Section 374: Rules to be observed by persons finding wreck

Where any person finds or takes possession of any wreck within Nigeria, or finds or takes possession of any wreck outside those limits and brings it within those limits, he shall-
(a)
if he is the owner of the wreck, give notice to the Receiver of Wreck, stating that he has found or taken possession of the same, and describing the marks by which the same may be recognised; or
(b)
if he is not the owner of the wreck, as soon as possible deliver it to the Receiver of wreck, and where the person faiIs without reasonable cause, to comply with this section, he commits an offence and on conviction is liable to a fine not less than fifty thousand Naira, and shall, in addition, if he is not the owner, forfeit any claim to salvage, and be liable to pay to the owner of the wreck, if it is claimed or if it is unclaimed to the Minister, double the value
thereof.