Section 16: Authorised Dealers to submit returns

(1)
An Authorised Dealer and Authorised Buyer appointed under this Act shall submit to the Central Bank, at such intervals as the Central Bank may prescribe, returns of activities in the Market and the returns shall be in such form as the Central Bank may, from time to time, by circulars and guidelines direct.
(2) The Central Bank shall furnish to the Minister, on a quarterly basis, detailed reports on the returns submitted to it under subsection (1) of this section.
(3)
An Authorised Dealer or Authorised Buyer which contravenes the provisions of subsection (1) of this section, by failing, neglecting or refusing to submit the returns, is guilty of an offence and liable on conviction to be dealt with as provided in the Central Bank of Nigeria Act and the Banks and Other Financial Institutions Act as if it had contravened the provisions of those Acts relating to the submission of returns.
[Cap. C4.]