Nigeria Deposit Insurance Corporation Act, 2023 🇳🇬

Nigeria

Nigeria Deposit Insurance Corporation Act, 2023

Published in Federal Republic of Nigeria Official Gazette on 29 May 2023
Assented to on 26 May 2023
Commenced on 26 May 2023
[This is the version of this document from 29 May 2023.]

AN ACT TO REPEAL THE NIGERIA DEPOSIT INSURANCE CORPORATION ACT, NO. 16, 2006 AND ENACT THE NIGERIA DEPOSIT INSURANCE CORPORATION ACT, 2023; AND FOR RELATED MATTERS.

Part I – ESTABLISHMENT AND FUNCTIONS OF THE CORPORATION

1. Establishment of the Nigeria Deposit Insurance Corporation

(1)There is established the Nigeria Deposit Insurance Corporation (in this Act referred to as "the Corporation").

(2)The Corporation—

(a)shall be a body corporate with perpetual succession and a common seal;

(b)may sue or be sued in its corporate name; and

(c)may, for the purposes of its functions under this Act and subject to the Land Use Act, acquire, hold, and dispose of any property movable or immovable.

(3)The Corporation shall be independent in the performance of its functions.

(4)The Corp…

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