FAILED BANKS (RECOVERY OF DEBTS) AND FINANCIAL MALPRACTICES IN BANKS ACT

Section 6: Proof of debt

1994Section 6 of 24•Federal Republic of Nigeria

In addition to any other primary source of evidence-(a) the examination reports and recommendations of the Central Bank of Nigeria or the Nigerian Deposit Insurance Corporation or their joint examination reports and recommendations; or
(b) any report of the Central Bank of Nigeria or the Nigerian Deposit Insurance Corporation; or
(c) the report of a person appointed by the Central Bank of Nigeria or the Nigerian Deposit Insurance Corporation,
on the financial condition of a failed bank shall be sufficient proof that a loan or advance is owed to a failed bank and is due for recovery under this Act.

Cite this section

Section 6, FAILED BANKS (RECOVERY OF DEBTS) AND FINANCIAL MALPRACTICES IN BANKS ACT (1994).

https://repo.podus.ai/laws/failed-banks-recovery-of-debts-and-financial-malpractices-in-banks-act/section/6/