PEOPLE'S BANK OF NIGERIA ACT

Section 9: Service charge.

1990Section 9 of 19Federal Republic of Nigeria

(1) The Bank shall charge on each loan granted by it, a minimal service charge not more than five per cent to cover overheads and operating costs of the Bank.
(2)
The level of this charge may be subject to changes as may be determined from time to time by the Board;
Provided that such service charge shall not exceed what is required for meeting administrative costs of the Bank in respect of such loan.

Cite this section

Section 9, PEOPLE'S BANK OF NIGERIA ACT (1990).

https://repo.podus.ai/laws/people-s-bank-of-nigeria-act/section/9/