Section 5: Uttering and being in possession of counterfeit currency

(1) Any person who-
(a) utters any counterfeit bank note or current coin knowing it to be counterfeit; or
(b) has in his possession any counterfeit bank note or current coin, knowing it to be counterfeit; or
(c)
accepts from any other person in payment of a debt, in exchange for genuine bank notes or current coins or for any other purpose whatsoever any counterfeit bank note or current coin, knowing it to be counterfeit,
is guilty of an offence under this Act and upon conviction thereof shall be liable to imprisonment for a term not exceeding twenty-one years.
(2) Any person who is found to be in possession of not more than fifty counterfeit bank notes or fifty counterfeit current coins is guilty of an offence under this Act and on conviction thereof, shall be sentenced to imprisonment for a term not exceeding ten years without the option of a fine.
(3)
Where a person has fifty or more counterfeit bank notes. or current coins in his possession, the Federal High Court before whom such person is tried may, presume knowledge that they are counterfeit bank notes or current coins and also an intention to utter any of them, unless he proves the contrary.
(4)
For the purposes of this section, a person shall be deemed to have uttered a counterfeit bank note or current coin, if he has tendered any such bank note or current coin to another person as if it were genuine legal tender.