Section 9: Compensation deals

(1) Except with the permission of the Minister, no person shall in Nigeria, and no person resident in Nigeria shall outside Nigeria, make any payment to or for the credit of a person resident in Nigeria as consideration for or in association with-
(a) the receipt by any person of a payment made outside Nigeria, or the acquisition by any person of property which is outside Nigeria; or
(b) the transfer to any person, or the creation in favour of any person, of a right (whether present or future, and whether vested or contingent) to receive a payment outside Nigeria or to acquire property which is outside Nigeria.
(2) Nothing in this section shall prohibit the making of any payment in accordance with the terms of a permission or consent granted under this Act