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Nigerian Education Bank Act 🇳🇬

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Nigerian Education Bank Act

  • Commenced on 16 June 1993
  • [Up to date as at 31 December 2002]
  • [Note: The original publication document is not available and this content could not be verified.]
An Act to establish the Nigerian Education Bank to approve and disburse loans for educational purposes and for matters connected therewith.

Part I – Establishment and share capital of the Nigerian Education Bank

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

(1)There is hereby established a bank to be known as the Nigerian Education Bank (in this Act referred to as "the Bank").
(2)The Bank shall-(a)be a body corporate with perpetual succession and a common seal and may sue and be sued in its corporate name; and(b)for the purpose of its functions and subject to the Land Use Act, acquire, hold or dispose of property, movable or immovable.

2. Share capital of the Bank, etc.

(1)The share capital of the Bank shall, subject to subsection (2) of this section, be ₦400 million divided into 400 million shares o…

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