Section 1: Establishment of the Corporation.

(1) There is estabiished the Asset Management Corporation of Nigeria (in this Act referred to as "the Corporation").
(2) The Corporation-
(a) shall be a body corporate with a common seal, perpetual succession ; and
(b) may sue and be sued in its corporate name.
(3) Subject to the limitations contained in this Act, the corporation may acquire, hold and dispose of movable and immovable property for the purpose of its functions and objects.