Section 2: Parity of naira

(1) Subject to the provisions of subsection (2) of this section, the parity of the naira shall be equivalent to 1.24414 grams fine gold.
(2)
The parity of the naira may, from time to time, be changed by the Bank with the approval of the President; and the notice of the change shall as soon as possible thereafter be published in the Federal Gazette.