Section 17: Interpretation.

(1) In this Act, unless the context otherwise requires, the following expressions have the meanings respectively assigned to them-
"Alien" means a person or association whether corporate or unincorporate other than a Nigerian citizen or association;
Cap. 406.
"Commission" means the Securities and Exchange Commission established by section 1 of the Securities and Exchange Commission Act;
Cap. 59.
"Company" means any company registered under the Companies and Allied Matters Act or under any enactment replaced by that Act;
"Court of competent jurisdiction" means the Federal High Court;
"Enterprise" includes any industrial or commercial undertaking;
"Minister" means the Minister charged with responsibility for industries; and
"Ministry" shall be construed accordingly;
"Nigerian citizen or association" includes-
(a) Cap. 62.
a person who is a citizen of Nigeria by virtue of the Constitution of the Federal Republic of Nigeria, as amended;
(b) any person of African patrililean descent, not being a citizen of Nigeria, who is a national of any country in Africa which is a member country of the Organisation of African Unity, and who continues to reside and carry on business in Nigeria, if the country of which he is a national also permits citizens of Nigeria to establish and operate business or enterprise in that country on the basis of reciprocity; and
(c) Cap 59.
any company registered under the Companies and allied Matters Act, partnership, association or body (whether corporate or unincorporate), and except as otherwise prescribed under this Act, the entire capital or other financial interest of which is owned wholly and exclusively by citizens of Nigeria;
"ownership" in relation to any enterprise includes any proprietary interest in the enterprise beneficially, and any derivative of that word shall be construed accordingly;
"prescribed" means prescribed by this Act or by regulations;
"share" includes stocks.
(2) The reference in this Act to "equity participation of Nigerian citizens or associations" is a reference to stocks and shares which Nigerian citizens or associations have in such company which do not bear fixed interest or dividend.