FEDERAL MORTGAGE BANK OF NIGERIA ACT

DOWNLOAD OF A COPY OF THIS LAW IS AVAILABLE [N2,000 (PDF)] CLICK HERE FOR ONLINE PAYMENT AND DOWNLOAD. PDF COMPENDIUMS OF ALL THE LAWS OF NIGERIA, LAGOS AND OTHER STATES ARE ALSO AVAILABLE. EMAIL: lawnigeria@gmail.com or info@lawnigeria or Text/WhatsApp +23407067102097

LAWS OF THE FEDERATION OF NIGERIA 

FEDERAL MORTGAGE BANK OF NIGERIA ACT

–

ARRANGEMENT OF SECTIONS

PART I – Establishment of Federal Mortgage Bank of Nigeria and its Board of Directors

1. Establishment of the Federal Mortgage Bank of Nigeria.
2. Establishment of the Board of Directors.
3. Tenure of office.
4. Removal from office of members of the Board.

PART II – Functions and Powers

5. Functions of the Mortgage Bank.
6. Powers of the Mortgage Bank.
7. Functions of the Board.
8. Powers of the Board.

PART III – Staff of the Mortgage Bank

9.   Managing Director and Executive Directors of the Mortgage Bank.
10.   Secretary and other staff of the Mortgage Bank.

PART IV –  Capital of the Bank, etc.

11. Capital.
12. General reserve fund.

PART V –  Financial Provisions

13. Borrowing powers.
14. Funds of the Mortgage Bank.
15. Expenditure of the Mortgage Bank.
16. Annual accounts of the Mortgage Bank.
17. Annual report.

PART VI – Miscellaneous

18. Offices and branches.
19. Exemptions.
20. Service of documents.
21. Repeal, Savings, etc.
22. Regulations.
23. Interpretation.
24. Short title.

SCHEDULE – Proceedings of the Board

–

FEDERAL MORTGAGE BANK OF NIGERIA ACT

An Act to establish the Federal Mortgage Bank of Nigeria to provide long-term credit facilities to mortgage institutions in Nigeria and encourage and promote the development of mortgage institutions at the rural, local, State and Federal levels.

–

[Commencement. ] [August, 1993]

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