NIGERIAN EDUCATION BANK ACT

Section 3: Resources of the Bank.

1993Section 3 of 30Federal Republic of Nigeria

(1) Without prejudice to the provisions of section 2 of this Act, other resources of the Bank shall be derived from-
(a) deposits in the Bank;
(b) education bonds;
(c) education endowment fund schemes;
(d) pension fund schemes;
(e) students saving schemes;
(f) children saving schemes; and
(g) such other schemes as the Bank may, from time to time, determine as being relevant to the functions of the Bank.
(2) The Bank may, for the purpose of recovering a sum owed to it under any of its facilities and services, acquire such interest, right or property in the assets of a person concerned in the transaction in satisfaction of that sum and may retain, invest, sell or otherwise dispose of the interest, right or property so acquired.
(3) The Bank may-
(a) invest and deal with the money of the Bank, not immediately required, on such securities and in such manner as it may, from time to time, determine;
(b) establish and manage funds connected with the functions of the Bank.
(4) The Bank shall maintain diverse and relevant information to facilitate credit verification and exchange such information with comparable organisations on a reciprocal or other agreed basis.

Cite this section

Section 3, NIGERIAN EDUCATION BANK ACT (1993).

https://repo.podus.ai/laws/nigerian-education-bank-act/section/3/