Section 16: Bearer bonds

(1)
Every bearer bond shall be signed by the director of domestic operations of the Central Bank for and on behalf of the Government of Nigeria and shall, when issued, bind the Government of Nigeria to pay the principal sum and the interest thereon in accordance with the provisions of this Act, at the rate and on the dates specified in the directions by the Minister under section 5 of this Act or in pursuance of an option to redeem such bond reserved in such directions.
[1976 No. 32. 1979 No.3.]
(2) Bearer bonds shall be issued in such denominations as the Minister may direct.