Section 61: Interpretation. (amended by Section 9 of the Asset Management Corporation of Nigeria (Amendment) Act, 2015; Section 23 of the Asset Management Corporation of Nigeria Amendment Act, No. 2, 2019 and Section 5 of the Asset Management Corporation of Nigeria (Amendment) Act, 2021)

In this Act-
"Board of the Bank" means the Board of Directors of the Central Bank of Nigeria;
"Corporation" means the Asset Management Corporation of Nigeria established pursuant to section 1 of this Act;
"Court" means the Federal High Court, the Special Tribunal for Enforcement and Recovery of Eligible Loans and other superior courts exercising appellate jurisdictions over the Federal High Court.
"days" means working days;
"debt" means any credit facility, loan, risk asset, whether performing or non-performing, including interest thereon;
"debtor" or debtor company" means any borrower, beneficiary of an eligible bank asset and includes a guarantor of a debtor, guarantor or director of a debtor company;
"dissolution date" means a date to be determined by the Board of Directors of the Corporation with the approval of the Central Bank of Nigeria;
"eligible bank assets" means assets of eligible financial institutions specified by the Governor as being eligible for acquisition by the Corporation pursuant to section 24 of this Act;
"eligible equity" means shares, stock or other interest in the equity or share capital of an eligible financial institution;
"eligible financial institution" means a bank duly licensed by the Central Bank of Nigeria to carry on the business of banking in Nigeria under the Banks and Other Financial Institutions Act; and shall include a bank or other financial institution, whose banking license has been revoked by the Central Bank of Nigeria, pursuant to the Banks and Other Financial Institutions Act;
"Governor" means the Governor of the Central Bank of Nigeria;
"hours" means working hours;
"Minister" means the Minister charged with responsibility for finance;
"tenor" when used in this Act means a period of five years from the expiration of the current tenor but may be extended by a resolution of the National Assembly for such further period as the Corporation may determine with the approval of the Central Bank of Nigeria;
"total assets" when used in Part IX of this Act means all assets of an eligible financial institution above and/or below the balance sheet line whether contingent or otherwise.