Section 14: Appointment of Secretary to the Board and other employees.

(1) There shall be for the Board a Secretary who shall be-
(a) appointed by the Board ; and
(b) be responsible to the Board through the Governor.
(2) The Secretary shall be responsible for-
(a) convening, on the authority of the Chairman, meetings of the Board;
(b) recording the minutes of all meetings of the Board and such other meetings as the Board may direct;
(c) acting as Secretary to any Committee of the Board;
(d) maintaining and keeping minute books and a register of the Directors of the Bank;
(e) keeping in safe custody the common seal of the Bank;
(f) keeping in safe custody all title documents relating to the Bank's properties ;
(g) keeping in safe custody all agreements entered into by the Bank with any third party; and
(h) carrying out such other duties and responsibilities as may be assigned to him, from time to time, by the Governor.
(3) The Secretary to the Board shall be a lawyer, with at least, 10 years cognate experience.
(4) Appointment of employees of the Bank shall only be in respect of positions created by the Bank and on such terms and conditions as may be laid down by the Board:
Provided that the appointment and removal of staff of the grade of Assistant Director and above shall be with the approval of the Board.
(5) A salary, fee, wage, allowance or other remuneration paid by the Bank shall not be computed by reference to the operating surplus of the Bank.
(6) The salaries, fees, wages, or other remuneration payable to or in respect of employees of the Bank, other than the Governor or Deputy Governors, shall be as stipulated, from time to time, by the Board.