Section 23: Interpretation

In this Act, unless the context otherwise requires-
"Board" means the Board of Directors of the Mortgage Bank constituted under section 2 of this Act;
"Central Bank" means the Central Bank of Nigeria established under the Central Bank of Nigeria Act;
[Cap. C4.]
"Chairman" means the Chairman of the Board;
"Company" means the Federal Mortgage Finance Limited registered under the Companies and Allied Matters Act;
[Cap. C20.]
"financial institutions" and "licensed bank" have the meaning assigned to them under the Banks and Other Financial Institutions Act;
[Cap. B3]
"Managing Director" means the employee of the Bank appointed as such under section 9 of this Act;
"Minister" means the Minister charged with responsibility for matters relating to housing;
"Mortgage Bank" means the Federal Mortgage Bank of Nigeria established under section 1 of this Act;
"mortgage business" means the mobilisation of savings and the granting of loans for the purpose of developing houses; and
"mortgage institution" means any person whose principal business is the advancing of money on the security of a mortgage.