Nigerian Education Bank Act

Arrangement of Sections

3. Bank.

4. Board of Directors

5. the opinion of the Minister suitable for appointment as members of the Board

6. (b) the Minister is satisfied that it is not in the interest of the Bank for the member

7. Functions and powers

9. functions of the Board.

10. of the Bank;

11. Staff of the Bank

12. by the Board or the Managing Director.

13. Students Loan Revolving Fund and general reserve fund

14. of their education in institutions of higher education.

15. Incentives and interest rates

16. rate of 200 per cent.

17. Financial provisions

18. (c) monies borrowed from any source approved by the Board; and

19. and the Board.

20. Annual report

21. Miscellaneous

22. cer, employee or agent of the Bank the powers to perform on behalf of the Bank such of

23. Application of Cap. B3

24. [Cap. B3.)

25. principal office of the Bank.

26. Exclusion of enactment on the limitation of action

27. covery of loans granted under this Act.

28. be enforceable as fully and effectively as if instead of the Students Loans

29. the Bank under this Act; and

30. “chairman” means the chairman of the Board;

PART I

Establishment and share capital of the Nigerian Education Bank

SECTION

|1. Establishment, etc., of the Nigerian Education Bank.

Share capital of the Bank, etc.

3.Resources of the Bank.

PART II

Board of Directors

Establishment of the Board of Directors.

Tenure of office.

Removal from office of members of the Board.

PART III

Functions and powers

Functions of the Bank.

Functions of the Board.

Powers of the Board.

Borrowing powers of the Bank.

PART IV

Staff of the bank

Managing Director and Executive Directors of the Bank.

Secretary and other staff of the Bank.

PART V

Students Loan Revolving Fund and general reserve fund

Students Loan Revolving Fund.

General reserve fund.

PART VI

Incentives and interest rates

Incentives for investors.

Interest rates.

PART VII

Financial provisions

SECTION

Fund of the Bank.

Expenditure of the Bank.

Annual accounts of the Bank.

Annual report.

PART VIII

Miscellaneous

21. Delegation of Bank’s powers to directors, etc.

22 Offices and branches.

23. Application of Cap. B3.

24. Service of documents.

Restriction on execution against the property of the Bank.