Section 95: Institution of action at the Special Tribunal.

Without prejudice to section 94 of this Act, the Corporation may institute action for the recovery of debt with a value of N10,000,000 and above, owed to a failing or failed insured institution or the Corporation or an asset management company established by the corporation under the acquisition of impaired assets under section 50 (1) (h) of this Act before the Special Tribunal for the Enforcement and Recovery of Eligible Loans, established by section 102 of Banks and Other Financial Institutions Act, and accordingly the jurisdiction of the said Tribunal is extended to cover such actions and such debt are deemed to be eligible debt for the purpose of the jurisdiction of the said Tribunal. [Act No. 5, 2020]