Section 3: Discounting of any kind of currency prohibited.

If any person shall-(a) buy or sell or offer or attempt to buy or sell;
(b) induce or attempt to induce any other person to buy or sell;
(c) offer or accept or offer to accept in payment of a debt or otherwise, any note or coin at or for a lower rate or value than the same imports, he shall be guilty of an offence and liable on conviction to imprisonment for a term of five years or a fine of N1000 or to both such imprisonment and fine.