Section 1: Making or counterfeiting currency.

(1)
Any person who falsely makes or counterfeits any bank note resembling any bank note issued by the Central Bank of Nigeria and which is legal tender in Nigeria, shall be guilty of an offence under this Act and shall on conviction thereof be sentenced to life imprisonment.
(2) Any person who falsely makes or counterfeits any coin resembling any current coin which is legal tender in Nigeria, shall be guilty of an offence under this Act and on conviction thereof shall be sentenced to life imprisonment.
(3) Any person who falsely makes or counterfeits any bank note or coin resembling any bank note or current coin which is legal tender in any country other than Nigeria, shall be guilty of an offence under this Act and on conviction thereof shall be sentenced to life imprisonment.