Section 25: Nigerian companies.

(1) Except with the permission of the Minister, no person resident in Nigeria shall do any act whereby a body corporate controlled (whether directly or indirectly) by persons resident in Nigeria ceases to be controlled by persons resident in Nigeria:
Provided that nothing in this subsection shall prohibit any person from selling any securities authorised to be dealt in on any recognised Stock Exchange in Nigeria if the sale takes place in pursuance of an agreement entered into in the ordinary course of business on that Stock Exchange.
(2) Except with the permission of the Minister, no person resident in Nigeria shall lend any money or securities to anybody corporate resident in Nigeria which is by any means controlled (whether directly or indirectly) by persons resident outside Nigeria:
Provided that this subsection shall not apply where the lender after making such enquiries as are reasonable in the circumstances of the case does not know and has no reason to suspect that the body corporate is controlled as aforesaid.