Section 5: Bailees of gold and specified currency.

(1) Every person in Nigeria by whom or to whose order (whether directly or indirectly) any gold or specified currency in the form of notes is held in Nigeria, who is not entitled to sell or procure the sale of the gold or specified currency, shall notify the Minister in writing that he so holds the gold or specified currency
(2) The Minister may direct any person in Nigeria by whom or to whose order (whether directly or indirectly) any gold or specified currency in the form of notes is held in Nigeria, whether or not he is entitled to sell or procure the sale of the gold or specified currency, to cause the gold or specified currency to be kept at all times in the custody of the banker specified in the direction.