Section 86: Exemption from taxation.

The Corporation in its corporate capacity or as a liquidator of an insured institution or otherwise howsoever shall be exempted from all taxes, fees, penalties, charges, duties, levies, or other like imposts payable to any institution, agency, department or authority of the Federal Government, State Government, Federal Capital Territory, Local Government or Area Councils of the Federal Capital Territory, save income tax payable by staff of the Corporation, value added tax and withholding tax which are payable by any third parties under any contract entered into by such third parties with the Corporation, and environmental sanitation and municipal services or like service fees.