NIGERIAN BANK FOR COMMERCE AND INDUSTRY ACT

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LAWS OF THE FEDERATION OF NIGERIA

NIGERIAN BANK FOR COMMERCE AND INDUSTRY ACT

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ARRANGEMENT OF SECTIONS

1. Establishment of the Nigerian Bank for Commerce and Industry.
2. Functions.
3. Board of directors.
4. Managing director and other officers and servants of the Bank.
5. Capital.
6. General reserve fund.
7. Borrowing power.
8. Funds of the Bank.
9. Auditing of accounts.
10. Records and annual reports.
11. Offices and branches.
12. Regulations.
13. Rules.
14. Bye-laws.
15. Exemptions.
16. Restriction as to publication of instruments.
17. Interpretation.
18. Short title.

SCHEDULE – Provisions relating to the Board

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NIGERIAN BANK FOR COMMERCE AND INDUSTRY ACT

An Act to establish the Nigerian Bank for Commerce and Industry to provide capital for medium and long-term investments to indigenous bodies and persons engaged in industry and commerce and for matters connected therewith.

[1973 No. 22.]

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[2nd April, 1973]                 [Commencement.]

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1. Establishment of the Nigerian Bank for Commerce and Industry

(1)    There is hereby established a bank to be called the Nigerian Bank for Commerce and Industry (in this Act referred to as “the Bank”) which shall be a body corporate with perpetual succession.

(2)    The Bank shall have power to sue and be sued in its own name and may for the purposes of its functions, acquire, hold or dispose of property (whether movable or immovable) and shall have a common seal.

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