Section 60: Establishment of the Banking Sector Resolution Cost Fund (amended by Section 8 of the Asset Management Corporation of Nigeria (Amendment) Act, 2015)

(1)
Without prejudice to the provisions of Section 19 of this Act, there is established, for the purposes specified in section 65 of this Act, a fund to be known as the Banking Sector Resolution Cost Fund (in this Act referred to as the "Resolution Cost Fund") which shall be domiciled with the Central Bank of Nigeria, and into which shall be paid-
(a)
all contributions and levies imposed under this Part ; and
(b)
the sums vested in the Resolution Cost Fund by Section 64 of this Act.
(2)
The Resolution Cost Fund shall be tax neutral and accordingly, all moneys accruing to, payments made from, and instruments and transactions relating to, the Resolution Cost Fund shall be exempted from all forms of taxes, levies, duties, charges or imposition however described.