FOREIGN EXCHANGE (MONITORING AND MISCELLANEOUS PROVISIONS) ACT

Section 33: Directives by the Minister

1995Section 33 of 42Federal Republic of Nigeria

(1) The persons specified in subsection (2) of this section shall comply with such directions as may be given to them, respectively, by the Central Bank, being-
(a) in the case of any such persons, directives as respects the exercise of any functions exercisable by them by virtue of anything done under any provision of this Act; and
(b) in the case of Authorised Dealers, directives-
(i) as to the terms on which they are to accept foreign currency; or
(ii) requiring them to offer their specified currency to the Central Bank on such terms as may be specified in the directives.
(2) The persons referred to in subsection (1) of this section are as follows, that is-
(a) bankers and Authorised Dealers;
(b) persons to whom any power of the Central Bank under this Act has been delegated;
(c) Government agencies authorised to accept the custody of securities and documents of title to securities;
(d) persons entrusted with the payment of capital moneys, dividends or interest in Nigeria.

Cite this section

Section 33, FOREIGN EXCHANGE (MONITORING AND MISCELLANEOUS PROVISIONS) ACT (1995).

https://repo.podus.ai/laws/foreign-exchange-monitoring-and-miscellaneous-provisions-act/section/33/