Section 18: Repeal, savings and transfer of liabilities, staff, etc. 1977 No. 3. Cap. 192

(1) The Nigerian Enterprises Promotion Act 1977, is hereby repealed and the Nigerian Enterprises Promotion Board established under that Act is consequentially dissolved.
(2) Without prejudice to section 6 of the Interpretation Act, the repeal of the enactment specified in subsection (1) of this section shall not affect anything done under or pursuant to that enactment.
(3) The rights, interests, obligations and liabilities of the Board existing before the commencement of this Act under any contract or instrument, or in law or in equity apart from any contract or instrument, shall by virtue of this Act be assigned to and vested in the Minister.
(4) Any such contract or instrument as is mentioned in subsection (3) of this section shall be of the same force and effect against or in favour of the Minister and shall be enforceable as fully and effectively as if instead of that Board the Minister has been named therein or had been a party thereto.
(5) The Minister shall be subject to all the obligations and liabilities to which the dissolved Board was subject immediately before this Act and all other persons shall have the same rights, powers and remedies against the Minister as they had against the Board immediately before the commencement of this Act.
(6) Any proceedings or cause of action pending or existing immediately before the commencement of this Act by or against the Board in respect of any right, interest, obligation or liability of the Board may be continued or as the case may be, commenced and any determination of a court of law, tribunal or other authority or person may be enforced by or against the Minister to the same extent that such proceedings, cause of action or determination might have been continued, commenced or enforced by or against the Board established under the Nigerian Enterprises Promotion Act 1977 if this Act had not been made.
(7) All assets, funds, resources and other movable or immovable property which immediately before the commencement of this Act were vested in the Board established by the Nigerian Enterprises Promotion Act 1977 shall by virtue of this Act and without further assurance, be vested in the Minister.
(8) Nothing in this Act shall affect the share held by Nigerian citizens or associations in any enterprise operated under the Act repealed by this section.
(9) Notwithstanding the repeal of the enactment referred to in this section, if the Minister thinks it expedient that any vacancy in the Board should be filled by a person holding office at the commencement of this Act in the Board dissolved by this section it may employ such person by way of transfer to the Ministry and the previous service in that Board by such person shall count as service for the purposes of any pensions subsequently payable by the Ministry.