Section 60: Duties of the Board of Trustees (amended by Section 8 of the Asset Management Corporation of Nigeria (Amendment) Act, 2015)

(1)
The Board of Trustees shall have responsibility for the supervision, administration and management of the Resolution cost Fund and shall, in addition to such other duties specified in part IX of this Act, have and discharge the following duties-
(a)
collection of the contributions and levies levied under this Act and as and when due;
(b)
disbursement of moneys standing to the credit of the Resolution cost Fund to meet the obligations specified in section 60E of this Act;
(c)
formulating investment policies for the Resolution Cost Fund and causing moneys standing to the credit of the Resolution cost Fund to be invested in accordance with the provision of this Act;
(d)
formulating policies for running the secretariat; and
(e)
performing other functions that are consistent with the purpose of the Resolution cost Fund as specified in section 60E of this Act.
(2)
The Board of Trustees may delegate any part of its resporrsibilities under this Act as it may deem fit and mayappoint independent service providers, professional advisers and consultants for the performance of any of its functions and for running the Secretariat.
(3)
ln the discharge of their responsibilities and duties, members of the Board of Trustees shall be deemed to stand in a fiduciary relationship with the corporation and shall act with due care and skill, in utmost good faith and in the best interest of the Corporation.