Section 13: Establishment of Investigating Panel and Disciplinary Tribunal.

(1) There shall be constituted a body to be known as the Chartered Institute of Bankers of Nigeria Investigating Panel (in this Act referred to as "the investigating Panel") which shall be charged with the duty to-
(a) conduct a preliminary investigation into any case where it is alleged that a member of the Institute has violated the provisions of the Institute's Code of Conduct or shall for any other reason be the subject of proceedings before the Disciplinary Tribunal ;
(b) decide whether the case should be referred to the Disciplinary Tribunal or not.
(2) Notwithstanding the provisions of Subsection (1) of this section, the Central Bank of Nigeria and the Nigerian Deposit Insurance Corporation shall not be subject to the activities of the Investigation Panel.
(3) The Investigating panel shall be appointed by the Council and shall consist of five members as follows-
(a) two members of the Council, one of whom shall be Chairman of the Panel ;
and
(b) three members of the Institute who are not members of the Council.
(4) The tenure of any member of the Investigating Panel shall be two years renewable for a further period of two years.
(5) The Council may make rules not inconsistent with this Act as regard acts which constitute professional misconduct.
(6) The Investigating Panel shall act independently in the receiving and investigation of allegations under paragraph (a) of subsection (1) of this section and shall have power to receive complaints directly from any individual or organisation.
(7) There shall be established a Tribunal to be known as the Chartered Institute of Bankers of Nigeria Disciplinary Tribunal (in this Act referred to as "the Disciplinary Tribunal") which shall be charged with the duty of considering and determining any case referred to it by the Investigating Panel constituted under subsection (1) of this section.
(8) The Disciplinary Tribunal shall be appointed by the Council and shall consist of the Second Vice President of the Institute who shall be the Chairman, three other members of the Council and three members of the Institute who are not members of the Council.
(9) The provisions of the Second Schedule to this Act shall, so far as applicable to the Investigating Panel and Disciplinary Tribunal respectively, have effect with respect to those bodies.