Section 5: Obligation in respect of currency

Unless otherwise prohibited by any law relating to the control of exchange the Bank shall, at its head office in Abuja, issue and redeem Nigerian currency against gold or such currencies as are eligible for inclusion in the reserve of external assets under the Act:
Provided that the rates of exchange quoted by the Bank for spot transactions shall not differ by more than one per cent from the parity of the naira with the parity of any such currency.