions, etc., by director, secretary or officer of the bank.
25. Appointment of examiner.
26. Examiner to exercise duty of care.
27. Special examination.
28. Revocation of license.
29. Failure to supply information.
30. Insurable deposit.
31. Duty of care.
32. Power to provide course of training.
33. Act subject to Cap 29.
34. Delegation of functions.
35. Regulations.
36. Jurisdiction to try offences.
37. Interpretation.
38. Short title.

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COMMUNITY BANKS ACT

An Act to provide for the establishment of Community Banks and for matters connected therewith.

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COMMENCEMENT  [28th April, 1990]

ALPHABETICAL INDEX TO THE LAWS OF NIGERIA (UPDATED TO 2018)