Section 8
ActIn forceProvision 8 of 64
Section 8
(1)
Every licensed bank in the Federation shall pay to the Central Bank such annual licence fee as the Minister, on the recommendation of the Central Bank may by notification in the Gazette prescribe.
(2)
The Minister may prescribe different licence fees for different banks varied according to the size or location of banks or to both, size being measured in relation to number of branches, deposit liabilities or capital or any combination thereof.