Section 41: Interpretation

In this Act, unless the context otherwise requires-
"Authorised Buyer" means any bureau de change, hotel or other corporate body appointed as such by the Central Bank under the provisions of this Act;
"Authorised Dealer" means any bank licensed under the Banks and Other Financial Institutions Act, and such other specialised bank and issued with licence to deal in foreign exchange;
[Cap. B3.]
"Autonomous Foreign Exchange Market" means a market in which the Authorised Dealers, Authorised Buyers, foreign exchange end-users and the Central Bank are participants and may include any other participant that the Government of the Federation may, from time to time, recognise:
"bank" has the meaning assigned to it by section 55 of the Central Bank of Nigeria Act, .
[Cap. C4.]
"capital" means all cash contributions, plant, machinery, equipment, building, spare parts, raw material and other business assets, other than goodwill;
"Central Bank" means the Central Bank of Nigeria;
"Certificate of Title" in relation to a security, means any document whereby a person recognises the title of another to a security issued or to be issued by the first mentioned person;
"coupon" means a coupon representing dividends or interest in a security;
"domiciliary account" means a foreign currency account domiciled in Nigeria opened, maintained and operated with banks in Nigeria under this Act:
"foreign capital" means convertible currency, plant, machinery, equipment, spare parts, raw materials and other business assets, other than goodwill brought into Nigeria with no initial disbursement of Nigerian foreign exchange and intended for the production of goods and services related to an enterprise, as applicable;
''foreign currency" means any currency, other than Nigerian currency, and includes any note which is or has at any time been legal tender in any territory outside Nigeria, and where reference is made to foreign currency, the reference includes the right to receive foreign currency in respect of any credit or balance at a bank;
"inter-bank foreign exchange market" means foreign exchange market with end-users, Authorised Dealers and Authorised Buyers as participants;
''Minister'' means the Minister charged with responsibility for matters relating to finance and "Ministry" shall be construed accordingly.