NIGERIAN BANK FOR COMMERCE AND INDUSTRY ACT

Section 8: Fund of the Bank.

1973Section 8 of 18Federal Republic of Nigeria

Without prejudice to section 6 of this Act, the Bank shall maintain a fund which shall consist of-(a) such monies as may, from time to time, be provided by the Government for the purposes of this section by way of grants or loans or both; and
(b) such monies as may be received by the Bank in the course of its operations,
and from such fund there shall be defrayed all general expenses incurred by the Bank; and the Bank shall submit to the Minister not later than three months before the end of each financial year estimates of its expenditure and income (which shall exclude payments to the Bank out of monies provided by the Government) relating to the next following financial year.

Cite this section

Section 8, NIGERIAN BANK FOR COMMERCE AND INDUSTRY ACT (1973).

https://repo.podus.ai/laws/nigerian-bank-for-commerce-and-industry-act/section/8/