Section 29: Enforcement and administration.
(1) The provisions of the Fourth Schedule to this Act (being general provision as to evidence and information) shall have effect for the purpose of the enforcement of this Act.
(2) Persons belonging to the following classes, that is to say-
(a) bankers, authorised dealers, authorised depositaries;
(b) persons to whom any powers of the Minister under this Act are delegated;
(c) persons who, with the permission of the Minister are in possession of documents which, if an order is or has been made under subsection (1) of section 11 of this Act, would, but for the permission, have to be in the custody of an authorised depositary;
(d) persons concerned with the keeping in Nigeria of any register of securities; and
(e) persons entrusted with the payment of capital moneys, dividends or interest in Nigeria,
shall comply with such directions as may be given to them respectively by the Minister, being-
(i) in the case of any such persons, directions as respects the exercise of any functions exercisable by them by virtue of, or by virtue of anything done under, any provision of this Act; and
(ii) in the case of authorised dealers, such directions as aforesaid or directions as to the terms on which they are to accept gold or foreign currency or directions requiring them to offer their gold or specified currency to the Central Bank of Nigeria on such terms as may be specified in any such directions.
Cite this section
Section 29, EXCHANGE CONTROL ACT (1962).
https://repo.podus.ai/laws/exchange-control-act/section/29/