This Act amends the Mortgage Institutions Act by reviewing the prescribed penalties in sections 1 (no mortgage business shall be transacted in Nigeria except by a company which is duly incorporated in Nigeria for that purpose and in possession of a valid licence granted by the Minister authorising it to do so), 15 (accounting), 17 (submission of returns to the Federal Mortgage Bank), 20 (restriction of interests by officials of mortgage institutions), 21 (prohibition of receipt of commission, etc., by staff).
Nigeria · 2017-01-04