Section 26: Participating banks

(1) For the purposes of implementing the objectives of the Programme under this Act, the following banks shall be known and referred to as participating banks, that is-
(a) the People's Bank; and
(b) the Community Banks.
(2) The participating bank shall be required to have branches in all the Local Government Areas and Area Councils.
(3) Notwithstanding the provisions of subsection (1) of this section, the Board shall have power to-
(a) amend, alter, vary or substitute the list of participating banks referred to in subsection (1) of this Act; and
(b) designate such other banks as participating banks under the Programme.
(4) The Board shall cause to be disbursed to a participating bank a percentage of the funds allocated to the Programme under section 16 of this Act for disbursement to applicants requiring loan facilities from the State, Federal Capital Territory, Local Government, Area Council and Ward Co-ordinating Committees under the Programme.