FAILED BANKS RECOVERY OF DEBTS AND FINANCIAL MALPRACTICE IN BANKS ACT

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LAWS OF THE FEDERATION OF NIGERIA   

FAILED BANKS (RECOVERY OF DEBTS) AND FINANCIAL MALPRACTICES IN BANKS ACT

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ARRANGEMENT OF SECTIONS

PART I – Powers of the Federal High Court under this Act

1. Powers of the Court.
2. Power of search, etc.
3. Power to control property of debtor or accused.
4. Jurisdiction unaffected by separation from service.

PART II – Recovery of debts owed to failed banks

5. Recovery of debt owed to failed banks.
6. Proof of debt.
7. Application for recovery of debt.
8. Debtor to appear before Court to show cause.
9. Hearing and judgment.
10. Withdrawal of application.
11. Sale of property.
12. Inadequate securities, etc.
13. Exclusion of statutes of limitation.
14. Rules of procedure, etc.

PART III – Offences and penalties

15. Offences.
16. Penalties.
17. Attempt to commit offence, etc.
18. Offence by bodies corporate.
19. Evidence of accomplices, etc.
20. Prosecutions, rules of procedure, etc.
21. Powers of arrest.
22. Bail.

PART IV – Miscellaneous

23. Inconsistency
24. Interpretation.
25. Short title.

SCHEDULE

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FAILED BANKS (RECOVERY OF DEBTS) AND FINANCIAL MALPRACTICES IN BANKS ACT

An Act to provide for the recovery of debts owed to failed banks and for the Trial of Offences relating to Financial Malpractices in Banks and other Financial Institutions.

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[Commencement.]                       [9th November, 1994]             

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