PEOPLE'S BANK OF NIGERIA ACT

Section 12: Investment of loans.

1990Section 12 of 19Federal Republic of Nigeria

(1) The loans taken from the Bank shall be invested within a short period thereafter, except in extenuating circumstances such as death of close relative or serious illness of the borrower.
(2) The zonal offices of the Bank shall monitor every person obtaining loans from the Bank to ensure that loans are used for the purposes for which they were obtained.

Cite this section

Section 12, PEOPLE'S BANK OF NIGERIA ACT (1990).

https://repo.podus.ai/laws/people-s-bank-of-nigeria-act/section/12/