Section 7: Fund of the Bank.
(1) The Bank shall establish and maintain a fund which shall be applied towards the disbursement of loans under this Act.
(2) The fund of the Bank shall consist of-
(a) funds allocated to the Bank by the Federal Government by way of grants or loans;
(b) funds from the Central Bank of Nigeria;
(c) funds obtained with the approval of the Federal Government at low interest rates from International Organisations or other financial institutions;
(d) funds obtained by the Bank by way of loan from other banks or by philanthropists, at low interest rates; the level of such interest shall not be higher than the Bank's administrative charges.
Cite this section
Section 7, PEOPLE'S BANK OF NIGERIA ACT (1990).
https://repo.podus.ai/laws/people-s-bank-of-nigeria-act/section/7/