Section 13: Funds to be applied towards the disbursements of loans only.
The funds given to the Bank for disbursement as loans under this Act shall be used only for that purpose and shall not under any circumstances be diverted, vired or used for payment of staff salaries or purchase of equipment or services.
Cite this section
Section 13, PEOPLE'S BANK OF NIGERIA ACT (1990).
https://repo.podus.ai/laws/people-s-bank-of-nigeria-act/section/13/