Section 14
ActIn forceProvision 14 of 64
Section 14
(1)
The Central Bank may require licensed banks to maintain capital funds in the case of a bank incorporated in the Federation, or net working funds in the case of a bank incorporated outside the Federation in proportion to the total assets of its branches and offices in the Federation at such percentage, not exceeding ten per centum of the total assets, as may be prescribed from time to time by the Central Bank.
(2)
For the purposes of this section, the expressions "capital funds" and "net working funds" shall have the meanings assigned to them by subsection (2) of section 5.