FOREIGN EXCHANGE (MONITORING AND MISCELLANEOUS PROVISIONS) ACT

Section 6: Revocation of appointment as Authorised Dealer or Authorised Buyer

1995Section 6 of 42Federal Republic of Nigeria

(1)
The Central Bank may revoke the appointment of an Authorised Dealer or Authorised Buyer, if it has reason to believe that it is not in the national interest that the Authorised Dealer or Authorised Buyer shall continue to operate as an Authorised Dealer or Authorised Buyer under this Act.
(2) A person aggrieved by the decision of the Central Bank under subsection (1) of this section may, within 28 days of the receipt by him of the letter of revocation, appeal in writing to the Minister.
(3) The Minister may, after giving consideration to the circumstances of the case, reverse or affirm the decision of the Central Bank, as the case may be.

Cite this section

Section 6, FOREIGN EXCHANGE (MONITORING AND MISCELLANEOUS PROVISIONS) ACT (1995).

https://repo.podus.ai/laws/foreign-exchange-monitoring-and-miscellaneous-provisions-act/section/6/