SECOND-TIER FOREIGN EXCHANGE MARKET ACT

Section 11: Transactions not permitted etc.

1986Section 11 of 24Federal Republic of Nigeria

(1) Nothing in this Act shall be construed-
(a) as permitting any unrestrained or general dealing in foreign currency on terms not consistent with the provisions of this Act;
(b) to imply that transactions relating to goods, services or items absolutely prohibited by any Act or law may be conducted in the Market.
(2)
Any convertible currency or money market instrument stipulated in subsection (2) of section 2 of this Act purchased or obtained from the Market shall not be lodged in any domiciliary account opened under the Foreign Currency (Domiciliary Accounts) Act.
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Cite this section

Section 11, SECOND-TIER FOREIGN EXCHANGE MARKET ACT (1986).

https://repo.podus.ai/laws/second-tier-foreign-exchange-market-act/section/11/