Section 381: Removal of wreck by receiver

(1)
Subject to the provisions of any other enactment or law relating to ports, where any vessel is sunk stranded or abandoned in any port, navigable river or tidal water within Nigeria or in or near any approach to any port, navigable river or tidal water, in a manner as in the opinion of the Receiver of Wreck, to be or to be likely to become an obstruction or danger to navigation, the Receiver of Wreck-
(a)
may take possession of and raise remove or destroy, the whole or any part of the vessel;
(b)
may light or buoy any such vessel or part of the vessel, until the raising, removal or destruction of the vessel; and
(c)
subject to the provisions of subsections (2) and (3) of this section, may sell, in a manner as he thinks fit, any vessel or part so raised or removed and any other property recovered in the exercise of his powers under this
section and out of the proceeds of sale reimburse himself for the expenses incurred by him under this section in relation to such vessel, or part of a vessel, or other property, and shall hold the balance, if any, for payment to a person who establishes his right to the vessel in so far as the person makes the claim within three years of the sale and the balance shall be paid into the Consolidated Revenue Fund.
(2)
A sale shall not, except in the case of property which is of a perishable nature or which would deteriorate in value if delayed, be made under this section untiI at least seven dear days' notice of the intended sale has been published in the Gazette or such widely circulated newspapers as the Receiver may decide.
(3)
At any time before any property is sold under this section, the owner of the property shall be entitled to have same delivered to him on payment to the Receiver of Wreck of the fair market value of the property to be ascertained by agreement between the Receiver of Wreck and the owner. Failing such agreement, by some person to be named for the purpose by the Minister; and the sum paid to the Receiver of Wreck as the value of any property under this subsection shall, for the purposes of this section, be deemed to be the proceeds of sale of that property.
(4)
If the proceeds of sale of any such property as is mentioned in this section is less than the costs incurred by the Receiver of Wreck under this section, he may recover such difference from the owner of the vessel by a civil action.