NIGERIAN EDUCATION BANK ACT

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LAWS OF THE FEDERATION OF NIGERIA

NIGERIAN EDUCATION BANK ACT

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ARRANGEMENT OF SECTIONS

PART I: Establishment and share capital of the Nigerian Education Bank 

1. Establishment, etc., of the Nigerian Education Bank.

2. Share capital of the Bank, etc.

3. Resources of  the Bank.

PART II: Board of Directors

4. Establishment of the Board of  Directors.

5. Tenure of office.

6. Removal from office of members of the Board.

PART III:  Functions and powers 

7. Functions of the Bank.

8. Functions of the Board.

9. Powers of the Board.

10. Borrowing powers of the Bank.

PART IV: Staff of the bank

11. Managing Director and Executive Directors of the Bank.

12. Secretary and other staff of the Bank.

PART V – Students Loan Revolving Fund and general reserve fund

13. Students Loan Revolving Fund.

14. General reserve fund.

PART VI: Incentives and interest rates

15. Incentives for investors.

16. Interest rates.

PART VII: Financial provisions 

17. Fund of the Bank.

18. Expenditure of the Bank.

19. Annual accounts of the Bank.

20. Annual report.

PART VIII:  Miscellaneous 

21. Delegation of Bank’s powers to directors, etc.

22. Offices and branches.

23. Application of Cap. B3.

24. Service of documents.

25. Restriction on execution against the property of the Bank.

26. Exclusion of enactment on the limitation of action.

27. Repeals, savings, etc.

28. Regulations.

29. Interpretation.

30. Short title.

SCHEDULE – Proceedings of the Board

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NIGERIAN EDUCATION BANK

An Act to establish the Nigerian Education Bank to approve and disburse loans for educational purposes and for matters connected therewith.

[1993 No. 50.]

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[Commencement.] [16th June, 1993]               

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