NIGERIA DEPOSIT INSURANCE CORPORATION ACT, 2023

Section 70: Prohibition of assets stripping.

2023Section 70 of 100Federal Republic of Nigeria

The Corporation shall have power to void the transfer of an interest in any property or asset of an insured institution that was fraudulently transferred by such an insured institution within five years before the commencement of the liquidation of that insured institution and shall have power to trace and recover from subsequent transferees provided that such transferees are not purchasers in good faith.

Cite this section

Section 70, NIGERIA DEPOSIT INSURANCE CORPORATION ACT, 2023 (2023).

https://repo.podus.ai/laws/nigeria-deposit-insurance-corporation-act-2023/section/70/