Section 13: Power to grant loans or advances

(1)
For the purpose of improving the working capital of a bank, a bank may upon application to the Board request for a matching loan or advance not exceeding N500,000 at such rate of interest not more than the Central Bank of Nigeria minimum re-discount rate or at a percentage to be determined, from time to time, by the Governor.
(2) Any loan or advance made to a bank pursuant to subsection (1) of this section shall-
(a) be repaid within a period of not more than five years from the date it was granted; and
(b) not be written off and shall, for winding-up purposes, rank in priority to wages or tax.