Section 3: Power to Prohibit Importation and Exportation of Coin

(1) The President may by order-
(a)
prohibit the importation into Nigeria of such coins, whether legal tender within Nigeria or not, as are in such order specified; and
(b)
prohibit the exportation from Nigeria of such coins, being legal tender within Nigeria, as are in such order specified; and
(c)
exempt any country or State from the operation of any order prohibiting the import into or export from Nigeria of such coins as are in such order specified; and
(d)
attach to any order prohibiting the import into or export from Nigeria of such coins as are in such order specified, any limitation with regard to particular portions of the frontier of Nigeria, or particular classes of persons importing or exporting or any other limitation whatsoever; and
(e) exempt from the operation of any order prohibiting the import into or export from Nigeria of such coins as are in such order specified, the import or export of such number of the said coins as may be fixed by the order.
(2) The President may by order prohibit the circulation in Nigeria of such foreign coins, not being legal tender within Nigeria, as are in such order specified.