Section 8: Restructuring of banks, etc.

Except with the prior approval of the Board and the Central Bank of Nigeria, no bank shall enter into an agreement or arrangement-(a) which results in a change in the control of the bank;
(b) for the sale, disposal or transfer of the whole or any part of the business of the bank;
(c) for the amalgamation or merger of the bank with any other person or body;
(d) for the reconstruction of the bank;
(e) to employ a management agent or to transfer its business to any such agent.