A cross-sectional survey was used to assess the impact of traditional practices on trade in traditional plants within the rainforest of Nigeria. A questionnaire survey and market-based observations were used to derive data from 110 stakeholders including: plant collectors, sellers, middlemen and traditional healers. Results of data analyses indicate that: (i) plants not suitable for cultural practices were not usually used for traditional medicine. (ii) Traditional management of the forests based on open access, restricted access and closed access rights could no longer protect habitats of medicinal plants. (iii) Breakdown of management practices in the forests was common because of a twin factor: violators of regulations were not being punished; and there were increasing disputes over land boundaries among communities. (iv) Medicinal plants on regular trade were in decline. Stakeholder participation in species rehabilitation in the forests and establishment of ex situ gardens may sustain the medicinal plant trade.