Section 19: Duty to collect certain debts

(1) Except with the permission of the Minister, no person resident in Nigeria who has a right (whether present or future and whether vested or contingent) to receive any foreign currency or to receive from a person resident outside Nigeria a payment in naira, shall do or refrain from doing any act with intent to secure or shall do any act which involves, is in association with, or is preparatory to any transaction securing-
(a) the delay in receipt by him of the whole or any part of the foreign currency, or of the payment as the case may be, or
(b) that the foreign currency, or payment as the case may be, shall cease in whole or in part to be receivable by him.
(2) Unless the Minister otherwise directs, nothing in subsection (1) of this section shall-
(a) impose on any person the obligation, in relation to any debt arising in the carrying on of any trade or business to procure the payment thereof at an earlier time than is customary in the course of that trade or business; or
(b) prohibit any transfer to a person resident in Nigeria, and not elsewhere, of the right to receive any foreign currency or payment in naira.
(3) Where a person contravenes the provisions of this section, the Minister may give to him or to any other person in or resident in Nigeria, and having authority on behalf of that person, such directions as appear to the Minister to be necessary to obtain the foreign currency or payment as the case may be. In addition, the Minister may direct the assignment to the Accountant-General of the Federation of the right to demand and receive the foreign currency or payment, and where the direction is given, the provisions of subsection (5) of section 4 of this Act shall have effect with all necessary changes.